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Chinese Investors Pouring Into Myrtle Beach Golf

by John on 01/19/2015

China in Myrtle Beach golf courses

Who would’ve thought supply and demand in current sea trade wars would affect your golf swing. But it might in the Myrtle Beach South Carolina area.

The Syria covers south of Myrtle Beach all the way up to the Wilmington North Carolina area. And what is happening there is very strange. About 12 golf courses have been bought by Chinese investors. Why is this happening? And will it change golf down in this area?

There are plenty of ironies here. First golf is a capitalist game yet the Chinese, formally known as the red Chinese, Have embraced golf. Check out a golf resort in China called Woodland Hills. There have been number of European tour events. It is a gorgeous resort with a number of championship style golf courses.then check out Heindon island. That is where the Chinese are building one of the biggest golf resorts in the world. There could be somewhere between 20 and 30 world-class golf venues and luxury resorts surrounding it.

Golf is also taught in China for business students.A lot of this has to do with the boom in business in Asia. Here is a photo of me hitting a golf ball in Seoul South Korea in January. Remember, soul has the same latitude as New York City. So I was hitting a golf ball in 33° weather. However I was indoors at the driving at a Marriott hotel. These driving ranges are ubiquitous in downtown Seoul. But what is it mean down here to people in Myrtle Beach South Carolina. Already we have seen the resort Sea Trail bought by a Chinese investor.

This may be just a simple rebalancing of the economic order. I’m back in the early and mid to thousands during our financial crisis capital dried up. Many of these golfers George are overpriced and overleveraged. Locals have noticed many golf courses either closing or to stay afloat offering ridiculously low golf deals. Some of these places offered a round of golf for as low as $25 that also included breakfast lunch and two beers. Clearly, there was an over abundance of golf courses down here. They over built in the 1990s in the early 2000s. You can see a lot of Forest land around here for that 10 to 20 years ago was a thriving golf course. So what are the Chinese doing? The big thing is they’re getting money out of China. The Chinese economy is slowing down. It is still moving along at a better pace than the US economy. But the Chinese need to pump a lot of money into their economy to keep it afloat. They are trying to feed and keep happy billions of people. The Chinese fear inflation and a rebellion like they saw a 1949 lead to social people and the current Communist Party but also decades of economic stagnation. Chinese and their communist country have only thrived since they’ve taken on capitalistic principles. But many investors want to get their money out of China. The question is why would China let them? The Chinese need profits brought back into the country in dollars. Also saving rates in China are very low. So the elites, members of the Communist Party, are the ones who can start businesses and invest overseas. Will this change and golf in the Myrtle Beach area? Probably not.

Is there a chance we can see what happened to the Japanese in the 1980s? Japanese bought up a lot of US golf courses, including Pebble Beach, and then went broke. I don’t see the Chinese going bro. If anything, the Chinese will continue to prime the pump of their economy. That will force them to continue appearing wealthy while at the same time devaluing their currency. The other question is political. What effect will this have on people, especially Southerners who are very patriotic Americans, and will they attend for use Chinese own golf courses? The answer is they probably won’t even know their own by the Chinese. There was one story hear that the corsets the trailhead raised a Chinese flag along with the US in North Carolina flags. But that caused quite a stir among the population in the Sunset Beach area.

To get even more in-depth information on this you should read the great rebalancing by Michael Pettis. He also has a blog about China Chinese economy. He’s very good and very in depth.

3 groups

Sun news online

Tip of the iceberg

Wait and see

Underwater

Golf margins low

Good way to go out

Who will run? Let folks go.

Chinese move slower and more cautiously. Plans are in the works but it will be years away Looking for good investment in the land deals since land prices have dropped dramatically over the past 10 years.


 

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