San Diego Golf Industry Economic Value Pegged at $3.7 Billion
Impact equal to hosting 10 Super Bowls or 37 Comic-Con Conventions
SAN DIEGO, Calif. – In 2008 the game of golf in San Diego County had a total direct and indirect economic value of $3.7 billion and was responsible for 26,900 jobs, according to a study released today by the National University System Institute for Policy Research (NUSPIR). Spending on golf-related supplies and services from those living outside of the county totaled $1.5 billion. This is equal to the region annually hosting 10 Super Bowls or 37 Comic-Con conventions. Golf-related enterprises realized more revenue in 2008 than the region’s aerospace ($1.8 billion), agriculture ($1.6 billion), or software industry ($1.6 billion) industries. The report examined 2008 figures as this is the most recent year for which accurate data is available.
NUSIPR’s study breaks new ground in aggregating the economic value of all the component parts of the golf industry: equipment manufacturers, professional tournaments, golf-related tourism, and the retail sale of golf equipment and apparel. While the value of some these component parts have been individually estimated, the NUSIPR study is the first time where the entire value of all the parts of the industry have been aggregated in one report. This is important as there are a myriad of synergies between these parts. For example, the region’s golf equipment companies benefit from being able to demonstrate their goods at golf courses in close proximity to their research and development facilities, and the presence of 90 courses in the region helps fuel golf-related tourism.
The report found that the most valuable part of the industry were the region’s golf equipment manufacturers and wholesalers, which in 2008 realized approximately $1.9 billion in revenues and employed 6,700 workers. In large part because of the region’s golf equipment manufacturers, NUSIPR found that San Diego and Providence Rhode Island (home to Acushnet) compete to be either the first or second metropolitan area in the nation when it comes to employment associated with Sporting and Recreational Goods Manufacturing.
The report estimated that in 2008 course revenues exceeded $400 million and golf tournaments and golf-related tourism had estimated revenues of $247 million. The report did not include the 2008 impact from the U.S. Open at Torrey Pines (estimated at $142 million) as it was a non-recurring event.
“San Diego should be considered the golf capital of the United States,” said NUSIPR President W. Erik Bruvold. “While other regions may be home to more courses or have more golf-related tourism, San Diego is unique in having four vibrant cornerstones of the golf economy. The region hosts multiple professional events, supports 90 golf courses, and is home to the industry’s leading equipment manufacturers.”
In addition to golf-related industries creating $1.9 billion in direct economic activity, as the revenues derived from the game circulate through the greater San Diego economy, another $1.8 billion is generated in indirect and induced economic activity. NUSIPR estimates San Diego’s total Gross Regional Product in 2008 was $170 billion, making golf equal to more than 2% of the Gross Regional Product.
To read the full report, go to www.nusinstitute.com.
About the National University System Institute for Policy Research
The National University System Institute for Policy Research, (NUSIPR) is a non-partisan organization that formulates and promotes high quality economic, policy, and public-opinion research so as to improve the quality of life enjoyed by the region's citizens.