The Economic Value of Golf to Europe

This study is produced thanks to funding from the Ryder Cup European Development Trust and is prepared in conjunction with KPMG. Furthermore it is supported and endorsed by the following organizations:

• Club Managers Association of Europe (CMAE)


• European Golf Course Owners Association


• European Golf Industry Association


• European Institute of Golf Course Architects (EIGCA)


• Federation of European Golf Greenkeepers Associations (FEGGA)


• Golf Environment Organisation


• PGA European Tour


• The PGAs of Europe


• The R&A

This study sets out to measure the economic value of the golf industry in Europe, using the most recent full-year statistics available – for the year 2006.

• In 2006, the golf industry generated EUR 19.6 billion of direct revenues in
  the European economy, driven primarily by three industry segments of activity:
  golf facility operations, real estate and tourism.
• The game's total economic value is EUR 48.3 billion in revenue terms.
• Once its costs (for goods and services) have been subtracted, the value of the
  industry in GDP is EUR 13.3 billion.
• The industry supports close to 400,000 jobs and pays almost
  EUR 9.4 billion in wages.
• When considering estimates from the SRI Golf Economy Report 2005,1 the
  impact of the golf industry in Europe is approximately thirty percent of the size
  of the US golf industry in revenue terms, but it is growing faster.