NEW YORK (CNN/Money) - Michelle Wie has the potential to leave Tiger Woods in the dust -- in economic impact on the sport, if not on the golf course itself.

The 14-year old Hawaiian golf prodigy is set to compete in what is already her second U.S. Women's Open starting July 1, and she is already being projected as the first woman player who could be competitive on the men's Professional Golf Association tour.

When she played against the men in one's PGA tournament, January's Sony Open, Wie shot even par over two rounds and came within one stroke of being among the leaders to reach Saturday's play. She's already regularly driving the ball 300 yards, which is longer than many men on tour.

"In the Sony Open, you would have thought she was the only player. The cameras were on her start to finish," said Susan Reed, editor of Golf For Women. "She brings eyeballs and fans and interest to events in significant numbers. That's what sponsors are interested in."

Wie is not the first woman to compete in a PGA event – in fact she was the third in just over nine months. But she is the only woman player who has stated that competing in the PGA on a regular basis is her long-term goal. And plenty of fans think she's well positioned not just to play with men, but to beat them some day.

Of course, there are plenty of detractors who don't think she or any woman player has a chance to win on the PGA. But frankly, it doesn't matter whether she becomes one of the top golfers on the PGA or simply becomes the most popular player in the Ladies Professional Golf Association.

14-year old Michelle Wie already has golf equipment makers eager to sign her.

She's become the type of media sensation that few in sports ever become. That positions her to have an even greater economic impact on golf than any other player -- including Woods.

Only about 25 percent of golfers currently are women, according to market research of the Sporting Goods Manufacturers Association. A positive example like Wie could push that number up.

"If there's a growth opportunity in golf, it rests primarily on the women's side of the game," said Ty Votaw, the LPGA commissioner. A charismatic prodigy like Wie "will ultimately have an impact on future participation rates among young women."

Plenty of men were already golf-obsessed when Woods emerged. So despite the attention and TV ratings that came along with it, Tiger-mania has not had an overwhelming impact on golf participation rates.

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The Sporting Goods Manufacturers Association survey shows about a 10 percent drop in the number of U.S. golfers, down to 27.3 million last year from his high point of 30.4 million golfers in 2000. And much of the air has come out of the Tiger-bubble -- that drop has cancelled out about half the 6.3 million golfers added to the sport in the first two years after Tiger turned pro.

People in the industry say that women generally spend less money on golf equipment than men today. So getting a relatively slightly better participation among women, or getting women golfers excited enough about the sport to spend a bit more has large upside potential.

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That's one of the reasons why companies like Nike (NKE: Research, Estimates) are already tracking Wie whenever she plays or makes a public appearance. No golf equipment maker wants to miss out on this entree into such an underdeveloped market as women's golfers.

"I'd be surprised if we're alone in keeping our eyes on her as she progresses," said Dean Stoyer, spokesman for Nike Golf. "Michelle Wie is not your typical junior golfer. If you have an established women's business, or you're looking to establish a women's business, she'd be a great cornerstone."

Of course, there is a risk to sponsors if Wie does compete unsuccessfully on the PGA tour: a backlash

But many industry observers doubt that Wie would keep trying to get in PGA events if she's having that kind of difficulty.

"You have to have faith in the marketplace," said Votaw. "If she can make $500,000 and finish 125th on money list in the PGA, or make $3 million for finishing in the top two or three on the LPGA, I think the market will dictate she plays more on LPGA."

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Experts in the endorsement field said they doubt that her value to advertisers would be diminished if she tries the PGA but isn't successful.

"The more successful she is on the men's tour, the more attention she'll get," said Gregg Hamburger, a managing director The Marketing Arm, an entertainment and sports consultant. "But her not succeeding there will not hamper her endorsement potential."