Menu
Finance

Golf A Billion Dollar Business For Scotland, Employs More Than 20,000 People

Golf "first began at least 500 years ago as a sport for gentlemen on the links lands of Scotland," according to Frank Urquhart of the SCOTSMAN. New research conducted by KPMG in association with Oxford Economics said that the Royal and Ancient Game is now worth a staggering £1B ($1.56B) a year to the home of golf. The "Value of Golf to Scotland’s Economy" report was published Wednesday at the start of the two-day Golf Business Forum organized by KPMG in St. Andrews. It shows that the industry now generates a total of £1.2B ($1.8B) in revenues and employs more than 20,000 people in Scotland -- accounting for one in every 125 jobs in the country. Wages alone total £300M ($468M). There are "now 597 golf courses across the country, supporting more than 12,300 jobs" and generating annual revenues of £582M ($908M), with at least eight golf course projects currently in the planning and development phases. Sales of golf equipment, clothing and accessories are worth a further £157M ($245M) a year, supporting 1,660 jobs, while golf tourism is worth at least £120M ($187M) to Scotland’s economy (SCOTSMAN, 6/5).

DRIVING FORCE: In Glasgow, David Ross reported the research concludes that "once costs are taken into account, golf directly contributes" £496M ($773M) to Scotland's gross domestic product (GDP) annually, "equivalent to 0.4% of the country's total economic output." Scottish Golf Union CEO Hamish Grey said, "This report clearly demonstrates the significant value of golf to Scotland's economy. Comparing it to other industries, we can now see for the first time that, for example, golf's direct contribution to GDP is 89% that of fishing and fish farming, and 83% of air transport" (HERALD SCOTLAND, 6/5).

SBJ Morning Buzzcast: March 18, 2024

Sports Business Awards nominees unveiled; NWSL's historic opening weekend and takeaways from CFP deal

ESPN’s Jay Bilas, BTN’s Meghan McKeown, and a deep dive into AppleTV+’s The Dynasty

On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

Learn more about your ad choices. Visit megaphone.fm/adchoices

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2013/06/07/Finance/Scotland-Golf.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2013/06/07/Finance/Scotland-Golf.aspx

CLOSE