Hopp To Become Majority Owner Of TSG Parma Owner Confirms Takeover Of Club Hangin' With ... Seth Holmes Match-Fixing Law Doesn't Go Far Enough Allianz Arena Increases Capacity To 75K Munich City Council Approves New Arena Marussia Nose Section Sells For $23,500 Ecclestone Pushes For Engine Changes FIBA Says JBA Facing Serious Issues Executive Transactions
SBD Global/February 18, 2013/FinancePrint All
A report commissioned by the PGA and produced by Sports Marketing Surveys revealed golf is worth just under £13B ($20B) to Europe's economy, according to Tania Longmire of GOLF CLUB MANAGEMENT. The sport is worth £5.25B ($8.2B) to the British and Irish economies alone. The study also found that the "average European golfer" spends £1,642 ($2,549) per year on the game, £5 ($7.7) less than the average Australian and £80 ($124) less than the average American golfer. Key economic findings across the 27 European Union nations plus Norway and Switzerland, which represent a combined population of 510 million, show the sport is "responsible for a minimum of 180,000 full time jobs" and employee wages of £3.8B ($5.9B). Although the economic downturn has "hit popular European golf destinations such as Spain and Portugal," golf tourism still contributes £1.29B ($2B) of the annual impact (GOLF CLUB MANAGEMENT, 2/14).