Golf’s Multi-Billion Dollar Investment

For a growing number of U.S. golf facilities, investment into improving their existing product is being driven by three primary factors: they’re better positioned financially to reinvest, upgrades were overdue, and they recognize the importance of keeping up with the competition.

After general stability over the peak season months, September saw more fluctuation when it comes to year-over-year play. How did this impact the pursuit of another potential record-setting year for rounds in 2024?

While perceived by some as a game comprised mostly of an older participant base, the numbers tell a different story — at least from a golfer standpoint. And the game gets even younger when considering golf entertainment and other off-course forms of golf.

August rounds were up in six of eight geographic regions, with all of those experiencing less precipitation than a year ago. Two regions on the East coast saw fewer rounds thanks to wetter weather than a year ago, but play at U.S. golf facilities overall remained steady through the end of the peak summer months. 

Amid golf’s increases in popularity, participation and play in recent years, how has instruction grown and evolved? This member deliverable examines the jump in the number of golfers taking instruction (and the number of lessons), and delves into engagement by ability, avidity, age, and participation segments.

The direct economic impact of golf real estate is almost $15 billion in the U.S., which has nearly 3,200 golf communities in total. And the opportunity to live in active, outdoor communities (especially those with golf courses) has only gained favor in post-pandemic years, amplified by remote work options.