Friday, 24th April 2009
Decline in Japan's golf membership prices ends
A halt in the decline of golf club memberships in Japan has been proposed as a potential indicator that an economic recovery is on the way.
According to Bloomberg, Nikkei English News has reported a rise in the average membership for mid-April.
It represents the first time in nearly two years that a rise has been seen, with the typical price up 20,000 yen (£141) compared to earlier in the month, now standing at 1.64 million yen.
Golf course membership broker Juchi Gold supplied the data and the Nikkei explained that equity analysts monitor the trends because they tend to correlate with stock market activity, Bloomberg noted.
The most inexpensive 18-hole golf course in the country is the New Gainsborough in Fukushima, where the self-play fee is 5,500 yen, Golf in Japan reports.
Second on the list is the Fujioka Onsen in Gunma, which also charges 5,500 yen.
Written by Andy Mackay