One of GOLF 20/20’s primary areas of focus in 2007 and 2008 is in quantifying the economic and environmental impact of golf at the state and national levels. A report commissioned by 20/20 in 2002 revealed that the golf economy in the U.S. in 2000 was $62 billion.
That report has been updated, and the results were
released at the PGA Merchandise Show on Thursday, January 17. The
Full Report is now available. The report concludes that the golf economy in 2005 was $76 billion, an average growth rate of 4.1% per year, and that the total economic impact of golf on the economy of the United States in 2005 was a remarkable $195 billion.
(l-r) PGA Tour Commissioner Tim Finchem, U.S. Golf Association Executive Director David Fay, PGA of America CEO Joe Steranka, and World Golf Foundation CEO Steve Mona at the U.S. Golf Economy Forum during the 55th PGA Merchandise Show held at the Orange County Convention Center in Orlando, Florida. Thursday, January 17, 2008. (Photograph by Montana Pritchard/The PGA of America).
Additionally, GOLF 20/20 -- with financial support from the CMAA, GCSAA, LPGA, NGCOA, PGA of America, PGA TOUR and USGA – developed a template in 2006 through which any state can affordably develop the same level of economic impact quantification. Virginia was the first state to take advantage of the template. In 2007 reports were also completed for
Iowa,
Ohio,
Michigan,
Minnesota and
Louisiana, and the research process is underway for Massachusetts, Texas and California.
GOLF 20/20’s research partner on all economic impact activities is SRI International.
