Arnold Palmer issued a rallying call at the sixth annual KPMG Golf Business Forum at The Celtic Manor Resort in Wales, stating that golf businesses will be “stronger” after the recession.
Palmer, who received KPMG’s Lifetime Achievement Award at The Celtic Manor Resort, addressed the audience of international golf business leaders, investors and developers on the economic situation.
“I was born during the Great Depression and I’ve lived through economic recessions,” said the seven-time Major winner. “We will come out of this one having learned from the experience – and we’ll be stronger.” More than 275 industry professionals attended the three-day conference, established as the leading international event for the golf resort and community industry, this year focusing on the theme of ‘Navigating the Choppy Waters of the Economic Downturn.’ Andrea Sartori, head of KPMG’s Golf Advisory Practice in EMA (Europe, Middle East and Africa), said: “We remain optimistic about the prospects for the golf business in the medium term and we believe that there are enormous opportunities for development in emerging markets such as China, India, Eastern Europe and South America, once we see a clear upswing in the economic cycle.” Palmer also voiced his opinions on why golf becoming an Olympic sport would benefit the industry worldwide, adding: “I am very much in favour of golf becoming an Olympic sport. I don’t think we can comprehend what it would mean to the game.”
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