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Golf shows signs of recovery
Boston Business Journal by Journal staffDate: Monday, April 16, 2012, 7:48am EDT
For the first time in five years, more people are playing golf in the U.S., according to Bloomberg News.
According to the Bloomberg analysis, the number of rounds played on American golf courses has climbed for four straight months. Meanwhile revenues and stock prices are improving at companies involved in the $24 billion golf industry: Club maker Callaway, mower manufacturer Toro and apparel maker Nike, for example.
During and after the 2008-2009 recession, rounds played at U.S. golf courses dropped, and golf courses closed after a build-up that went alongside the U.S. housing bubble. The number of golfers dropped to 26.1 million in 2011, from about 30 million in the middle of the last decade, Greg Nation, senior vice president of the National Golf Foundation , told Bloomberg. |
