How much is the valuation of Golf Economy in India?
Posted on 13 December 2016 by KenResearch Consumer Products and Retail,
Golf is witnessed to have multifold positive effects on economy by pushing the growth frontiers of core and enabled industries. Core industries are comprised with Golf course capital investment, golf facility operations, golf tournaments and endorsements and golf related supplies and equipment. Enabled industries include golf tourism and golf based real estate developments in India.
In the last few years, many autonomous and government bodies such as Indian Golf Industry Association (IGIA), Golf Course Superintendents and Managers Association of India and India Golf Tourism Association (IGTA) in alliance with Ministry of Tourism have spent considerable time and efforts to promote golf among the masses.
Golf as a sport has developed remarkably in India supported by rising income level of middle income group, improving purchasing power, elevating middle class populace, and surge in number of corporate events, growing exposure of media and greater participation in sport by youth.
Golf course in India has not yet developed as compared to other South Asian economies such as Malaysia, China, Japan, Thailand and Korea specifically.
Malaysia is rapidly emerging as South-East Asia's latest golfing haven. The country has currently ~ golf courses with a total registered golf members reported at ~.
There are around ~ golf courses in Thailand which have registered ~ golf members during 2015.Destination diversity and the vast choice of golf courses located throughout the country are key factors attracting the large numbers of visitors coming to play golf in Thailand
Most of the golf courses in Korea are far from the city and are quite expensive which has kept the golf members to the level of ~ during 2015. Currently, with ~ golf courses, around ~ golf courses are in a state of impaired capital and ~ golf courses are under control of the courts
The golf economy in general has contributed direct value of worth INR ~ million during 2015. Moreover, the golf economy has managed to generate ~ jobs during 2015 with an aggregate value of INR ~ million. Golf based real estate has contributed the highest aggregate value of INR ~ million to the golf economy, owing to the substantial premium been added to the golf based real estate properties which has been evaluated at ~%. Followed by this, golf facility operations which comprises of revenues from golf courses has contributed an aggregate value of INR ~ million during 2015.
Ankur Gupta, Head Marketing & Communications