World Golf Tourism Market to Grow at 14.24% CAGR to 2021

ReportsnReports.com adds Global Golf Tourism Market 2017-2021 latest research report; the analysts forecast the global golf tourism market to grow at a CAGR of 14.24% during the period 2017-2021.

March 9, 2017 /MarketersMedia/ —

Analysts forecast the global golf tourism market size to reach USD 44.6 billion by 2021. The Americas will be responsible for generating most of this revenue, driven by a large number of golf facilities operating in the region. Commenting on the golf tourism market report, an analyst said: The latest trend gaining momentum in the market is advances in golf technology.

Complete report on golf tourism market spread across 65 pages, analyzing 5 major companies and providing 22 data exhibits are now available at http://www.reportsnreports.com/reports/857413-global-golf-tourism-market-2017-2021.html

Manufacturers in the golf industry are making continuous efforts to develop technologically advanced equipment to attract enthusiasts. Vendors are developing modern, customized golf equipment to motivate consumers to replace their equipment with upgraded versions. Players prefer using equipment with the latest technologies, which helps them understand their movements while striking the ball and monitor the interaction between the golf club and the ball.

The following companies as the key players in the global golf tourism market: Golfasian, Golfbreaks, PerryGolf, SGH Golf, and Your Golf Travel. Other prominent vendors in the market are: Asian Tour, Carr Golf, Direct Golf Holidays, Haversham & Baker, and Premier Golf. Order a copy of Global Golf Tourism Market 2017-2021 report @ http://www.reportsnreports.com/purchase.aspx?name=857413

According to the golf tourism market report, one of the major drivers for this market is growing number of golf courses worldwide. Though golf courses remain highly concentrated in the top 20 golfing nations, their number is increasing across the globe. In January 2015, a total of 34,011 golf facilities were identified worldwide. Most (nearly 70%) of these facilities were located in the top 10 golfing countries, including Canada, England, Japan, and the US. A number of these facilities are in private clubs, golf resorts, and golf-centric real estate, and are thus largely accessible. Seventy percent of the 34,011 golf facilities across the globe are open to the public.

In 2015, a total of 34,011 golf courses were identified worldwide. Additionally, many golf courses are under construction, driven by the popularity of the sport among consumers. More than 70% of these courses are accessible to the public, giving plenty of people the opportunity to adopt the sport. Nearly 80% of the golf courses that are currently being constructed or planned are concentrated in Asia, Europe, and North America. The developing countries in these regions have a high potential consumer base, which is expected to enable the growth of the sport's tourism market in these regions.

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Global Golf Tourism Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global golf tourism market for 2017-2021. To calculate the market size, the report considers the revenue generated from the retail sales of golf tourism packages to individual consumers.

Further, the golf tourism market report states that one of the major factors hindering the growth of this market is elite nature of game. Golf tourism packages offered by global vendors are usually expensive, particularly those involving international travel, and this might restrict the growth of the market over the next five years. Most consumers in the developing as well as developed regions are reluctant to buy these products and packages, owing to their high costs, which in turn affects the overall revenue of the global golf tourism market.

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Release ID: 176138