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The growth in the golf economy since 1987 can be attributed to a number of factors. These include growth in the number and diversity of players, the increasing importance of golf real estate, expansion of the golf tourism industry, and one of the longest economic expansions in our nation's history (1992-2000).
Golf course facilities - where golfers play the game, take lessons, play in tournaments, and relax with a sandwich and refreshment afterwards - represent the largest and most central component of the golf economy. Golf facilities in the United States produced $20.5 billion of goods and services for golfers and the general public in 2000 (see table below)...
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