While China might be considered to be the 'Johnny-come-lately' in world golf, development over a generation has been nothing short of astronomical, and, as the saying goes, 'You ain't seen nothin' yet'.
If golf business experts are to be believed - and in such matters they have been proved largely correct so far - the tip of the Sino-golf iceberg has barely been revealed with one golf business analyst even suggesting China may overtake the United States' golf economy within a decade.
'The US golfing sector is in decline, a combination of over-capacity and the economic backdrop, shrinking by over 6 per cent per annum,' says Colin Hegarty, president of the Golf Research Group. 'Meanwhile, China continues to enjoy double-digit growth.'
Golf remains the fastest growing sport in the world's fastest growing economy and golf superstar-turned-entrepreneur Greg Norman, commenting recently on a business trip to Shanghai, observed: 'China is the only country which has 100 per cent growth in golf - it is like no other country on earth.'
According to the World Wealth Report published by Merrill Lynch, China boasts over 500,000 US dollar millionaires and approaching 100 billionaires, and golf, like luxury watches and sports cars, is a symbol of newfound wealth.
Which is just as well, with annual membership fees at exclusive private clubs running between 200,000 and 500,000 yuan - up to 10 times the average white-collar annual salary and 100 times a rural wage.
