Or perhaps a different question, at what point does it start to make an impact, especially when talking about private clubs that would not want Joe Sixpack within a hundred miles of the place.
At the top end in the US I am sure it is financially irrelevant, and so more of a pride thing, but elsewhere in the world it does have an impact as the economics of golf clubs are different.
I am not sure, but I suspect that lifting a few notches does make a difference to visitors fees, trade day fees and perhaps adds some support beneath the nomination and annual fees in these troubled times. So perhaps it doesn't mean you can charge more, but it may mean you don't have to charge less when times are tough.
My track nudged back up into the national top 10 a few years back, and that does make a difference to its perception and that translates into dollars. Nudging up into the top 50 however does not have the same impact.