Golf Courses & Country Clubs

The 10,100 golf courses and country clubs in the US can be broadly classified as public, private, or semi-private facilities. Golf courses typically offer only golf, and related golf services or products, while country clubs usually offer more extensive recreational activities, such as swimming and tennis. Country clubs also tend to be more private facilities, and usually offer more social services, such as a full service restaurant, formal dining room, and banquet/meeting facilities.

Environmental And Government Regulation

Golf courses and country clubs are heavily dependent on fungicides, insecticides and fertilizers to control insects, turf diseases, and to keep the various grasses green and in tip-top playing condition.

Ownership Of Multiple Courses

With so many golf courses across the nation struggling to survive, some opportunistic investors are finding success in acquiring and operating multiple courses in one geographical area as a way to pool resources, reduce maintenance costs, and market attractive combined playing options.

Sep 11, 2026 - Golf Play Falls in Peak July Month

• US golf courses saw a notable July slowdown, with national rounds played falling 3.6% year over year, the first meaningful decline of 2026 and the steepest July drop since 2021, according to a National Golf Foundation report. The pullback matters because July typically accounts for about 12% of annual play, and none of the eight US regions posted growth. Weather was a major factor in several markets, including New York (-13%), Texas (-11%) and New Jersey (-8%), while California, Arizona, Michigan and Nevada also posted sizable declines. Despite July’s weakness, underlying demand remains solid: rounds through the first seven months of 2026 were still 2.5% above 2025’s record-setting pace. For course operators, the data suggest short-term weather volatility rather than a broad demand reversal, though continued softness could pressure green-fee and ancillary revenue.
• Falling consumer confidence could soften demand for US golf courses and country clubs as households become more selective about discretionary spending on rounds, memberships, dining, and other club services. The University of Michigan Index of Consumer Sentiment fell 7.5% in September to 47.8 and was 13.2% below a year earlier. Its Current Economic Conditions Index declined 1.9% to 50.9, while the Consumer Expectations Index dropped 11.1% to 45.8, signaling greater caution about future finances. Separately, The Conference Board Consumer Confidence Index edged down in August to 89.4 from 90.2. Its Present Situation Index improved to 121.2, but the Expectations Index fell to 68.2. For operators, weaker confidence could pressure discretionary rounds and ancillary spending, while memberships may provide a steadier revenue base.
• US golf course development is at its highest level since 2013, supported by strong demand as on-course participation has increased by more than 4 million golfers over the past five years, according to the National Golf Foundation. Active projects are nearly double the recent pre-pandemic average, signaling renewed investment in the golf course and country club industry. Development is concentrated in Florida, Texas, and South Carolina, which account for 40% of activity, reflecting population growth, tourism, favorable climates, and land availability. New development also favors the private and high-end segment, with more than half of planned or under-construction courses associated with private clubs. Despite the expansion, significant oversupply appears unlikely because high land and construction costs limit development. Overall, moderate supply growth combined with elevated participation should support course utilization, membership demand, pricing, and investment, particularly for private clubs and facilities in fast-growing markets.
• According to the BLS's Consumer Price Index, the cost of club membership for shopping clubs, fraternal, or other organizations, or participant sports fees decreased 0.1% in August 2026, compared to a year ago, and was down 1.3%, compared to the previous month. Labor costs were up in June 2026, with average wages for nonsupervisory employees at golf courses and country clubs up 3.3% compared to a year ago, reaching $21.41 per hour, according to the BLS. Employment by golf courses and country clubs was flat in June 2026 compared to a year ago. In the past decade, employment by golf courses and country clubs has risen 11.5%, comparable to the 10.8% rate for overall private employment. Producer inflation for golf courses and country clubs increased 6.3% in July 2026 compared to a year ago, per the BLS.

Industry size & Structure

An average golf course generates annual revenue of about $3.5 million and employs about 49 workers.

• Around 10,100 courses generate revenue of $31.5 billion and employ 439,300 people.
• The golf courses and country clubs industry is highly fragmented with the 50 largest firms representing just 19.4% of revenue.
• About 12% of courses closed between 2006 and 2023.