Surfing waves of change. Cha-ching!
You still think surfing is about riding waves in the ocean?
Surf parks make surfing profitable
Surfing is undergoing a massive transformation. While the value of the global surf market has declined by over 50% since 2019, the number of surfers has grown:
Global surfing population grew 28% between 2019 and 2020 (Covid-19…)
U.S. surfing population grew 25% in the last 4 years
This shift signals the emergence of a new surfing market that includes a growing number of new surfers and the rise of surf parks.
New surfers make up 35-45% of all surfers (“new” means <4 years of experience)
Surf parks are estimated to double to 80 worldwide in the next 5 years
Inland surfing at surf parks greatly expands the accessibility of surfing and redefines what it means to be a surfer. It is also proving to be a lucrative business. These surf parks, which range from $50 million to $1 billion investments, are showing profitable returns and are set to drive future market growth.
Is this what we want?
Despite these positive trends, it’s shocking how unpopular surfing is today compared to 30+ years ago. But 10 years ago the decline plateaued. In the past 5 it started to reverse and this year during the 2024 Olympics surfing went viral.
In a previous post I answer the question “why the sudden change?”
It comes down to a new culture forming that redefines what it means to be a surfer. Surf park CEOs are capitalizing on this and accelerating it. People of all ages, all ethnic backgrounds, and with all types of bodies get to ride waves in these commercial settings.
Core surfers often express a desire for surfing to return to a less commercialized state. Meanwhile, there is such a privilege in being financially rewarded for doing what you love and what you are good at. That’s something that few people would pass up if given the chance.
We’d like to see the commercialization of the sport help to increase the quality of life of surfers and people who live in surfing hubs worldwide. This is possible if the industry is rebuilt on foundations of equity, collaboration, and mutual aid. The evolving culture of surfing gives us hope that this vision can become a reality. Surfing is less about localism and more about shared joy. Sharing the stoke.
To stay updated on the latest trends and insights in the surf industry, check out Surf Park DB, a free database of surf park insights all in one place.