Presentation on theme: "1 Golf Development in India – Is It Ready to Happen."— Presentation transcript:
1 Golf Development in India – Is It Ready to Happen
2 Royal Calcutta is thought to be the first club established outside the British Isles back in 1829 (St. Andrews not even opened yet!) Approximately 180 recognized golf clubs across the country Estimated 100,000 members registered at these golf clubs Difficult to estimate total number of golfers because many of Indias golfers are not members In reality it is quite difficult and expensive to become a member at the top rated clubs in the country Growth levels were generally agreed to have been very slow in comparison to other countries from the 50s – 90s Golf In India at a Glance
3 Major Indicators Golf is Arriving in India Set to have 30 events nationally in 2008 (including co-sanctions) First time hosts to Asias #1 Professional Golf Event – Johnnie Walker Classic at DLF Sanctioning 2 events this year – EMAAR-MGF Indian Masters & Johnnie Walker Classic
4 Major Indicators Golf is Arriving in India DLF G.C. – Arnold Palmer & Gary Player Jaypee Greens – Greg Norman Classic Resort – Jack Nicklaus Gold Resort – Vijay Singh Under Planning & Construction (3) Jeev Milkha Singh (81) MASTERS 2008 (5) Jyoti Randhawa (95) (17) Gaurav Ghei (232) (22) Shiv Kapur (277)
5 Opening up the extensive network of Army golf courses to the public Golf is now being seen as a potential career choice for Indians and discussion has occurred about including it at the college level Regions now considering options on municipal/public style courses State governments are realizing the value of golf tourism and in some cases encouraging it. (Goa, Rajasthan, Orissa, Uttar Pradesh) Outside of major centres and high end resorts, green fees often range only from US$1 – $4 (for Indian nationals) Major developers current cash circumstances (Indian stock exchange) and land banks The NRI factor Positive Indicators That Could Influence Golf to Grow in India
6 Few if any state governments take policy decisions to zone or allot specific lands for golf so land bank requirements remain an issue. Elitist perception of the game prohibit the private sector from gaining approvals for golf developments even if lands can be accumulated. Any of the significant golfing populations are tightly restricted to the major metro areas Remittance of foreign currency to international consultants (designers / constructors / suppliers/ management groups) Existing examples of residential golf developments lack quality and export readiness Traditional red tape factor – is it changing? Existing Challenges that Prohibit Golfs Growth in India
7 Anecdotal Indicators Requests for services and presence of competitors. Change in focus and philosophy of leading property developers. IMG Academies development and students. Accommodation linked recreational interests growing. Foreign investment by Indian companies in major global companies with development interests. Renewed interest by institutional investors in Indian mixed use property market (residential/city communities). Volume of IMG Deals (Design / Management / Player Representation / Corporate Sponsorship / Events).