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News Article

Forecasts for wellness tourism growth released

Global market could exceed US$1000 billion by 2025

The global wellness tourism market was valued by the Global Wellness Institute in 2017 as around US$639 billion, in data released at WTM London last November. Now Hexa Research has released a Market Research Report suggesting that the market will reach US$1,062.83 billion by 2025. Increasing willingness to adopt wellness lifestyles coupled with rising affordability of flights and travel options and growing interest in empirical travels will augment the market growth, says Hexa. It is suggested also suggested that market growth will be fuelled by consumers desire to enhance both mental and physical wellbeing, and by hectic lifestyles characterized by work-related stress.

The report says that while medical tourism is travel to treat a diagnosed medical condition, wellness is more about preventing disease and improving quality of life by emphasizing a healthy lifestyle. The increasing presence of sedentary workstyles coupled with lack of exercise and physical activity has led to an increase in so-called lifestyle disorders such as diabetes, high cholesterol levels, and obesity, which can be countered by wellness services. Increasing disposable income and a widening health-conscious population have produced rising demand for these services.

The domestic segment acquired the largest market share in the global wellness tourism market and was valued at USD 432.99 billion in 2017. It is projected to reach a market size of USD 656.51 billion by 2025, growing at a CAGR of 5.3% by 2025.

The international segment is the fastest growing category in the market, with a CAGR of around 8.8% over the forecast period. The significant growth in the market is attributed to the high spending per trip from the consumers in the market. However, a substantial rise in the number of tours has also been recorded for the international market. In 2017, a growth of around 22% had been observed in the number of tours from the last few years.

North America dominated the global market accounting for a 39.79% share in 2017 and is expected to grow at a CAGR of around 5.02% by the end of 2025. The rising number of wellness expenditures coupled with the rigorous efforts of the market players towards offering novel and lucrative packages in well-developed countries such as the U.S. has enhanced the demand for these services in the market. Consumers are attracted to different services such as weight loss programs, beauty treatments, spa therapies, anti-aging treatments, and yoga programs to boost their mental and physical wellbeing. The rising need for such services due to the rise in stress level and competitive work environment has propelled the market.

Asia Pacific is the fastest growing region in the global market, predicted to grow at a CAGR of around 10.42% till the end of 2025. The market held a significant share of about 21.37% in 2017. The advancements in technology and the rising disposable income in the developing countries such as India, and China has driven the demand the demand for international services over the forecast period. These countries also have a long tradition of practices such as meditation, Ayurveda and yoga health.

For purchase information for the report, see this link. For a digital copy of the 2018 "Global Wellness Tourism Economy" Report, see the Global Wellness Institute website. The Leisure Tourism website search "wellness tourism" OR "wellness travel" OR "wellness industry" currently finds around 170 records.

Article details

  • Author(s)
  • David Simpson
  • Date
  • 28 March 2019
  • Subject(s)
  • General Leisure and Recreation
  • Tourism