Bankruptcy filings among golf ranges in Japan have surged to a record high. The increase, triggered by a combination of economic hardship and changing leisure preferences among the population, presents severe challenges to this sporting sector. The precise timeline and locations of these liquidations have not been disclosed, but the widespread impact suggests a nationwide crisis in the golf industry.
Golf has been a popular sport and business in Japan for many years, attracting a range of players from leisure seekers to business executives. However, Japan's aging population and the younger generation's shift away from traditional sports like golf are resulting in a profound demographic change that's affecting these businesses. The recent string of bankruptcies reflects these societal changes and the economic pressures they bring.
In contrast, in the US and EU, golf remains a popular sport with considerable investment and infrastructure. While they've also faced challenges due to the pandemic and changing consumer behaviors, the scale of bankruptcy in the golf sector appears more manageable. A strong focus on adapting to contemporary tastes is evident in these regions' golf industry's resilience.