April 6, 2015

ITS DECLINE WOULD SAVE IT:

Handicapped  (The Economist, Dec 20th 2014)

Golf has more than itself to blame for its challenges. Its decline is due in part to something even the most meticulous golfer cannot control: the economy. Paying to spend hours getting a white ball into tiny holes with as few strokes as possible becomes harder to justify during times of economic hardship. In 2008 golf participation and spending slid at private clubs and public courses alike.

Since the economy has picked up, benefiting the rich more than the poor, high-end courses in good locations have been doing well, according to Donald Trump, who owns 18 of them. People earning $100,000 or more now make up 45% of all golfers, up from 40% in 2005, according to KeyBanc Capital Markets. The middle and lower classes have been squeezed, which hurts mid-range golf courses and those in sparsely populated areas. Many municipal golf courses have closed, because governments are unable to justify support for golf when they have cut spending on education and social services.

Cut the fees to something reasonable and we'll play.

Posted by at April 6, 2015 6:18 PM
  

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