Asian golf industry hit hard by regional crisis

Asian golf industry hit hard by regional crisis

SINGAPORE (AFP): An Asian golf trade fair opened here
yesterday amid gloom in the industry after the region's economic
slowdown put course construction projects on hold, affecting a
wide range of related businesses.

With South Korea and parts of Southeast Asia in recession and
Japan struggling to swing its way out of an economic sand trap,
sales of course designers, contractors and equipment suppliers
have slumped along with club memberships.

"The boom years of golf are finished forever in Asia," Mark
Vlassopulos, director of Gary Player Management Services, told
AFP at Golf Asia '98, an exhibition for service and equipment
suppliers which runs till the weekend.