There’s little doubt that golf has its own specific challenges, but it is affected by people cutting back on their spending due to the overall economy, which last hit a significant rough patch back in recession of 2008-2009.
Most analysts believe that Canada didn’t get hit as hard as other countries, but since then, the national unemployment rate has remained stubbornly high, especially among young people, and incomes among self-employed people seem unstable.
There’s concern about household debt and predictions of a housing bubble about to burst range anywhere from 40 to 50 per cent to a “soft landing” to denial that there is an imminent housing crisis. You can read more in this story from CBC. That possibility may cause people to hold back on their spending since real estate is often used as an investment.
On the other hand, Prime Minister Stephen Harper recently announced that the federal deficit in the year ending March 31 was dramatically lower than expected and indicated in this story in the National Post that tax cuts could be on their way.
That’s something, but it remains to be seen if it will have any positive effect on an industry such as golf, which relies so heavily on disposable income that, along with time, is a precious commodity these days.
Before you say it, this isn’t another negative outlook story on the economy. As a matter of fact, it isn’t any type of prediction at all, but we are curious to see how business has improved at the golf operation where you work since the recession of 2008-2009.
You can vote below or on the GNN home page and if you’d like to expand your thoughts on this subject, please feel free to use the Comments section below.
How would you describe the improvement in business at the golf operation where you work since the recession of 2008-2009?
- It’s even worse than back then (42%)
- No improvement (37%)
- Marginally better (16%)
- Significantly better (5%)