MZers drive Korea's indoor golf facility pandemic boom

Indoor golf facilities’ revenue in South Korea has skyrocketed amid the pandemic, thanks to millennials and Generation Zers' soaring consumption, according to KB Kookmin Card’s golf industry analysis report released on Nov. 21.

Revenue from the country’s golf market, including indoor and outdoor golf driving ranges, golf simulation centers, golf courses and golf items on shopping websites, increased 68% in the third quarter of this year from a year ago.

Revenue also rose 51% and 24% in the third quarter of 2021 and 2020, respectively, compared with the previous year, the card company said based on its transaction data on personal credit and debit cards.

The January-September revenue from indoor golf driving ranges soared 395%, compared with the same period in 2019. Golf simulation centers, golf courses and outdoor golf driving ranges respectively showed 102%, 62% and 61% increases during the same period.

Young golfers drove the rapid growth in indoor driving ranges’ revenue. In the first nine months of this year, the indoor facilities' revenue skyrocketed 1101% and 811% from the transaction by card users in their 20s and 30s, compared with the same period in 2021.

Revenue increased 502%, 257% and 179%, respectively, based on the transactions of card users in their 40s, 50s and 60s and older during the same period.

Young golfers also expanded their consumption of golf simulation centers.

By age group, the centers’ revenue soared 862% and 232% in terms of transactions by card users in their 20s and 30s, respectively. Revenue showed relatively slow growth in transactions by older users -- 107% in their 40s, 61% in their 50s and 36% in their 60s and older.

The outdoor driving ranges’ revenue soared 251% and 214% from purchases by users in their 20s and 30s, respectively.

Write to Jin-Woo Park at jwp@hankyung.com
Jihyun Kim edited this article.