Indian golf industry is in its infancy stage and is at the inflexion point to enter in a growth phase. Golf is witnessed to have multifold positive effects on economy by pushing the growth frontiers of core and enabled industries. 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 tourism has developed into a successful business, and there are around 8-10 tour operators tailoring their offers to match the specific needs of golfers all over the world. Elsewhere in Asia apart from India, golf tourism is high on the agenda of many countries. Cambodia and Indonesia both have small, but developing, inbound golf tourism markets – Bintan Island, which has easy access from Singapore, is popular with Singapore expats and visitors. Inbound golf tourism in India is still at a very nascent stage in India compared to other South East Asian countries. There are around 1.6 million golfers who travel to various golfing destinations around the world every year.
Growth of Indian economy as a potential business destination has fuelled the inbound tourism as it has been witnessed that a large number of business executives have started combining their business tour with a round of golf on some of the popular turfs. The average amount of money spent by international travelers in general in India was more than anywhere else in the world. Consequently, golf tourists who spend on an average 20-30% more than general tourist aided the golf tourism market in the country. Notably, India was ranked 16th in total tourism receipts in 2014 by World Tourism Organization (UNWTO). Tourism companies and travelling agents started identifying golf as a niche business which has showcased an enormous potential. Also, the success of overseas weekend golf wherein foreigners from Japan, US, Europe and other South Asian countries travel to various golfing destinations in the country on weekends has led companies to dedicate a separate business segment to golf tourism.
The number of foreign professional golfers which travels to India is currently lower, but it poses enormous potential in the future discerned by growing number of golf tournaments and development of signature based golf courses in India. This number is likely to grow multifold in the coming years.
The major potential for golf tourism lies in aging population which is continuously growing in size in most of the developing countries. India although is not much of a favored destination for international golf lovers, but the rising number of golf courses with international standards is attracting large number of golf tourists to the country. The US, the UK, Ireland, Japan, Australia, and Scandinavian countries are established destinations for golf tourists while Thailand, Malaysia, Singapore and Taiwan are few amongst the other emerging golf destinations at the global level.
The number of golf tourists in India has increased at a double digit CAGR during the last five years due to increase in number of International standard golf courses and reduction in price packages by the tour operators.
The report titled “India Golf Industry Outlook to 2020 – Growth in Golf Based Real Estate Projects and Golfers Population to Aid Market Growth” provides detailed overview on the Golf Industry and helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report is useful for Golf Tourist Companies, Golf Maintenance and Equipment manufacturers, Golf Related Equipment suppliers, Golf Courses, Golf Real Estate Developers, Golf Course Construction Companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
For more information, about the publication, refer to below link:
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Ankur Gupta, Head Marketing & Communications