“This report clearly indicates the golf industry’s importance to the U.S. economy,” said Ruffin Beckwith, World Golf Foundation’s senior vice president. “It also serves as a measure of the progress of the industry’s efforts to grow interest in the game and to meet our target of having 55 million participants by the year 2020.”

Over the past 15 years the golf industry has grown substantially, far outpacing inflation, and is expanding in a manner consistent with the most optimistic projections made by the National Golf Foundation in the late 1980s. When compared to sales in other industries, the golf industry, at $62 billion, fares well. For example, the motion picture and sound recording industry measured approximately $57.8 billion in 2000, and the amusement, gambling, and the recreation industry measured about $55.9 billion, according to government census data.

A multidisciplinary team of researchers from SRI's Economics and Organizational Development practices conducted the study. “The comprehensive approach and level of analysis that SRI researchers brought to this study of the golf economy translates well to other sports and industries, which can benefit greatly from this type of knowledge,” said Matty Mathieson, director of SRI’s Economics Practice. He notes that benefits gained from such understanding of an industry’s scope include the ability to develop a strategic long-term investment strategy with specific goals, and the provision of benchmarks to monitor such a strategy over time.

To determine the scope of the golf economy, SRI researchers analyzed existing studies and data sources such as government census statistics, state-level golf impact studies, and annual reports from golf-related firms and associations. Input was taken from industry experts and stakeholders, as well.

SRI’s report identifies the financial contributions of multiple aspects of the golf industry, such as golf facility operations ($20.4 billion), golf course capital investment ($7.8 billion), golfer supplies ($5.9 billion), and media, tournaments, associations, and charities ($4.4 billion). Also included is the impact on “enabled” industries, such as hospitality/tourism ($13.4 billion) and real estate ($9.9 billion).

About SRI International
Silicon Valley-based SRI International (http://www.sri.com/) is one of the world's leading independent research and technology development organizations. Founded as Stanford Research Institute in 1946, SRI has been meeting the strategic needs of clients for more than 55 years. The nonprofit research institute performs contract research and development for government agencies, commercial businesses and private foundations. In addition to conducting contract R&D, SRI licenses its technologies, forms strategic partnerships and creates spin-off companies.

About The World Golf Foundation and GOLF 20/20
GOLF 20/20 is a golf-industry initiative that focuses on the growth of the game, both participation and interest, and it receives support from many of the industry's major stakeholders. It is part of the World Golf Foundation, which also oversees the World Golf Hall of Fame, The First Tee, and the National Minority Golf Foundation.