The Business of Sport
2020 promises to be a big year for sport with the Tokyo Olympics and Paralympics, Euro UEFA Championship football and ICC Men’s Twenty20 World Cup cricket. Many of us will be binge watching our favourite tournament, cheering on our favourite team or player and enjoying the passion and drama, highs and lows that make us love sport.
But not all sports are born equal. Some sports are niche, played by few and rarely seen, while others like soccer, basketball and tennis are played around the world, watched by millions and worth billions of dollars in sponsorship deals, broadcast rights and the sale of sportswear.
Golf is one of those big sports with a long history, prestigious tournaments and a global audience. But at the same time, golf clubs across the world are closing down and the number of people playing golf has been in steady decline for years.
The sport faces a problem, similar to big business around the world, how to broaden its appeal in a competitive and changing market, increase consumer engagement and ensure growth into the future.
Golf clubs have a fundamental problem, occupying large swathes of land that could potentially deliver far higher income if redeveloped for commercial or residential use. The more historic, beautiful and prestigious the golf club, the bigger the bills. In places like Singapore, where land is scarce, golf clubs have the added danger of their land lease not being renewed by the government.
Attracting a New Audience
While golf clubs have been closing, a new phenomenon described as golf entertainment has started to gain traction in the past couple of years and is attracting a younger crowd. Golf entertainment combines driving ranges with music, drinks and simulators to turn golf into a fun and casual night out with friends. These venues feel more like Vegas bars and night clubs than the hallowed greens of St. Andrews. Gone is the polite formality, club rules and membership, this golf comes with a drink in hand, DJ and afterparty.
When you count the number of people playing ‘off course’ golf which includes these new golf entertainment venues, participation in the sport has seen a steep rise, compared to the decline of previous years. The hope is that this more fun introduction to the game will lead more people to take up the sport and perhaps even take up membership to traditional golf clubs. This remains to be seen, but at least more people are showing an interest in hitting a golf ball. The success of this more relaxed and fun kind of golf is making traditional golf clubs rethink their approach.
It’s Different at the Top
Of course, the prestigie golf clubs with their six figure memberships fees are far less concerned. Sentosa Golf Club in Singapore which was crowned Best Golf Club In The World last year is fully subscribed with about 1,500 members and is currently not issuing any new memberships.
Sentosa Golf Club will be hosting the SMBC Singapore Open from 16th to 19th January, one of the biggest and most important tournaments in Asia which will bring over 30,000 visitors to the club’s spectacular grounds. The main title sponsor is Sumitomo Mitsui Banking Corporation, one of Japan’s largest bank.
As one of the first professional tournaments in the region, dating back to 1961 the Singapore Open is generally seen as one of Asia’s most prestigious and will be watched by audiences around the world.
The SMBC Singapore Open’s family friendly Discover Golf Carnival was so popular last year, that they decided to hold another this year. If you’re quick, you can still register to attend when it takes a place at the club on Sunday 12th January 2020.
Of course, you can also enjoy the tournament itself, take in the atmosphere and see some of the world’s best players compete for the top honours. Starting from just twenty Singapore dollars a day it really is accessible for everyone. So, whether you prefer to hit a few balls with friends at a new golf bar in town or join the crowds who attend the tournaments or simply watch from your local sports bar, there’s a type of golf for everyone.
