UAE golf may be in for a Brit pounding

So hands up if you’ve had about enough of terms like “credit crunch”, “recession” and “bear market”.

I’m sure financial institutions and politicians employ people to come up with the latest in depressingly funky jargons. I’ve come to the conclusion that 99 per cent of the human race are either manic depressives or we all just enjoy a nice dose of bad news from time to time.

Anyway, having said all that, unfortunately I have my own dose of bad news. The Brits among you will no doubt have been keeping your eye on the astonishing slide in value of the pound against the dollar. It’s remarkable to think that at the time of writing this article the pound has lost 25 per cent of its value against the dollar in just two months.

Fantastic you might think – just how long have we been getting the raw end of the deal when visiting the UK over the past three to four years.

Before you start to think what on earth is Julian talking about – what about golf – let me flip the issue on its head by asking what the effect will be for UK visitors to Dubai?
Answer: “A damn expensive holiday and quite possibly a ruining effect on the golf and tourism industry here in the UAE”.

Dominant force

UK golfers have, for some time now, been the dominant overseas market segment for UAE golf clubs.

Over recent years, with UK tourists able to exchange between Dh6.75 and Dh7.50 to the pound, Dubai suddenly became affordable for many middle-income families. UK tourists are avid sun seekers and you only need to look at the sums that Emirates airline spends on sponsorship and advertising in the UK to understand the importance of this market to the Dubai economy.

Expensive hobby

All golf courses in the UAE are now in their fourth week of published winter rates, many of them between 10 and 25 per cent higher than last winter due to inflation. Coupled with the latest exchange rate it means the price of golf her for UK tourists has nearly doubled.

The Majlis course will now cost a tourist £180 a round – £45 more expensive than the Old Course at St Andrews. In fact there isn’t one golf course under £100 per round in the whole of Dubai.

Who would have thought the impact on the pound would be so severe? Will prices be readdressed? Perhaps they will.

As the real estate market grinds to a halt and cash becomes more and more of a rare commodity, will UAE residents have the money to treat themselves to a round of golf?

We all know that we’re in uncertain times and we all hope that the light will soon be seen at the end of the tunnel. One thing is for sure, the wise cat will always get the cream – meaning those that react quickest will most certainly ride the smoothest waves.

While you are all keeping an eye on the exchange rates, don’t forget to keep an eye on the green fees – you might be able to pick up some deals in the not-so-distant future!