Study: Florida’s golf economy generates $7.5 billion

From the most recent economic impact study done about golf.......

The sport of golf drives some $7.5 billion into the state’s economy each year – a number that one study says is on par with the combined revenues of all other major spectator sports in Florida.
And that’s just the money spent directly on golf, according to researchers for SRI International. Factor in tourism dollars, new residential construction, retail sales and other categories, and the total economic impact rises to $13.8 billion.

The results were cited this week as Florida legislators issued proclamations honoring “Florida Golf Day” and the sport’s contributions to the state coffers.

“Golf has a dramatic impact on our state,” Gov. Rick Scott said. “Florida is the Number 1 golfing destination in the world; everything that we are doing to draw people and promote our state involves golf.”

The raw numbers from Florida’s golf snapshot in 2007, the most recent year for which figures have been vetted:
• 1,128 golf courses,
• 75 stand-alone practice ranges,
• 84 miniature golf facilities,
• $4.7 billion of wage income, and
• More than 167,000 jobs.

“We want elected officials and agency personnel in Florida – whether they’re making the decisions on legislation or writing a law for this country – to recognize that we have a very good economic model,” PGA of America chief executive Joe Steranka said.

The survey estimated golf-related tourism spending in Florida to amount to $1.71 billion, ranging from 2.03 million day trips with average spending of $62 each day. Five days was the average length of the trip.

The state plays host to a dozen prominent tour stops in 2012 – six on the PGA Tour, three on the Champions Tour, two on the Nationwide Tour and the LPGA season finale. In addition, both the PGA Tour (Ponte Vedra Beach) and LPGA (Daytona Beach) keep their headquarters in Florida, as do the PGA of America (Palm Beach Gardens) and World Golf Hall of Fame (St. Augustine).