Ryder Cup Business of Golf.

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Presentation transcript:

Ryder Cup Business of Golf

Ryder Cup Economic Impact Economic Impact can be defined as the net change in an economy resulting from sport or entertainment event related activity

Ryder Cup Economic Impact This change is caused by either the activities involved in the development of new facilities and/or the revenue generated from visitor and public spending, employment opportunities and taxes

Ryder Cup Economic Impact The Ryder Cup is known as one of the biggest events in the sport of golf, played every two years between teams from the United States and Europe with the venue alternating between courses in the U.S. and Europe.

Ryder Cup Economic Impact 453 There are 453 golf courses in the state of Minnesota, employing an estimated 35,000 people. source: twincities.com

Ryder Cup Economic Impact One of those courses, the Hazeltine National Golf Club located in Chaska (a Minneapolis suburb), hosted the last Ryder Cup in 2016 1 source: twincities.com

Ryder Cup Economic Impact The event drew almost 300,000 attendees (setting a record) from 41 countries to the area, providing a huge boost for the local economy 300k source: startribune.com

Ryder Cup Economic Impact According to the World Golf Foundation, the sport generates $1.2 billion in economic activity each year in Minnesota. $1.2 B source: twincities.com

Ryder Cup Economic Impact According to Star Tribune, the PGA paid $4,137,654 in sales tax for concessions and merchandise sold at the course, which didn’t even include taxes paid by vendors $4. 1M source: twincities.com

Ryder Cup Economic Impact The 2012 Ryder Cup, which was held outside of Chicago, had an estimated economic impact of $135 million $70-80M source: startribune.com

Ryder Cup Economic Impact Ralph Lauren is an official sponsor of the U.S. Ryder Cup team. It’s “U.S. Ryder Cup Team” pullover retails for $165.00. $ 165 source: startribune.com

Ryder Cup Economic Impact UPS — which shipped 5.1 billion packages and documents last year — will host an onsite shipping center for merchandise purchased at the 2018 Ryder Cup. In addition, UPS will serve as ticket shipping provider for both events. $5. 1B source: startribune.com

Ryder Cup Business of Golf

DISCUSSION Questions What is economic impact? What factors influence economic impact? Do you think economic impact is an exact science? Why or why not? How do you think the Ryder Cup will impact the economy of this year’s host city?

DISCUSSION Questions What is sponsorship? According to this PPT, what are two examples of brands sponsoring the 2018 Ryder Cup? Why do you think they are sponsoring the Ryder Cup? What do you think they hope to accomplish by aligning their brands with the event?