Page 40 - Las Vegas Golf & Leisure Fall 2019

[ GOLF ]

COMMUNI T Y

time or another, but in these times, prospective buyers are a little more Just more proof about the overall impact the golf industry can make
hesitant to purchase a home in a golf course community because of the on a variety of industries.
closures,” says Keith Lynam, Nevada Reators President. “We in the in-
dustry advise people to check the HOA bylaws and property deeds prior “During the past 12 months, Southern Nevada attracted roughly
to buying to make sure they understand everything. 45 million visitors. Attracting that many people year in and year
out requires a deep and diverse level of services and amenity base,”
“However, there is no denying the terrific lifestyle of a golf course com- says Jeremy Aguero, a principal at Las Vegas Applied Analysis, a
munity. It’s a beautiful setting, and there are usually many great ameni- leading firm in regards to business indicators. “Special events and
ties. The social component is rewarding as well. Even non-golfers enjoy participant activities (i.e., experiences) have become an increasing
living within a golf course community.” primary motivation for visitors to the region.”

GOLF TOURISM Fore!

GOLF T R IP S AND VA C AT IONS T O
NE VAD A GENER AT ED $744.3
CORE INDUSTRIES (in millions)
R EP OR T FINDIN GS:
Golf is a popular outdoor recreational activity that complements other » Golf Facility Operations $301
activities and attractions that draw visitors and partial year residents.
Nevada has one of the highest percentages of golf resorts in the U.S.: 20% » Golf Course Capital Investments (investment
of Nevada’s 88 golf facilities are golf resorts based on their relatively high and new construction) $15.1
share of non-resident rounds. Nevada hosts two PGA TOUR events
each year—the Shriners Hospitals for Children Open and the Barracuda » Golf-Related Supplies $42
Championship. The Shriners Open attracts over 40,000 spectators. In
addition, junior, senior, amateur, and member-guest tournaments also » Major Golf Tournaments and Associations
attract Nevada residents and non-residents to different parts of the state. $11.4
In 2018, TEConomy estimates that tourism expenditures stemming
from travelers who played golf while on a trip or vacation generated » Golf Charitable Events $37
$744.3 million.
» Total Core Industries $406.5
P ER SP E C T I V E:
It was also reported in the World Golf Foundation study that overall the ENABLED INDUSTRIES
United States golf tourism industry generated an economic impact of
$33.3 billion, up from $20.6 billion in 2011. Throughout Nevada, golf » Golf Tourism $744.3
courses and resorts are destinations for tourists who travel from around
the world to play golf in Nevada. » Golf Real Estate (new home construction and
The golf course at the Wynn Hotel and Resort was recently reopened realized premium) $326.4
after being closed for a couple years to make room for convention space
and a possible Paradise Park lagoon project. Interestingly, part of the » Total Enabled Industries $1,070.7
reason to return the course back to action was due to the financial im- » TOTAL GOLF ECONOMY $1,477.1
pact felt throughout the resort.
» TOTAL DIRECT IMPACT FOR IMPACT
“Not only does that golf course make money on its own, but we’ve un- ANALYSIS $1,242.5
derestimated the impact that it has on our domestic casino business,
allowing our host and our team to run events, special events, and run » Note: Total economic impact is calculated on
programs that will continue to enhance our casino play,” Wynn CEO the total direct impact.
Matt Maddox said during a January 2019 earnings call.

Editor’s note: The Nevada golf economic impact report was prepared by TEConomy Partners, LLC in agreement with GOLF 20/20, the
Southern Nevada Golf Association, the Northern Nevada Golf Association, the Nevada State Golf Association, the Nevada Golf Course
Owners Association, the Southern Nevada Chapter of the Southwest Section of The PGA of America, the Northern Nevada Chapter of the
Northern California Section of The PGA of America, and the Southern Nevada Golf Course Superintendents Association of America. In ad-
dition, support for this report comes from the following allied national golf organizations: CMAA, GCSAA, LPGA, NGCOA, PGA of America,
PGA TOUR, and USGA. The Nevada Golf Economic Impact Study was conducted by Jennifer Ozawa, Peter Ryan, Marty Grueber, and Dylan
Yetter at TEConomy Partners, LLC with support from Nevada’s Allied Golf Associations.

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