Golf still lucrative during crisis 01/10/2010 |
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According to a golf industry survey from KPMG professional tournament golf is proving to be financially successful despite the economic downturn.
The accountancy and business consultancy shows that during 2009 more than 6,000 players competed for a total prize money of ˆ 476m euro (£410m).
Ryder Cup golf tournament, which starts on Friday, put the event's value to the Welsh economy at £73m.
KPMG's report says that, golf has strong potential to grow Asia and South America. In South America the sport will be given a boost when it returns to the 2016 Olympics in Rio de Janeiro. Golfers such as Shanshan Feng of China have helped to boost the popularity of the game in Asia.
The KPMG report found that in the 32 tournament circuits analyzed in 2009 there were 671 professional golf tournaments in 57 different countries. The US and Europe continue to lead the field, with large prize-money funding. The US PGA Tour remains the richest, with total prize money of £410m.
The report also underlines golf's reputation as one of the most lucrative professional sports in the world. Each of the 62 players on the PGA Tour won prize money of more than 1m euros in 2009.
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