Golf industry remains very strong in the US

A new report from analysts at Bank of America Global Research shows that rounds played, club sales and spending at golf courses in the USA remains very strong, nearly three years after the pandemic started.

There was even an increase in rounds played and spending in October 2022 compared with September 2022, although Hurricane Ian may have skewed the September results.

Both rounds of golf played in 2022 and the current values of some of the biggest companies in the golf industry are significantly above pre-pandemic levels.

‘The golf business has maintained most of the momentum it picked up during the pandemic,’ reports the markets editor at Yahoo Finance.

‘The continued strength of this industry will be one of the more interesting economic subplots to track in 2023.’

Spending on golf in 2022 has been well above pre-pandemic levels, and only down 1.1 percent when October 2022 is compared with October 2021 (and down 7.2 percent compared with October 2020).

The value of Acushnet (GOLF), which owns the Titleist and FootJoy brands, is up 35 percent since early 2020, while golf retailer Dick’s Sporting Goods (DKS) has grown by a staggering 140 percent in less than three years.