By Adrian Flores
When the COVID-19 pandemic forced the Philippine government to stop operations in sports, stakeholders in the golfing industry expected their shares to slip to all-time levels.
The scene before the worldwide halt was already gloomy in terms of price per share. The global pandemic, it seemed, worsened the situation.
On the contrary, the opposite happened. Instead, golf flourished over the past one and a half years. Athletes shifted their focus and the non-believers, who completely see golf as a rich man’s activity, made a huge turnaround and got hooked on the sport.
“People had nothing to do during the lockdown. Golf, because it was partially open, offered an alternative to de-stress and unwind. The golf industry is thriving as more people take up the sport,” said Sarah S. Medina, president and CEO of leading trading company G&W Clubshares Inc.
Medina noted that share prices of top tier clubs Manila Golf Club have breached the P125-million mark (up from around P83M pre-pandemic) while Wack Wack Golf and Country Club is at P55 million from P40 million plus.
Also gaining ground are Alabang Country Club at P12.5 million, Sta. Elena at P8-9 million, Manila Southwoods at P3-3.5 million, Valley Golf Club at P2.5 million and Canlubang at P2-3 million.
“These figures, I think, will shoot up until the end of the year as the demand remains high,” she said.