Sawgrass Golf Course in USAA major report in the US has estimated the overall economic impact of the sport in that country alone at an enormous $68.8 Billion (€52.4 Billion).
The key areas which the report highlights are the sustaining of just shy of 2 million jobs, an overall value of $55.6 Billion (€42.4 Billion) in wage income in the servicing of 25.7 million players on more than 15,000 golfing facilities.
The Golf 2020 study was compiled on behalf of that group which is an association of golf course owners and management groups, manufacturers and industries reliant on supply to the sector and different media groups.
As such they are unlikely to downplay the importance of the sport in financial terms but the conclusion is notable nevertheless when they claim that this one sport is worth more than the spectator income generated across all other sports and the performing arts.
The figures can be loosely compared to findings from Fáilte Ireland revealed last year which suggested that golf was responsible for 7,300 jobs in Ireland and drew in an estimated €204 million spend from overseas visitors.
When indirect and induced economic activity driven by the US golf sector is taken into consideration, the impact figure extrapolates up again to the heights of $176.8 Billion (€134.8 Billion)
“The economy has endured two significant recessions the past decade and golf has fared well,” says Steve Mona, CEO of the World Golf Foundation, administrator of GOLF 20/20.  “The health and growth of the game has a direct bearing on jobs, commerce, economic development and tax revenues for U.S. communities and industries.”
The Fáilte Ireland survey suggested that each overseas golf tourist visiting Ireland is worth almost three times the value of those who visit for other reasons. Their average spend  was about €1,300 and in 2011 their number was calculated at about 155,000
More than three-quarters said the opportunity to play golf was a very important factor in their decision to come here. On average, they played four rounds of golf during their stay. The study found they were much more likely to be repeat visitors than other holidaymakers. Some 79 per cent of those surveyed were returning visitors.