Title: “Driving Economy: The Economic Impact of Golf in Coastal South Carolina: A Case Study of Tidewater”
Golf is more than just a sport in regions like Coastal South Carolina, it’s a way of life. Often called the ‘Golf Capital of the World,’ Myrtle Beach, with its crowned jewel, The Tidewater Golf Course, is leading the charge, propelling the local economy in ways few appreciate fully. This article explores the economic impact of golf in Coastal South Carolina, focusing on the Tidewater area.
To truly understand the economic powerhouse that golf represents, it’s essential to appraise the sport in its entire context. Year after year, Myrtle Beach braces itself for over 3.2 million golf-playing visitors, with thousands of them flocking to the Tidewater course. The revenue generated from green fees alone is a substantial contribution to local coffers.
Beyond the green fees, the golf operations also significantly contribute to the local economy by creating jobs in various associated industries. From course maintenance to golf coaching, from resort management to guest services, from food and beverages to hotel accommodations, golf is a significant driver of employment in the Coastal South Carolina region. The Tidewater club, for instance, employs hundreds from the local communities directly and indirectly as a testament to golf’s economic importance.
The golfing industry also exerts a crucial influence on tourism, an industry synergistically tied to it. Golf tourists are discerning spenders and contribute significantly to restaurants, lodging establishments, and shopping outlets. It’s estimated that the average golf tourist spends around $1,100 per trip excluding the golf expenditure in Myrtle Beach. With tens of thousands teeing off at Tidewater annually, their expenditure directly invigorates the local economy.
Real Estate is another meaningful beneficiary of golf’s economic might in Coastal South Carolina. Golf course communities, like those surrounding the Tidewater Club, are highly desirable, commanding premium prices. The demand for homes with the ‘million-dollar golf course view’ pushes up property values and consequently, the real estate taxes which fund local budgets.
Furthermore, golf plays a significant role in attracting retirees to areas like Myrtle Beach and Tidewater. With over 120 golf courses in the region, it’s a considerable draw for retirees who boost the economy with their continuous influx, purchasing properties, and spending on local goods and services.
In addition to direct benefits, golf also brings indirect economic benefits. The dollars spent on golf and associated activities get re-spent in the economy, leading to a multiplier effect. Employees of the golf courses, hotels, restaurants, and shops spend their income on local goods and services, creating a whole cycle of spending and res-spending.
A study by the South Carolina Golf Course Owners Association illuminated the extent of golf’s economic impact. In 2018, South Carolina’s golf industry contributed an overall $2.59 billion in output, including $859 million in labor income, supporting 29,884 jobs. The study affirms that the share of Coastal South Carolina, particularly regions like Tidewater, is significant within this substantial contribution.
Golf’s economic advantage stretches beyond monies and jobs, into less tangible but hugely impactful areas. The many tournaments held, including those at Tidewater, elevate the region’s profile, attract media coverage and with that, potential new residents and investors. The positive impact on the quality of life, with world-class amenities at one’s doorstep, too, is immeasurable.
The golf industry is an intricate fabric of Coastal South Carolina’s economy, with Tidewater Golf Course as one its shining threads. Its impact is manifold, bringing in direct revenues, supporting jobs, boosting associated industries, and influencing property values. The sport’s impact radiates indirectly too, enriching lives by encouraging spending, drawing retirees, enhancing life quality, and underscoring South Carolina as a globally certified golfing haven.
Coastal South Carolina, with its favorable weather and natural beauty, is poised to tee off to greater heights, leveraging golf as an economic driver. The Tidewater club, with its commitment to the sport and community, is at the forefront of this journey, embodying golf’s role in defining and shaping the region’s robust economy. In short, golf in Coastal South Carolina is much more than a pastime, it’s a significant pillar that supports the local economy and strengthens the community.