Golf Tourism Market Size, Share, Growth Analysis, By Application(Domestic, International), By Region - Industry Forecast 2024-2031

Golf Tourism Market size was valued at USD 22.50 billion in 2022 and is poised to grow from USD 24.19 billion in 2023 to USD 43.14 billion by 2031, growing at a CAGR of 7.50% during the forecast period (2024-2031).

In recent years, golf has become a popular sport for both professional and leisure activities, leading to an increase in travel for tournaments and events. The growth of the global market is driven by various factors such as rising international and domestic tournaments, increased spending on sports infrastructure, and a surge in professional and amateur golf players worldwide. Governments and sports authorities are also investing heavily in organizing golf tournaments to attract players and boost the local economy. For example, the Canadian Federal Government recently invested USD 4.4 million in two professional golf tournaments to promote participation and attract tourists.

Despite this setback, the rising interest in outdoor sporting events, government funding, and measures to promote sports tourism, and growth in the number of young golfers are expected to fuel growth in the global market. Governments across the world are now keen to exploit the true potential of this sport to support economic expansion and boost foreign exchange earnings. To drive the industry's growth, various initiatives have been launched worldwide, including Scotland's Golfing Tourism Development, which aims to engage the community, improve health and well-being, and create opportunities for young people. These initiatives are expected to create opportunities for a range of industries, including lodging, tour operators, and travel agencies. Another trend that is expected to have a significant impact on the global market is the rise of professional female golfers. To cater to this trend, sports companies and government authorities are launching female tours to increase participation and encourage more women to take up the sport.

US Golf Tourism Market is poised to grow at sustainable CAGR for the next forecast year.