Golf Generates Millions for Business

Golf Generates Millions for Business

 

Kathy Bissell

 

According to the PGA of America and officials in Chicago as well as research group SRI, the Ryder Cup generated approximately $130 million in revenue for the greater Chicago area, with $70-80 million coming in to DuPage County, which was the location of the event. 

 

“Approximately 40,000 people were in the Ryder Cup gallery daily, and many of those fans are from outside the United States,” said 2012 Ryder Cup General Chairman Don Larson. “This not only benefits businesses like hotels and restaurants, but also provides a wonderful way to showcase DuPage County and great city of Chicago on a global stage.”

 

Allen Wronowski President of the PGA of America added, “The impact of golf is felt each and every year from the more than 675 (Illinois) golf courses- small businesses- that are making a huge impact on communities all across Illinois each and every year.” There are approximately 15,000 golf courses in the US.

 

According to SRI International, Illinois’golf industry generated a total economic impact of $4.8 billion in 2007, supporting over 50,000 jobs with wage income of $1.5 billion. The total amount of charitable giving attributed to the game of golf in Illinois was $113.2 million in 2007.

 

In addition to the business benefit of the golf tournament, there were significant amounts of charity money raised. According to the PGA of America, the Ryder Cup Community Relations program, which featured the teamwork between The PGA of America and Medinah Country Club, generated more than $3.2 million in funds which benefit 100 charities.

 

Florida’s Golf Economy according to a 2007 study done by SRI is $7.44 billion. Given the recent national economic situation, that number is slightly lower today, but a more recent study has not been done.  Golf is still a large revenue generator for the economy as a whole. 

 

Numbers  below are in millions. 

 

Industries
Golf Facility Operations		$3,449.4
Golf Course Construction and Capital Investment		$352.9
Golf-Related Supplies (retail margin and manufacturing exports)		$206.1
Major Golf Tournaments and Associations		$377.0
TOTAL CORE INDUSTRIES		$4,385.4
Enabled Industries
Real Estate		$1,382.4
Hospitality/Tourism		$1,705.1
TOTAL ENABLED INDUSTRIES		$3,087.5
TOTAL GOLF ECONOMY		$7,472.9