Wellness is one of the fastest growing industries. In just a few years it managed to add tremendous 10.6%. In 2013-2015 wellness grew up to US$3.72 trillion. What’s even more important, this industry was growing even when the global economy was decreasing by 3.6%.
The Global Wellness Economy Monitor report prepared by the Global Wellness Institute (GWI) only proves the significant growth of the industry. China is the main moving force of such success as in recent years its revenues from wellness tourism increased by 300%. Sub-Saharan Africa is currently the fastest growing spa market in the world with increase of revenues of 40%.
For the report, GWI separated wellness industry into five different markets, namely, the spa industry, wellness tourism, wellness real estates, workplace wellness and thermal springs. Interestingly, the US occupies leadership in revenues in four of the five markets (except thermal springs). Nearly 4 out 10 dollars spent on wellness are spent by the U.S., reaching US$563.2 billion annually. The second market is Germany with the total spending of US$60.2 billion.
Despite some negative forecasts, spa market is profitable and growing. In the US, the number of spa centres increased by 1,569 in 2013-2015, showing the annual growth of 7.2%. The States are followed by China and Germany.
GWI also published trends that will shape wellness industry in coming years. Mental wellness will become increasingly important. Historically more focused on “body”, modern wellness will also target “mind”. Meditations, new apps for tracking psychological state, mind/body fitness workouts may become mainstream ones. Wellness also becomes more assessable for lower income people, not only for the riches. Silence rooms in public places and wellness treatments at home are other important trends that we are likely to see in the nearest future.