XGOLF, Analysis of Green Fees in January Over the Past 5 Years
This Month Weekday Fees Down 6.5%, Weekend Fees Down 2% Compared to Last Year
Green fees at golf courses, which had been rapidly rising since the COVID-19 pandemic, have shown a downward trend this year.
Golf booking platform XGOLF announced on the 4th that, after analyzing the green fee trends for January over the past five years, green fees have turned downward for the first time this year since the pandemic began.
According to data analyzed by XGOLF based on fees listed on the websites of golf courses nationwide, the average green fee in January 2020, before the full onset of COVID-19, was 76,000 KRW on weekdays and 96,000 KRW on weekends. As the golf industry boomed, the average green fee in January last year rose to 122,000 KRW on weekdays and 149,000 KRW on weekends. This represents an increase of 61.2% on weekdays and 54.2% on weekends over two years compared to 2020.
After continuously rising every year, green fees appear to be easing starting in 2023. The average green fee in January this year was 114,000 KRW on weekdays and 146,000 KRW on weekends, marking a decrease of 6.5% on weekdays and 2% on weekends compared to the previous year. An XGOLF official attributed the decline in green fees to concerns over a shrinking golf population due to the economic downturn and the implementation of the "Notice on the Designation of Public Golf Courses" that took effect on the 30th of last month.
However, regions such as Gangwon-do and Jeolla-do saw slight increases of less than 5%. An XGOLF official stated, "With the revised classification system for public golf courses being fully implemented this year, we are continuously monitoring the changes in green fees at golf courses nationwide," adding, "We aim to lower the entry barriers to golf and foster a culture where golf becomes a leisure activity for everyone through transparent disclosure of golf course usage fees."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
