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.
