Golf worth €4.2Bn to Portugal’s economy and €120 million of GDP

 In Economy, Golf, News, Tourism

The economic impact of golf in Portugal from 2019-2023 amounted to €4.2Bn, about 1.6% of national GDP in 2023.

The sport directly contributed €120 million to the nation’s GDP. Most of the value generated by the sector resulted from golf courses located in the Algarve region, with €100 million reflecting the distribution of courses across the Algarve.

In the same year, direct exports from the sector amounted to €149 million. Associated with this impact, the sector contributed to the creation of 110,000 jobs, corresponding to over €2,2Bn in salaries.

The volume of business generated by golf courses in Portugal exceeded the pre-pandemic period in 2019 by 40%

These are the results of the Economic Impact Study of Golf in Portugal, promoted by the National Council of the Golf Industry (CNIG) and the Confederation of Tourism of Portugal (CTP), and produced by Ernst & Young Parthenon which looked at golf in Portugal from 2019 to 2023 and estimated its economic impact for the same period.

The Algarve clearly stands out in Portugal as the main region for golf, with a strong position in the international market, which allowed it to capture 62% of the rounds in Portugal, mostly from foreign players, in particular the British (about 46% of the rounds in the region). The British market was followed Swedish golfers (8%), the Portuguese and the Germans (both with 7%) and, in fifth place, the Dutch (3.5%).