19/10/2024
GOLF GENERATES €4.2 BILLION FOR PORTUGAL’S ECONOMY
Algarve accounts for 60% of golf activity in Portugal
A study on golf has concluded that the sport continues to be a significant contributor to Portugal’s economy, generating €4.2 billion in 2023.
The sport not only accounted for 1.6% of the country’s GDP last year but also created more than 111,000 jobs, with total wages exceeding €2.2 billion.
The numbers come from a study revealed this Thursday by Portugal’s National Council of the Golf Industry (CNIG), which highlights the sport’s role in reducing tourism seasonality, particularly with its popularity outside the high tourist season.
Unsurprisingly, the Algarve remains the country’s top destination for golfers, representing over 60% of golf activity in the country.
In 2023, the industry directly contributed €120 million to Portugal’s GDP, while golf-related exports reached €149 million. Meanwhile, business from golf courses has surged by more than 40% compared to pre-pandemic levels in 2019.
The study, conducted by Ernst & Young Parthenon and commissioned by the CNIG and the Portuguese Tourism Confederation (CTP), examines the economic evolution of the sport from 2019 to 2023.
The CNIG, established in 1995, represents Portugal’s golf industry and works to advocate for the sector with public and private entities both domestically and internationally.
