CALIFORNIA BUSINESS MINUTE
Golfing California
04-10-08
Hi, I am Tim Johnson and welcome to the California Business Minute.
A new study by the World Golf Foundation's has determined that golf in the U S
generated $76 billion in direct economic impact in 2005, up significantly from
$62 billion five years ago.
The study, the 2005 Golf Economy Report, was conducted by California based
SRI International. It updates the SRI study that measured the U.S. golf
economy in 2000. The report indicates that golf generated a total economic
impact of $195 billion in 2005, creating approximately 2 million jobs with
wage income of $61 billion.
In California, the last major analysis from 2000 identified that golfers played
39.5 million 18-hole equivalent rounds in 2000. Net of imports, expenditures at
these facilities represented $4.251 billion of sales in the same year. The total
sales, income, and tax impacts on the state economy were $7.872 billion, $4.546
billion, and $1.370 billion in 2000. Direct sales of $4.251 billion directly
supported 62,173 jobs and, through indirect and induced sales impacts, an
additional 37,609 jobs. The total value-added impact accounted for 0.4% of the
Californias gross state product in 2000.
In 2000 course superintendents and their staffs spent $824 million and worked
the equivalent of 13,799 full-time jobs to care for 113,672 acres of the states
977 golf courses. Thats a ratio of 36,000 people per course given the number of
courses divided by the states population.
I am Tim Johnson and this has been the California Business Minute.
|
