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.
What Is The Outlook Of Golf Based Residential Developments In India?
According To Ken Research The trend of golf based real estate projects was initiated way back around 2000 by few of the prominent real estate developers namely Jaypee, Sahara and DLF. Due to the overwhelming success of real estate projects, now almost ~% of the newly developed golf courses are constructed as a part of residential communities.
In 2015, there were a total of ~ real estate golf based projects across India. These golf courses were a part of premium townships which was developed by few prominent real estate developers.
Nowadays, there has been a growing tendency among real estate developers to construct mini golf courses/driving range instead of 9/18-hole golf courses in their real estate projects. This implies that golf is no more restricted to integrated townships but is also becoming a part of small townships.
Elite class population is regarded as the proximate target group for golf based real estate properties, since they always have a higher tendency for luxury apartments with massive green space. These projects have almost ~% of the area open with green space. Nowadays, almost around ~% of the newly developed golf course have been an integral part of resort oriented real estate projects or residential communities, According To Ken Research.
What Is The Existing Scenario For Golf Facility Operations In India?
Golf course development in India has seen a rapid spurt over the last 6 years. Due to the high premiumization associated with golf centric real estate properties, there has been initiation of numerous golf projects across the country. There are few prominent golf courses that have been developed in the past few years which are at par with international standards. These courses have been designed by legendary golfers such as Jack Nicklaus and Gary Player which are favored by inbound golf tourists.
According to IGU, currently as on August 2016, there are a total of ~ registered golf courses, out of which ~ are civilian golf courses and the rest are armed golf courses. The majority of the golf courses are located in proximity to urban centers with most of them located close to NCR, Bangalore, Hyderabad and Mumbai. In India, playing golf is still considered as a status symbol among golfers. However, this image is forecasted to change in the coming years as golf participation rate will increase among people from mediocre background. Moreover, the involvement of women’s and junior golfers is anticipated to mark promising growth in terms of target population for golf industry. According To Ken Research.
Topics covered in the Report
- Number of Golf Courses in India
- Golf Tourism India
- Golf Industry Competition
- Prize Money Golf India
For more information about the publication, refer to below link:
https://www.kenresearch.com/consumer-products-and-retail/sporting-equipments/india-golf-market-outlook-2020/60303-95.html
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