What's Happening?
Long Island, New York, is gearing up for the Ryder Cup 2025, a prestigious biennial golf tournament expected to inject $160 million into the local economy. The event, which will take place at the Bethpage Black Golf Course in Farmingdale, is anticipated to draw 250,000 visitors from around the globe. This influx of visitors is already causing a surge in hotel bookings and short-term rental demand. According to AirDNA, a short-term rental data provider, demand in the area has increased by 87% compared to the previous year, with revenue quadrupling. The host area, including towns such as Bay Shore, Brookhaven, and Huntington, has seen significant spikes in short-term rental activity, with Farmingdale experiencing a 607% increase in revenue. High-value properties in the vicinity are being booked at rates between $7,503 and $7,672 per night.
Why It's Important?
The Ryder Cup's economic impact on Long Island is substantial, as it not only boosts the hospitality sector but also enhances the region's visibility on a global scale. The surge in short-term rental demand and hotel bookings indicates a significant economic opportunity for local businesses. The event's ability to attract international visitors can lead to increased spending in various sectors, including dining, retail, and transportation. Additionally, the exposure from hosting such a high-profile event can have long-term benefits for tourism in the area. The Ryder Cup's unique format, pitting the United States against Europe, adds a layer of national pride and competition, further elevating its significance.
What's Next?
As the Ryder Cup approaches, local businesses and service providers are likely to ramp up preparations to accommodate the influx of visitors. The high demand for accommodations may lead to further increases in rental prices and hotel rates. Local authorities and event organizers will need to ensure that infrastructure and services are equipped to handle the large crowds. The tournament will feature top golfers from the U.S. and Europe, including Scottie Scheffler and Rory McIlroy, which could attract additional media attention and spectators. The event's success could set a precedent for future international sporting events in the region.
