It wasn't surprising to see golf clubs all over the country close down given the condition of the economy.
Even Florida, the state many consider to be the capital of golf, is not safe from the slump.
Golf is not a cheap sport and while expenses are going up, earnings are going down.
The first ones to go are things that are not considered necessities like a sport like golf.
However, the golf clubs can actually help the economy and sustaining it would do the same for the economy.
Below are four ways on how golf can save the economy.
1) Spending Stimulates the Economy It's an age-old tale.
Spending is a great economic stimulus.
When money is spent, it goes to circulation which will get businesses to produce more of their products.
When businesses produce more, they employ more people which will, in turn, give more people earnings which they can use to provide for their needs.
Given that golf is a US$76 billion industry, it's a powerful economic stimulus.
In fact, this has been the trust of the Obama administration from day one.
He has been encouraging people to not be scared of spending.
Obama argued that spending helps the Gross Domestic Product (GDP) growth.
This is far better than freezing money which will consequently freeze the economy too.
The administration maintains that spending more is better for now.
2) Employment and National Impact The golf industry employs approximately 2 million people with a wage impact of $61 billion nationally.
The 2 million employment is bigger than it appears to be.
Employment gives people the money to sustain their daily living, education, health, and other necessities of themselves and their family members.
This means that an easy 20 million more people may be affected indirectly.
Giving people the money to spend will encourage them to spend them on restaurant meals, clothes, education, trips, PCs or toys and others.
The spending power empowers more investments in mainframes, production equipment and other capital expenses that grows productivity and drive economic growth.
There is a reason why government does everything they could to improve employment.
3) Grows the Tourism Industry Golf tournaments can feature 1 million feet of exhibit space and can draw an estimated 45,000 spectators weekly.
The 45,000 guests will spend beyond the golf tournament which boosts the tourism industry.
Hotels, restaurants, manufacturers of marketing materials, and others all benefit from golf tournaments.
Given that the golf is primarily geared to Class A, B and Upper C, the one that have spending power, the spending is also generous.
4) Warms the Otherwise Frozen Assets Golf courses are left cold whenever golf courses close down.
In the end, these properties don't produce any income for anyone when it is not utilized for business.
Running tournaments and the daily golfers who use the course for practice all contribute in transforming a real estate to a liquidating asset.
Golf, although for the elite, affects a wider audience.
Just like any other sport, its effects go beyond the athletes that play it.
Keeping it alive doesn't only help the brands, the businessmen, and the players, it helps the economy in general.