The golf business left an impact of 15.9 billion euros in Spain in 2022, thanks to the boom in tourism. In total, 1.4 million people came to the country to play.
Jon Rahm has become the Midas of golf. Wherever he goes, he earns huge financial rewards. After lifting the LIV Golf champion ‘s trophy last week, the Barrika native pocketed nearly 20 million euros . A triumph that allows him to close a bittersweet season in terms of sport after the disappointment at the Olympic Games, but which has brought him significant financial prizes and keeps him as the current media driving force of the entire industry in Spain.
Despite the controversial change of circuit , which will allow him to pocket 525 million dollars (471 million euros) over the next four years, his appeal remains intact. And Spanish golf has been able to take advantage of Rahm’s pull to become one of the most important sports to boost the Spanish economy. The green business moved more than 15,937 million euros in 2022 in the country, according to the conclusions of the II Study on the Economic Impact of Golf in Spain. This amount refers to direct, indirect and induced income, as well as the total production generated by golf courses and tourist spending.
This last factor is one of the most important. Golf tourism increased by 17% compared to 2018 and 1.4 million tourists came to the country to practice this sport in 2022, which places it as the European leader , according to the study developed by IE University and just presented by the Royal Spanish Golf Federation (RFEG) and the Spanish Association of Golf Courses (AECG).
Visitors come to Spain for its golf courses , but up to 8.9 out of every 10 euros spent goes to other sectors. “Golf in Spain has a much greater impact on complementary sectors , especially thanks to its leadership in golf tourism in Europe,” says Juan Santaló, professor of strategic management at IE, who led the study.
In addition, up to 382,7555 homes in Spain were owned by golf tourists in 2023 , with a total value of 82,342 million euros, which demonstrates the purchasing power and loyalty of a visitor profile that has a high impact on activities such as real estate or catering. The international fan who travels to Spain enjoys 11.9 days of stay , compared to the 7.5 days that a common tourist spends.
Golf tourism alone left 14.512 billion euros in the Spanish economy. Direct spending by tourists amounted to 5.872 billion euros in 2022, 27.6% more than in 2019. This is reflected in the labour market, as the study states that golf and its associated activities generated up to 132,994 jobs in 2022, which is 9.6% more than in 2019.
Furthermore, the employment offered by the golf industry and adjacent sectors is very healthy and stable: 93.4% are permanent contracts and 94.7% are full-time contracts. All of this has a direct impact on tourism and the dynamization of economic activity, since the high golf season takes place in the spring and autumn months .
The data from the study also indicate that the income level of golf tourists is significantly higher than that of the average tourist. Up to 29.9% of golf tourists declare themselves to be high-income, compared to 9.43% of the average tourist. Thus, 61% of golf tourists identify themselves as high and medium-high income, compared to only one third of the average tourists.
Golf courses are touching profitability
One of the major pending tasks for the sector is profitability . In fact, only 47% of golf courses in Spain ended the year in the black before the pandemic. In recent years, the situation has improved and already in 2022, 60% of the courses were profitable , and forecasts indicate that two thirds of the courses ended the 2023 financial year in the black.
Gonzaga Escauriaza, president of the RFEG, points out that “golf has gone from being seen as a simple tourist complement to becoming a key economic driver for our country”. For his part, Luis Nigorra, president of the AECG, adds that “the data show that golf is not only a sport, but an economic and social catalyst . Since the first edition of the study in 2019, we have seen how golf has changed public perception, being recognized for its dual sporting and tourist nature and considered by the Administration as a generator of wealth ”.