November 2013
| Business World Magazine | 181
ing how many business deals have been
secured by virtue of a handshake on the
course of through a lost putt ... but what
we can report, based on a 2011 economic
impact study of the industry in the United
States, if you combine the total employ-
ment, as well as food and beverage opera-
tions, the annual economic impact is just
shy of seventy billion dollars.” That val-
ue, adds Apel, puts golf ahead of the spec-
tator sports and performing arts industries
combined. However, Apel says there are
yet other “more impressive” values to
be realized with respect to the extent of
charitable giving generated from golf.
“When considering how much money is
contributed to charities through the play-
ing of golf tournaments, not taking into
account all that players individually do-
nate, but just through tournaments alone,
it equates to more than four billion dollars
... no other sport comes close to touching
that generosity,” says Apel.
Apel says that philanthropic distinc-
tion is a byproduct of the distinct nature
of the sport, its players and its fans. “Golf
is the only sport to adhere to a universal
set of rules and ethics. You have to track
your own score and call your own foul.
It is the only sport that does that, and in
turn, it attracts honest, disciplined and
ethical people. Golfers have a commonal-
ity; there is athleticism, skills and talent,
but there are also values of honesty and
integrity, they’re good at heart and will-
ing to contribute ... there’s simply a dif-
