Golf Tourism Global Market Set to Skyrocket to $8.27 Billion By 2032 with an Impressive CAGR 8.9% | Fairway Escapes, Goway Travel, Golfbreaks Ltd., Greenscape Holidays, Carr Golf

The golf tourism market size has grown strongly in recent years. It will grow from $5.44 billion in 2023 to $5.88 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to global popularity of golf, development of golf courses, international sporting events, resort and destination marketing, cultural and recreational attractions, corporate golf events.

The golf tourism market size is expected to see strong growth in the next few years. It will grow to $8.27 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to emergence of new golf destinations, golf course renovations and upgrades, culinary and gastronomic experiences, government support and investment, specialized golf events. Major trends in the forecast period include integration of technology in golf travel planning, sustainable and eco-friendly golf tourism, customized golf tour packages, collaborations with golf celebrities, golf cruise packages.

Market Overview -
Golf tourism refers to the trips undertaken by people to play golf. Golf is a sport in which players use a club to hit a small ball into a series of cups set out on a course. Golf tourism is a part of sport tourism, which is one of the tourism industry's fastest-growing segments. Golf tourism refers to domestic or international trips taken by people who play golf at least once while traveling to any destination.

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Government Backing Propels Growth In The Golf Tourism Market
The increasing government support for the promotion of golf tourism is expected to drive the growth of the golf tourism market going forward. The governments are promoting golf destinations to domestic and international tourists as a means of earning additional foreign exchange through the development of the niche product and thereby contributing to economic growth. For instance, in June 2021, in Scotland, a new Golf Tourism and Visitor Strategy were developed, with a focus on destination development, community engagement, education, and health as the industry attempts to recover from the challenges of the COVID-19 pandemic. Hence, the rising government initiatives to support golf tourism will drive the growth of the golf tourism market.

Competitive Landscape -
Major companies operating in the golf tourism market report are Fairway Escapes, Goway Travel, Golfbreaks Ltd, Greenscape Holidays, Par Excellence Getaways, Carr Golf, Premier Golf Tours, Kalos Golf, Celtic Golf, Golfasian Co. Ltd, Direct Golf Holidays, SouthAmerica.travel, Ascot Golf Tours, Chaka Travel, TeeTime Travels, Eagle's View Golf Tours, Golf Tours International, GHW Golf Tours, Perry Travel Inc, Scottish Golf Holidays Inc, The Haversham and Baker Co, GolfHolidays.com, Sophisticated Golfer, Caribbean Golf & Tours, Classic Golf Tours, Golf Plaisir, EasyGolf Worldwide Australia, Asian Tour, Links & Leisure Tours, Birdie Bound Adventures, Driveway Golf Tours, Mulligan Travels, Stroke Savvy Tours

Strategic Partnerships Shape The Future Of Golf Tourism Market
Strategic collaborations and partnerships have emerged as a key trend gaining popularity in the golf tourism market. Major companies operating in the golf tourism sector are focused on strategic collaborations and partnerships to reinforce their position. For instance, in October 2021, Goway, a UK-based golf tourism provider, partnered with Signature Travel Network to expand its reach in the US and strengthen its ability to provide vacations for travelers around the globe. Signature Travel Network is a US-based travel network company. Moreover, in May 2021, Golfscape Group, a provider of the online marketplace that offers booking capabilities to golfers and golf tourists partnered with Golfmanager, a leading European golf technology provider. As part of this agreement, Golfmanager's client courses will be featured in Golfscape's marketplace, which reaches over half a million users and books over 1 million rounds each year. In addition, the partners will collaborate to enhance the efficiency of the golf course management industry by providing a full solution for golf courses and an injection of sales through a next-generation booking process.

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Key Segments -
The golf tourism market covered in this report is segmented -
1) By Type: Domestic, International
2) By Service Type: Personal Tours, Professional Tours
3) By Sales Channel: Direct Channel, Distribution Channel
4) By End-User Sex: Male, Female

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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