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philipgodfrey · 2 years
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Castles are some of the most defining characteristics of the European landscape. During the Middle Ages, Europe was fractionated into tiny kingdoms. To defend their land against invaders, royals built fortified castles where their subjects could retreat in times of war. As royal families forged alliances and grew, members often required their castles to reside in. This caused a proliferation of castles and large chateaus across the continent.
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philipgodfrey · 2 years
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A Look at the Economics of Golfing
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The golf business is worth $84.1 billion and employs approximately two million people. The industry is larger than the movie and video industry, performing arts and spectator sports, and the newspaper industry, with around 15,000 establishments. According to the National Golf Foundation's (NGF) golf industry report, more than a third, 30 percent (101million people) of the US population, played, watched or read about golf in 2020. Traditional participation has been stable in recent years, with about 36 million on-course golfers and off-course golfers in 2020. 24.8 million people chose to play on golf courses, while 12.1 million played off a golf course. In the aftermath of the COVID-19 pandemic lockdowns, individuals were more interested in the socially isolated outdoor sport of golf. This eventually led to the growth of the game in 2020. Since 1997, the game had the biggest percentage gain among novice and young players in 2020. Despite many jurisdictions limiting or prohibiting golf for weeks or months in the heat of the pandemic, the net increase of players amounted to a significant increase in rounds played. With course closures and limitations, the NGF predicted a 20 million round loss in the spring, but by the end of 2020, 502 million rounds had been reported. That was over a 14 percent rise compared to 2019 and the most significant one-year growth since 1997 when there was a 63-million-round increase due to Tiger Woods's popularity. According to the NGF, the number of rounds played in 2021 was up 16.1 percent from 2020 by the end of July 2021. While the July results were down 3.1 percent from 2020, a month in which virtually all golf courses were reopened following pandemic closures in several states, the 2021 percentages are much higher than previous year averages. In addition, the average number of rounds played by golfers increased to 20.2 in 2020, a new record, as younger golfers, particularly females, witnessed considerable increases. The number of female golfers increased by eight percent in 2020, the biggest increase in five years, while on the other hand, forty-four percent of those who played golf on a course in 2020 were below 40 years old, and about the same number of persons in their 30s. Callaway Golf, a corporation based in the United States that owns multiple golf equipment and clothing brands, has upped its earnings estimate for the whole year of 2021. According to the company's CEO, more individuals are joining golf courses, and the long-term trends will be highly appealing. The effects of the pandemic continued to take their toll, with many players choosing not to play golf due to fears about the pandemic or economic difficulties. Nonetheless, for the third year in a row, in 2020, more golfers entered the game than left it. Amateur golfers numbered 17 million, up 1.5 million from the previous year and 4.2 million higher than 2016. Despite prohibitions on profit-oriented public activities, private clubs made a considerable profit. According to the NGF, about seventy percent of private clubs indicated they were in good financial shape in late 2020, and rounds at private clubs increased by about 20 percent, more than the 12 percent growth witnessed at public golf courses. The private clubs may have profited from its stay-at-home option as travel was largely restricted in 2020.
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