Golf Experiences Surge in Participation and Revenues

Darrell Crall
3 min readMay 29, 2024

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Golf has seen a steady popularity upswing in the United States over the past several years; an American Golf Industry Coalition study estimated that one in seven Americans are now golf players. This statistic represents 41.1 million golfers in the United States, or nearly a fourth more than in 2016, when only 32 million Americans played.

The increased popularity of golf has had a substantial economic effect, with the entire golf economy worth $101.7 billion, a 20 percent increase from 2016. The pandemic served as a key driver of growth, as the sport represented a fun, outdoor activity that individuals could play safely and socially distanced. In addition, branded locations, such as Topgolf, Drive Shack, and other off-course golf entertainment options, have broadened accessibility to younger players.

Owned by Callaway, the Topgolf brand encompasses 70 US locations and emphasizes the social aspects of the sport instead of performance. An hour rental of a top-floor bay in Las Vegas runs $100 at peak hours; food and drinks serve as add-ons to the experience, leading to a high economic impact. Casual Topgolf participants spend more on average than those who take in two rounds at a public golf course each month.

The survey also found that nearly 50 percent of golfers between ages six and 24 made up a market share of 48 percent, exceeding the percentage they represent of the general population at 41 percent.

Golf has also benefitted from the loyalty and commitment of golfers who embrace the sport to enjoy the outdoors, relieve stress, and enjoy competition in a friendly, inclusive environment. In 2022, individuals played 75 million rounds nationwide in 2022, representing a 15 percent increase from 2019. The same year, the US Golf Association (USGA) registered over three million officially handicapped golfers for the first time. With this figure 16 percent higher than in 2020, the cohort included 400,000 golfers with first-ever handicaps.

The upward trend has had a carry-over effect on the golf course economy. As reported in Golf Digest, Austin, Texas, has experienced a tech boom that led to a 32 percent gain in population over the past 15 years. Real estate in popular locations reached unprecedented prices: an unimproved 0.15-acre lot in the Deep Eddy neighborhood near Lions Municipal Golf Course now sells for $1 million or more.

Until early 2020, the predominant narrative in Austin stated that underperforming golf courses would see redevelopment into residential communities. However, the pandemic saw community members reconnecting with simple pleasures on the green. This trend of committed golfers has continued, with flexible remote work schedules creating demand for tee time throughout the week.

As described by Magnolia Golf Management, an Austin area golf course owner, the tee sheets at Teravista, Avery Ranch, and Falconhead Country clubs have been consistently filled out over the past two years. A high volume of use has necessitated the placement of synthetic grass on practice facilities, with automated PowerTee ball-teeing systems for time-effective sessions.

Finally, the sport’s growth has also led to diversified portfolios for many companies operating golf courses, including the Augusta National Golf Club. It has invested in a comprehensive portfolio, with core on-site golfing and housing supplemented by the acquisition of $6 million in real estate assets citywide and the purchase of the National Hills Shopping Center, which spans 15 acres, for $26 million. In early 2024, Augusta National acquired West Vineland Park from the city of Augusta. Situated a 15-minute walk from the golf course, it can use the land as additional courses, housing, and overflow parking.

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Darrell Crall
Darrell Crall

Written by Darrell Crall

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Darrell Crall has spearheaded several transformative initiatives in the golf industry.

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