Mark Nance: More diversity in golf means more diversity in business

Golf is more popular today than ever before. More than 45 million people played golf in the United States in 2023, which is roughly 1 out of every 7 Americans, up from 41.1 million in 2022. It’s no wonder why. From being the perfect socially distanced outdoor hobby during the pandemic to the myriad of new ways to play at facilities like TopGolf, Back9 and Five Iron Golf, there are more entryways into the sport than ever.

You also can’t argue with the sport’s economic impact. In 2022, golf’s direct economic impact on the country was $101.7 billion—and $1 billion in Indiana alone. Those are impressive numbers. But what if they were higher?

As millions of new golfers get into the game each year, it stands to reason that the economic impact of golf will grow, as well. However, organic growth goes only so far. It’s important we continue to actively introduce the sport to new generations and new demographics. The single best way to do this is through diversity, equity and inclusion efforts.

Golf has traditionally been dominated by players who are male and white, but we have an opportunity to increase diversity within the sport and boost its economic impact here in central Indiana. The great news is, DEI efforts shouldn’t be a hard sell.

How many sports can you play for your whole life where nearly everyone is on a level playing field? You don’t have to be tall or strong or fast to play golf. You can just play! The National Golf Foundation shared that young adults (18-34) make up the sport’s biggest customer age segment, with 6.3 million participants. More than 3.5 million junior golfers played on a golf course last year, and these younger generations are growing more diverse. More than one-third of junior golfers are girls, and roughly one-quarter are non-Caucasian. These are significant increases from 2000, when girls made up just 15% of juniors, and minority participants were just 6%.

But it’s never too late to take up the game. Conducting outreach to people of color at all ages will continue to grow the game and further economic momentum with every new player.

Golf is also more accessible now than ever. The recent opening of off-course venues like Five Iron, Top Golf and Back 9 have lowered the barrier to entry for many Hoosiers to try out the sport. And playing at these venues doesn’t require an upfront investment in clubs and golf balls.

These venues position our industry to introduce the sport to a whole new demographic of players who might not have been exposed to it otherwise.

Golf also grows business. It’s no secret that golf builds business connections unlike anything else. Networking events, conferences and happy hours can be awkward and rushed. Taking your time over a round of golf, however, gives people the opportunity to learn more about one another than in an elevator pitch.

As more diverse individuals pick up the game, there are more opportunities for them to make connections with business professionals who have been considered the traditional golf demographic. This can result in business opportunities for new golfers and more diverse teams for companies who conduct business while hitting the links. And this isn’t just anecdotal.

The World Economic Forum cites a study that found “companies with more diverse management teams have 19% higher revenues due to innovation.” Research by Forbes found that inclusive teams made “better business decisions up to 87% of the time,” made “decisions two times faster with half the meetings,” and “delivered 60% better results.”

Indiana’s golf industry is on a roll and has a proven economic impact. By introducing more people of varying backgrounds to the sport, we’re only pressing the golf cart’s pedal to the metal to accelerate that momentum.•

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Nance is the store manager of PXG in Indianapolis and a PGA member who helped establish what is today known as the PGA WORKS Collegiate Championship, which hosts student-athletes enrolled in historically black colleges and universities, Hispanic-serving institutions and other minority-serving educational institutions.