2010-07-30 17:46

http://blog.drapt.com/kfbkooki/460781280479617294

·   Chartacteristics of Golf Industry

ü  As golf is considered as consumer goods & luxury goods, it is influenced by economic fluctuation, leisure time etc. 

ü  Entry barrier due to high initial capital investment

ü  Industry which is highly influenced by transportation infrastructure, amenities, location, accessibility and etc.

ü  Industry which is highly influenced by public sentiment, government policy etc

·   Demand

ü  Increase in demand of golf: In 2008, no. of golfers reached 24,843,000 persons, 11.7% of CAGR (1990-2008), thanks to the growing popularity of golf and leisure time with the implementation of weekly five-day-work system and it is prospected to keep the upward trend for the time being.  People have been spending more on leisure because the time they allocate for leisure is considered more precious or more valuable than in the past.

·   Supply

ü  The no. of golf courses in operating as of end 2009 are 339, increased by 28 compared to 311 in 2008. No. of golf courses steadily increased from 1998 and it is sooner or later expected to enter the age of competition in southern part of Korea. But, it is considered that no. of golf courses in Korea are now insufficient compared to the developed country. That is, as demonstrated below table, no. of population per GC in Korea reaches 173,057 persons, which is 8.8 times of America, 12.1 times of Canada, 5.4 times of England and 3.3 times of Japan. This can be analyzed that golf industry in Korea still has growth potentials in the future in spite of steady supply of golf courses.  

 

(Unit: persons, as of end 2007)

Classification	Korea	U.S.A	Canada	U.K.	Japan
No of population per GC	173,057	19,617	14,294	31,800	52,403
Korea / Other contries	-	8.8	12.1	5.4	3.3

 

Total No. of GC as of Dec. 2009 including “In operation”, “Under construction”, & “ In planning”

	Total	Incheon	Gyeong gi	Busan	Ulsan	Gyeong nam	Daegu	Gyeong buk	Gwang ju	Jeon nam	Daejeon	Chung nam	Chung buk	Gang won	Jeon buk	Jeju
Membership	255	2	87	5	2	22	1	23	1	14	1	11	17	32	8	29
Public	222	4	60	2	2	13	1	26	3	23	2	10	14	27	20	15
Total	477	6	147	7	4	35	2	49	4	37	3	21	31	59	28	44
Population (Unit:’000,000)	49.0	2.5	21.2	3.6	1.0	3.2	2.5	2.7	1.4	1.9	1.5	2.0	1.5	1.5	1.9	0.6
No of GC per 1Mn persons	9.73	6.46		5.90			9.81		12.42		12.00		10.33	39.33	14.74	73.33

Note) No of Population in Gyeonggi includes Seoul.

 

No. of GC in operation as of Dec. 2009

	Total	Incheon	Gyeong gi	Busan	Ulsan	Gyeong nam	Daegu	Gyeong buk	Gwang ju	Jeon nam	Daejeon	Chung nam	Chung buk	Gang won	Jeon buk	Jeju
Membership	193	1	75	4	2	13	1	16	0	11	1	8	12	20	4	25
Public	146	3	43	2	1	5	1	19	0	14	2	4	10	18	10	14
Total	339	4	118	6	3	18	2	35	0	25	3	12	22	38	14	39
No of GC per 1Mn persons	6.92	5.15		3.46			7.12		7.58		6.00		8.33	25.33	7.37	65.00

(Source: www.kgba.co.kr)

0