CNIG

The Significant Impact of Golf on Portugal’s Economy

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A recent study conducted by EY Parthenon has shed light on the significant economic impact of golf on Portugal's economy.A recent study conducted by EY Parthenon for the Conselho Nacional da Indústria do Golfe (CNIG) and the Confederação do Turismo de Portugal (CTP) and referenced in an article by Rodolfo Alexandre Reis for O Jornal Económico, has shed light on the significant economic impact of golf on Portugal’s economy. Between 2019 and 2023, the direct and indirect contribution of the golf sector to the Portuguese economy increased by 57.4%, reaching a remarkable €4.2 billion in 2023. Most of this impact comes from the Algarve, which alone contributed €100 million of the total €120 million directly to Portugal’s GDP.

The report highlights how golf drives tourism, particularly in regions like the Algarve, where international visitors, especially from the UK, Sweden, and Germany, make up the bulk of golfers. British golfers, in particular, account for 46% of rounds played in the region. The recovery from the COVID-19 pandemic has been strong, with 2023 showing a 12% increase in rounds played compared to pre-pandemic levels, and further growth is expected with the introduction of new direct flights to Faro, such as those from United Airlines in the coming year.

The economic contribution of golf extends beyond the golf courses, impacting sectors such as hospitality, catering, and retail. The average golfer visiting Portugal stays for around seven nights and spends approximately €165 per day, further boosting the local economy. This resurgence highlights the importance of the golf industry not only for tourism but for the broader economic landscape of Portugal.

Tee Times Golf Agency Contribution

For over 30 years, Tee Times Golf Agency has contributed to the impact of golf on Portugal’s economy, promoting Portugal as a top golf destination. By offering the best golf packages and personalised service, we have helped countless golfers worldwide experience the beauty and challenge of Portugal’s renowned courses. Our long-standing commitment to sustainability aligns with the growing global emphasis on responsible travel, and we are proud to offer eco-friendly packages that prioritise environmental preservation while delivering exceptional golfing experiences.

Sustainability has become a core value at Tee Times. As the golf industry evolves, we have adapted our offerings to support environmentally conscious practices across our partner golf courses and resorts. By promoting green initiatives and working closely with local communities, we help ensure that golf tourism remains sustainable.

The findings of the EY Parthenon study underline the impact of golf on Portugal’s economy. Tee Times Golf Agency is proud to be a driving force in this thriving industry, offering unforgettable Portugal golf holidays while championing sustainability and excellence in service. Our mission remains clear as we look to the future: to continue providing world-class golf experiences that contribute to Portugal’s economic and environmental well-being.

Golf impact: a booming billionaire industry fueling Portugal’s economy

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Golf impact: an article published last month by Diário de Notícias of Portugal, shows significant numbers for national economy.An article published last month by Diário de Notícias of Portugal, “Golf has an impact of four billion euros on the economy“, shows significant numbers, with figures revealing a doubling of its contribution since 2019, now reaching €4 billion. Under this context, the golf impact also supports the creation of 20,000 jobs. These insights, provided by the Conselho Nacional da Industria do Golfe (CNIG), are part of a finalised macroeconomic study. The reported amount includes direct golf course revenues and additional expenditures like buggy rentals, restaurants, hotels, vehicle rentals, and transfers.

Golf’s growth is closely tied to tourism, with 2023 seeing record indicators. Direct revenues grew by 4% from green fees alone, totalling €160 million. Foreign tourists represent 85% of all rounds, with the UK leading, followed by Sweden, Germany, and France. However, emerging markets like the US are slowly gaining ground, particularly in Lisbon, presenting significant opportunities for growth. CNIG’s president, Nuno Sepúlveda, notes, “The North American market continues to grow but still has a low presence.”

Golf impact and visitors

Despite the dominance of foreign players, local residents still contribute 15% of the rounds, especially in Porto, Lisbon, and the islands. Sepúlveda highlights the need to attract more players from the US, Canada, and Asia, stressing that many courses need updating, as “most of our courses are between 20 and 40 years old,” requiring renovation to meet the higher quality demands of these markets.

Another key issue raised is the need for government investment. “There’s little support, and, for example, in the PRR [Portugal’s Recovery and Resilience Plan], the word ‘golf’ is not even mentioned,” the president laments. He stresses the strategic importance of golf, which brings in “high-quality markets, with long stays outside peak seasons.”

Finally, water scarcity is a looming threat, especially in the Algarve. Some courses risk closure unless desalination processes and water-saving measures are accelerated. “We can’t rely solely on rain,” Sepúlveda warns, adding, “golf courses only account for 6% of water consumption in the Algarve, and we have made significant improvements in irrigation efficiency.”

The complete article about golf impact on Portugal’s economy can be read here.

Photo by: Visit Algarve.