‘The amount it will cost to play golf is about to soar‘
A financial services provider has said the cost of golf is likely to soar over the course of the next generation, even though many venues have slashed green fees and only given modest rises to annual subscriptions in the last few years.
Friends Life polled 2,000 adults aged 35 to 44 and examined trends in the cost of golf over the last decade.
It concluded that the average Brit who treats golf as a hobby pays £918 per year on the sport.
This will almost exactly double in 28 years to £1,834 if inflation in the UK is two percent per year, every year until 2042.
“The cost of golf is expected to far outstrip inflation,” said Colin Williams, managing director of Corporate Benefits, Friends Life.
“As a nation we expect to spend far more time on our hobbies in retirement yet research shows this may not be affordable by the time we get there due to costs soaring far above inflation.
“The estimated cost of golf is calculated using an annual percentage increase tracked against prices over the past decade and extrapolated at that annual percentage increase from the 2014 price for the 28 years to 2042. Annual inflation of two percent was assumed.”