1. My Top 3 Tips: [Title] My Top 3 Recommendations On How To Look At Central and Eastern European Golf Market Developments

2. My Top 3 Tips: [Title] No. 1: Never Over Estimate So-Called „Market Potentials“ Studies, Germany: „4 million people want to start golfing“ (fact: 600,000 registered club memberships; 0.7% participation rate) Studies: „high growth potential in Central Europe“ (fact: participation rate still < 1.0%) Studies: „popularity of the game increasing in Eastern Europe“ (fact: participation rate still < 0.1%) US golf companies telling their sales reps „sell!“ might be disappointed. Fact: Number of golfers in Europe (38 EGA countries) grew in 2000 by 235,000; in 2009 only by 50,000

3. My Top 3 Tips: [Title] No. 2: Be Aware Of (all kinds of) National Specialties

4. My Top 3 Tips: [Title] No. 3: Don‘t Believe in Blue Prints Suitable For Any Country Central and Eastern European countries do differ very much from each other. What has proven suitable for one country, for example, for Holland („GVB“ golfers paying less than 50 €/year for their golf proficiency license), will most probably not work in other European countries, a.o. for reasons of mentality High rates of unemployment, comparably low buying power and priorities other than playing golf have been, are, and will will be significant obstacles to a much higher growth of golf in Eastern European countries. Whatever part of the golf business you are in (teaching, courses, equipment, etc.), „blueprints“ may neither be transferred to Central nor to Eastern European countries. In any case, without the knowledge and support of nationals/locals you will have a hard time.

5. My Top 3 Tips: [Title] Summary: When Looking at Central and Eastern European Golf Market Developments never over estimate so-called „market potentials“ be aware of (all kinds of) national specialties don‘t believe in blue prints suitable for any country [www.billion.de]