The golf industry in the United States is experiencing a remarkable expansion, as highlighted by recent research from the National Golf Foundation. In 2023, a staggering 45 million Americans aged six and older have taken up the sport. This figure includes 26.6 million individuals who play on traditional golf courses and 18.4 million who engage in off-course venues such as golf simulators and entertainment centers like Topgolf. Over the past decade, the growth of new golfers has been impressive, with nearly 2 million newcomers joining the ranks each year. The year 2023 is projected to welcome 3.4 million first-time players alone.

Young adults, particularly those aged 18 to 34, remain the largest consumer demographic within the sport, with 6.3 million participating on the course and 5.8 million off-course. The surge in junior golfers has also been noteworthy, with participation increasing by 40% since 2019, now totaling 3.5 million young players, 37% of whom are girls. Furthermore, female golfers have become a significant part of the golfing community, with their numbers rising to 7 million, comprising 26% of on-course golfers. The total number of rounds played in 2023 has reached an impressive record of 531 million, surpassing the pre-pandemic average by over 10%.

The United States boasts a diverse golfing landscape, with 16,000 courses scattered across 14,000 facilities, of which 75% are open to the public. Despite a 12% decrease in the number of golf courses since 2006, public interest remains strong, with 22.4 million individuals expressing a desire to play.

The golf industry is undergoing significant evolution, driven by increased female participation, a growing focus on social play, personalized lessons, and the rise of online booking systems. According to a report by NBC Sports Next, female golfer engagement has surged by 15%, resulting in an additional 800,000 women joining the sport between 2020 and 2022. In contrast, male participation has only increased by 2%. Women now represent one-third of junior players and 49% of those surveyed about their golfing experiences.

Golf continues to be a highly social sport, with 49% of surveyed golfers stating that they primarily play with friends. The trend of business-related golf is also rising, particularly among users of GolfNow. Notably, while 36% of golfers took lessons in the past year, this number climbed to 67% among GolfNow customers, indicating a preference for a combination of on-course and facility-based training. Furthermore, younger golfers are increasingly utilizing online platforms to book their tee times, with 43% of those aged 18 to 34 reserving at least one round in 2023. The importance of speed and convenience in the booking process is underscored by the fact that 55% of golfers cited online reservation as the quickest option available.

In addition to the participation numbers, the investment landscape in golf is also noteworthy. Publicly traded golf stocks encompass a range of companies involved in the golf industry, from those manufacturing equipment to operators of golf courses. This presents investors with opportunities to engage in this lucrative market.

Recently, analysts published a list of the 10 Best Golf Stocks to Buy, with a particular focus on VICI Properties Inc. (NYSE:VICI) and its performance within this sector. VICI Properties is a real estate investment trust that boasts one of the largest portfolios of premier gaming, hospitality, and entertainment destinations, including four championship golf courses and 33 acres of undeveloped land adjacent to the iconic Las Vegas Strip. The company employs a net lease model, which allows tenants to bear the majority of property-related costs, mitigating financial risks for VICI while providing tenants with operational control over essential business assets.

In its latest Q4 2024 earnings report, VICI Properties reported revenues of $976 million, representing a 4.7% increase from the previous year. However, earnings per share saw a decline of 19.2% to $0.58, and net income available to common stockholders fell by 17.8% to $614.6 million, primarily due to changes in the Current Expected Credit Loss (CECL) allowance for the quarter ending December 31, 2024. VICI also announced a new partnership with Indigenous Gaming Partners, following their acquisition of operational assets from PURE Canadian Gaming, which included an amendment to the existing master lease for the relevant properties.

Ultimately, VICI ranks 10th on the list of the best golf stocks to buy according to analysts. While the potential for growth in golf-related companies is recognized, it is important to note that analysts believe AI stocks may offer even greater opportunities for returns in the near future. One particular AI stock has shown promise this year, even as many popular AI stocks have witnessed a decline of around 25%.

The future of golf is not just about traditional play; innovation is shaping the industry's landscape. The TGL, a new golf league set to commence its matches in January 2025, is pioneering a hybrid golf experience that fuses digital and physical elements. Teams of golfers will compete in a specially designed venue featuring custom-made holes, starting with a large-screen simulator that replicates real terrain before transitioning to a transformable green. Innovations in broadcasting are aimed at enhancing the at-home viewer experience, making the sport more accessible to a broader audience.

The PGA Merchandise Show, held in Orlando in 2025, showcased the robust momentum within the golf industry. Marc Simon, Vice President of PGA Golf Exhibitions, remarked on the exhibition's significance, stating, "The show is a reflection of the industry, and golf is thriving right now. With the surging popularity of golf, we saw the largest number of exhibitors and largest occupied space since 2009, which is encouraging to see." This year's exhibition featured over 1,000 exhibitors spread across an impressive 1.1 million square feet, signaling the ongoing growth in the $102 billion golf industry. More than 1,200 VIP buyers from 770 golf courses and mass merchandisers attended, collectively representing a purchasing power of $810 million and a potential retail sales impact of around $2 billion. The focus of the event has expanded beyond traditional golf equipment and gear to incorporate fitness, health, wellness, and even related sports like racquet sports and club facilities. The Clubhouse exhibition area was notably enlarged, reflecting the trend in golf facilities towards enhancing member experiences.

Technological advancements were also a prominent theme, with the introduction of AI-powered golf simulators, advanced ball-flight data analytics, and next-generation golf carts catering to the increasing number of personal cart owners. The trends in golf are evolving, with a record number of influencers participating in the show and a notable increase in apparel sales driven by the preferences of Gen Z consumers. The PGA Show's transformation aligns with the broader trends in the industry, which prioritize experiential marketing and innovation. Looking towards the future, organizers are committed to adapting to the changing needs of the business in order to ensure sustained growth and success within the golf industry.

In conclusion, as the golf industry continues to flourish, driven by increased participation and innovative approaches, both newcomers and seasoned players can look forward to an exciting future filled with opportunities.