The global Wellness Tourism Market size is expected to reach USD 2.1 trillion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 12.42% from 2023 to 2030. Improving patient awareness about health and personal care will be one of the major drivers for the market. Promotional campaigns arranged by various governments are also encouraging wellness tourism across the globe. Wellbeing services offered by players help customers find solutions to improve or maintain their personal health and wellness. The rising number of health-conscious people is contributing to the increasing demand for wellness activities at popular travel destinations.
Wellness
tourism includes various activities such as spas, mineral springs, skiing,
hiking, Pilates, yoga, and others. In recent years, increasing demand for
wellness therapies has resulted in a rise in the number of spas, mineral
springs, and wellness retreats. According to the Global Wellness Institute, the
number of spa establishments worldwide increased by 7.3% from 149,252 in 2017
to 160,100 in 2020. Furthermore, the number of thermal/mineral spring
establishments increased by 352 from 2017 to 2020. This, in turn, has resulted
in a rise in employment opportunities. Hence, an increase in the number of spas
along with their revenue contribution is expected to drive the market over the
forecast period.
With
work from anywhere becoming the new normal, people are taking wellness
vacations to resorts where they can work while enjoying nature’s beauty.
Popular tourism destinations are providing all the facilities to allow working
professionals to grow their business prospectus through remote workcations.
Countries such as Mexico, Costa Rica, and Bali are building their infrastructure,
reputation, and marketing to provide a curated experience for work &
travel. Furthermore, the growing prevalence of mental illnesses such as
depression and anxiety, rise in disposable income, increasing adoption of
online travel services, and growing influence of social media is propelling the
market growth.
Moreover,
people are now more concerned than ever about their health because of the
COVID-19 pandemic. The development of healthy habits remains a top priority,
according to research conducted by Mindshare, which found that people's
perspectives on their overall health are influenced by the daily assessment of
their own health. Sixty-six percent of the global population is now more
concerned with their overall health than they were before COVID-19.
Furthermore, according to a study conducted by MiQ in collaboration with Sapio
Research, over 20% of consumers in the U.S., the U.K., and Australia spent more
money on wellness services during the lockdown.
Related Press
Release@ Wellness Tourism Market Report
List of Key Players in the Wellness Tourism Market
- Hilton
- Accor
- Hyatt
Corporation
- Rancho La
Puerta, Inc.
- Marriot
International, Inc.
- Rosewood
Hotel Group
- Niraamaya
Wellness Retreat
- InterContinental
Hotels Group
- Omni Hotels
& Resorts
- Radisson
Hospitality
- Four Seasons
Hotels Limited
Wellness Tourism Market Report Highlights
- In terms of
service, the lodging segment dominated the wellness tourism market in
2022. This can be attributed to the rapid expansion of huge hotel chains
that provide exotic therapies including rejuvenation programs, spa
treatments, and other services
- Based on
travel type, the domestic segment accounted for the maximum market share
in 2022. This can be attributed to increased expenditure by domestic
tourists on wellness activities
- North
America is estimated to dominate the market throughout the forecast period.
This can be attributed to the high demand for physical and mental health
improvement, increasing disposable income, and growing awareness about spa
benefits
- In May 2022,
Hilton announced a collaboration with CKR Resort to introduce its flagship
brand Hilton Hyderabad Resort & Spa in Hyderabad
- Marriott
International launched a hotel development program named
“Marriott's Bridging the Gap" in June 2022
Wellness Tourism Market Report Scope
|
Report Attribute |
Details |
|
The market size value in 2023 |
USD 923.6 billion |
|
The revenue forecast in 2030 |
USD 2.1 trillion |
|
Growth Rate |
CAGR of 12.42% from 2023 to 2030 |
|
The base year for estimation |
2022 |
|
Historical data |
2018 - 2021 |
|
Forecast period |
2023 - 2030 |
Related Reports@
Wellness Tourism Market Segmentation
Grand
View Research has segmented the global wellness tourism market on the basis of
service, travel purpose, travel type, and region:
Travel Purpose Outlook (Revenue, USD Billion, 2018 -
2030)
- Primary
- Secondary
Service Outlook (Revenue, USD Billion, 2018 - 2030)
- In-country
Transport
- Lodging
- Food &
Beverage
- Wellness
Activities
- Shopping
- Others
Travel Type Outlook (Revenue, USD Billion, 2018 - 2030)
- Domestic
- International
Regional Outlook (Revenue, USD Billion, 2018 -
2030)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Switzerland
- Asia Pacific
- Japan
- China
- India
- Australia
- Thailand
- South Korea
- Malaysia
- Latin
America
- Brazil
- Mexico
- Argentina
- MEA
- South
Africa
- Saudi
Arabia
- UAE
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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