Corporate Sponsorships May Spearhead Golf’s Resurgence
21 Sep, 2016By: Michael Popke
Zika might scare golfers, but nothing seems to scare golf sponsors. And as the golf industry adapts to a new generation of players, sponsors appear to be taking notice.
According to MediaPost: “Worldwide spending on golf is expected to total $1.82 billion in 2016, up 5.1% from 2015, according to IEG research. The firm notes that its spending projections include sponsorship of professional and amateur sanctioning bodies and tournaments, charity fundraisers, endorsement deals and corporate hospitality.”
That projected increase exceeds expectations and suggests that the sport still attracts corporate marketers — especially alcoholic beverage makers, banks, car manufacturers, professional services providers, insurance companies and business technology firms.
Want proof? When Deutsche Bank, amid major financial woes, ended its four-year contract last week with the PGA Tour to sponsor a championship in the company’s name in Norton, Massachusetts, tech giant EMC Corp., in the midst of merging with Dell , stepped in and took over the title sponsorship of Boston’s FedEx Cup Playoffs event.
The next wave of sports travel might be destination hiking, cycling, kayaking and more, according to studies. In other words, the journey is as important as the sport, and it all adds up to good economic impact, provided planners know how to leverage it.