Michael -
I am just back from 4 weeks in Dornoch. If what I saw there any indication of the bigger picture (and I suspect it is), I expect golf tourism in GB&I will take a MAJOR hit this year. It would not surprise me if visitor green fee revenues at the various high-end clubs & daily fee courses/resorts decline anywhere from 20% to 40% from where they were a year or two ago. The lesser and more local courses, that do not get as much green fee revenue from visiting Americans, will likely not take as big a hit.
There will likely be many more package deals like this one and two-for-one coupons available as the summer progresses. The global economic slump is for real and golf is not immune from it.
DT