GOLF GENERATES €53BN FOR EMEA ECONOMIES

The game of golf is an enterprise now worth more than €50billion a year in Europe, the Middle East and Africa (EMEA), according to a study from KPMG Golf Advisory Practice, launched at The Ryder Cup yesterday. Although golf in the EMEA region is about one-third the size of the US industry, it is growing fast, especially in golf tourism and real estate. According to KPMG’s research, these key sectors now account for almost half of the game’s total revenue. Real estate is the number-one money earner, bringing in almost €19billion, which outstrips the total cash generated on-course from green … Continue reading GOLF GENERATES €53BN FOR EMEA ECONOMIES

OVER 12M RUSSIAN TOURISTS HEAD ABROAD IN 2008

Some 12,164,000 Russian tourists have travelled or booked to head abroad this year, with China (2.58m), Turkey (1.91m), Egypt (1.73m) and Finland (1.23m) the most visited destinations, according to the country’s largest insurance body Rosgosstrakh, which insures over 80% of all properties in Russia. Compiled by the Rosgosstrakh Centre of Strategic Studies, using Ministry of Tourism data, its own client information and various surveys, it released the figures last week providing a breakdown of the most popular overseas destinations visited by Russians in order of numbers visited and its forecast for growth over the next two years. Singapore, which only … Continue reading OVER 12M RUSSIAN TOURISTS HEAD ABROAD IN 2008