American Golf back on track as economic vows soften: Bloomberg News
Americans are back in the business again at the top of the Official World Golf Rankings after consecutive major victories by the glistening new breed of golfers on the PGA.
According to recent statistics released by the business news portal Bloomberg News, golf is experiencing a swift upsurge in popularity in the country as the economy is gradually coming out of the massive recession it has been battering since 2008.
Golf analysts, however, beacon towards other impetuses which have helped revive the sport in the recent years.
Keegan Bradley’s major victory at the PGA Championship in 2011 was one of the major breakthroughs for the American golf, as he was the first American who landed a major title after Phil Mickelson’s 2010 Masters victory at Augusta National.
According to the stats, more people have now registered as regular members of the golf clubs around the country in the last five years.
The News giant also released stats for the current season and says that the number of golf rounds played across the breadth of the country has experienced a constant rise in the last five months.
The stock prices of the various equipment manufacturing giants related to the sport of the likes of club maker Callaway, mower manufacturer Toro and apparel maker Nike etc have also seen a positive trend in the revenues for the current fiscal year.
The sport has been battering the massive recession that hit the country in the mid of 2008 primarily due to housing loans and mortgage meltdown.
The number of people who played golf reduced to 26.1-million in 2011 to a once high of 30-million in the middle of the last decade.
Many of the private golf clubs owned and operated by a small board members, suffered severe decline in revenues as members decided to pull out in wake of rampant unemployment and job vows.
In order to sustain the massive decline in membership, clubs resorted to small short-term memberships and lucrative weekend offers for the players.
Some of the bigger clubs were put on sale for they were not able to pay off their pending loans to their respective banks and were either foreclosed or auctioned by the bank.
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