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WhatAccording to Global Wellness Institute’s (GWI) new research report, the global wellness industry grew from $3.7 trillion in 2015 to $4.2 trillion in 2017. The top wellness markets for growth were the spa industry (9.8 percent), followed by wellness tourism (6.5 percent).
Why It MattersIn 2015, wellness tourism was a $563.2 billion industry. In 2017, it was valued at $639.4 billion. According to GWI, this rate of growth is more than double the growth rate for tourism overall (3.2 percent). GWI projects wellness travel to reach $919.4 billion in 2022. It’s safe to say that if you’re not selling wellness, you’re missing out.
Fast Facts- According to GWI, world travelers made 830 million wellness trips in 2017, 139 million more than in 2015.- Asia is the No. 1 gainer in wellness tourism trips and revenues, with a 33 percent growth in the last two years (258 million trips annually). - Growth in wellness tourism is concentrated in developing markets, which account for 57 percent of the increase in wellness trips since 2015.- The spa economy has grown to a $118.8 billion market. The spa industry’s revenue leader is the hotel/resort spa category as of 2015-2017.- Personal Care, Beauty, & Anti-Aging continues to have the highest market size ($1,082.9 billion as of 2017), followed by Healthy Eating, Nutrition, & Weight Loss ($702.1 billion) and Wellness Tourism ($639.4 billion).
What They Are Saying“In the face of longer lifespans, and rising chronic disease, stress and unhappiness, we only see growth for wellness ahead,” said Ophelia Yeung, senior research fellow for GWI. “But the wellness market isn’t just growing, it’s extremely dynamic. We believe that the three sectors that represent the core spheres of life will see the strongest future growth – wellness real estate, workplace wellness and wellness tourism – while other sectors will also grow as they support the integration of wellness into all aspects of daily life. And wellness markets will become less siloed and more interconnected, converging to offer solutions and experiences in the places where people live, work and travel.”
The DetailsGlobal Wellness Institutewww.globalwellnessinstitute.org