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An Investigation of Key Market Growth Factors that Influence the “Luxurisation” of Golf Industry in China

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Listed:
  • Congshan Zhang

    (Central University of Finance and Economics, Beijing, China)

  • Maktoba Omar

    (Edinburgh Napier University, United Kingdom.)

  • Nathalia C. Tjandra

    (Edinburgh Napier University, United Kingdom)

Abstract

This study aims to investigate the key market growth factors for golf development in China as a luxury product. After nearly 30 years of development, China now has the largest golf complex in the world and in recent years the market is growing at its fastest pace. Due to rapid economic growth and the emergence of a large number of wealthy people, it has been argued that the consumption of luxury will increase. However, little research has been carried out to answer the question why a foreign game could develop so robustly, and the key factors that have contributed to its growth in relation to its unique features. Both questionnaire and in-depth interviews were adopted in the study. Valid questionnaire responses were collected from 213 golf managers in China. The results were supported by evidence from interviews with 5 experienced golf course managers who have worked in several golf courses around China. It is found that that the economic and cultural factors are the key market growth factors for the development of golf as a luxury product in China. The findings also discuss how political, economic, cultural, technological, geographic and environmental factors are influencing current and future golf development. This paper will help practitioners to understand their external business environment and implement innovative strategies.

Suggested Citation

  • Congshan Zhang & Maktoba Omar & Nathalia C. Tjandra, 2016. "An Investigation of Key Market Growth Factors that Influence the “Luxurisation” of Golf Industry in China," Journal of Business, LAR Center Press, vol. 1(1), pages 21-28, March.
    • Handle: RePEc:lrc:larjob:v:1:y:2016:i:1:p:21-28
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    References listed on IDEAS

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    1. Iain Davies & Zoe Lee & Ine Ahonkhai, 2012. "Do Consumers Care About Ethical-Luxury?," Journal of Business Ethics, Springer, vol. 106(1), pages 37-51, March.
    2. Achabou, Mohamed Akli & Dekhili, Sihem, 2013. "Luxury and sustainable development: Is there a match?," Journal of Business Research, Elsevier, vol. 66(10), pages 1896-1903.
    3. Alan Shipman, 2004. "Lauding the Leisure Class: Symbolic Content and Conspicuous Consumption," Review of Social Economy, Taylor & Francis Journals, vol. 62(3), pages 277-289.
    4. Shukla, Paurav, 2011. "Impact of interpersonal influences, brand origin and brand image on luxury purchase intentions: Measuring interfunctional interactions and a cross-national comparison," Journal of World Business, Elsevier, vol. 46(2), pages 242-252, April.
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    Cited by:

    1. Yuanyuan Hao & Mengyuan Kong, 2022. "Economic effect of the golf simulation industry in Korea: an analysis based on the SVAR model," Palgrave Communications, Palgrave Macmillan, vol. 9(1), pages 1-11, December.

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    More about this item

    Keywords

    Golf industry; China; Luxury product; Market growth factors.;
    All these keywords.

    JEL classification:

    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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