Golf Majors have reached a fulminant increase in the past few years, however, there is a series of factors that led to this. Which are they and what plans are prepared for most golf majors?
Golf Majors Influencing the Economy?
When the PGA Championship took place in Wisconsin, 2015, big names such as Jordan Spieth, were making the headers of all newspapers. At that time, the PGA Championship was believed to have had an impact of over $100 millions on the region of Wisconsin. However, how is the impact quantified and what are the sectors taking full advantage off of this impact?
As expected, when such a great event as PGA Championship, which is one of the most professional golf majors in the world, is organized in a specific region, that region is expected to increase revenue. A sure win from organizing these events is the economy of small businesses, such as hotels or restaurants, even small shops.
How Is the Employment Rate Affected?
Ever since Barack Obama’s passion for playing gold was revealed, most golf majors have become a target for the public eye, USA starting to slowly transform it into a hobby of the nation. The exposure that Obama invested golf majors with has been incredible, moreover that it had a huge impact over USA’s economy. The World Golf Foundation estimated an income of $68.8 billion every year going to USA’s economy, due to everything revolving around this sport.
However, golf majors winners are not only influencing the financial and monetary side of the business. The fact that one of 75 people in USA work in this sector shows the potential of golf majors as an authentic industry, like it happened with golf betting. According to recent studies, it has been shown that most gold majors support close to 40,000 jobs in USA, which is of big importance.
The State of Gold Majors Now and Their Future
Seeing the famous Tiger Woods, as the gold player that brought majors to a climax point, the future of golf majors winners looks promising after this peek. One main characteristic of these competitions is the fact that it attracts diverse audiences, which leads to being a sport for many people. Moreover, the supporting industry, such as companies creating equipment, have registered high demand. This phenomenon is in close connection to majors becoming a sport of interest for many people all over the world.
Since most golf majors have taken on the USA economy up to a great extent, the companies ensuring equipment have increased their revenue. Moreover, the facilities, schools and private courses have contributed highly to this increase in revenue. Newspapers and books talking about winners of majors, as well as websites giving golf betting tips, are contributing to golf popularity more and more. Apart from that, this is a sport which can be practiced at any age, which is adding to the popularity this sport enjoys.
All in all, golf has always benefited from high exposure, reaching the climax when golf majors received even more positive applause. From creating new jobs, to sustaining the local business and the supporting industries, golf majors are becoming a real economical phenomenon across the world.