nearace
Jan 18, 2008, 12:10 PM
LEISURE
TheStar.com | Business | Golf pumps $76 billion into the U.S. economy
Golf pumps $76 billion into the U.S. economy
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Jan 18, 2008 04:30 AM
Tiger Woods isn't the only one getting rich from golf.
Resorts, equipment makers, even authors and rental-car companies are making more money through the sport, according to a study released yesterday at the annual PGA Merchandise Show in Orlando, Fla.
The golf business directly pumped $76 billion (U.S.) into the American economy in 2005. That is up from $62 billion five years earlier, according to the Golf Economy Report, which was compiled by SRI International.
The study was paid for by seven of the sport's top groups, including the U.S. PGA Tour, the PGA of America and the U.S. Golf Association.
Golf's financial boost was bigger than motion pictures ($74 billion), spectator sports ($65 billion) and newspapers ($50 billion) and climbed more than 60 per cent faster than inflation, the study by the Menlo Park, Calif.-based research and consulting company said.
Golfers purchased $6.1 billion worth of golf supplies, including equipment ($3.7 billion), apparel ($1.5 billion), magazines ($860 million) and books ($65 million) in 2005.
After Woods turned professional in 1996 and won the Masters the next year, golf experienced a boom in rounds played and dollars spent.
The No. 1-ranked player in the world, Woods made $122.7 million in endorsements and on-course winnings last year, according to Golf Digest magazine.
this statistic is amazing as to how much money golf is worth I wonder the canadian economy
TheStar.com | Business | Golf pumps $76 billion into the U.S. economy
Golf pumps $76 billion into the U.S. economy
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Jan 18, 2008 04:30 AM
Tiger Woods isn't the only one getting rich from golf.
Resorts, equipment makers, even authors and rental-car companies are making more money through the sport, according to a study released yesterday at the annual PGA Merchandise Show in Orlando, Fla.
The golf business directly pumped $76 billion (U.S.) into the American economy in 2005. That is up from $62 billion five years earlier, according to the Golf Economy Report, which was compiled by SRI International.
The study was paid for by seven of the sport's top groups, including the U.S. PGA Tour, the PGA of America and the U.S. Golf Association.
Golf's financial boost was bigger than motion pictures ($74 billion), spectator sports ($65 billion) and newspapers ($50 billion) and climbed more than 60 per cent faster than inflation, the study by the Menlo Park, Calif.-based research and consulting company said.
Golfers purchased $6.1 billion worth of golf supplies, including equipment ($3.7 billion), apparel ($1.5 billion), magazines ($860 million) and books ($65 million) in 2005.
After Woods turned professional in 1996 and won the Masters the next year, golf experienced a boom in rounds played and dollars spent.
The No. 1-ranked player in the world, Woods made $122.7 million in endorsements and on-course winnings last year, according to Golf Digest magazine.
this statistic is amazing as to how much money golf is worth I wonder the canadian economy