DUBLIN, March 1, 2023 /PRNewswire/ — The “Global Wellness Tourism Market – Forecasts from 2022 to 2027” report has been added to ResearchAndMarkets.com’s offering.
The global wellness tourism market was valued at US$256.227 billion in 2020.
Unlike medical tourism, which involves the treatment of already diagnosed conditions, wellness tourism services focus on the prevention of diseases by emphasizing a healthy lifestyle and improved quality of life. The growth of this market has been driven by the rising middle-class population and the consumer’s desire to adopt a wellness lifestyle.
The increasing affordability of flights and travel options is also boosting the number of travelers across the globe, which, in turn, is also fuelling the demand for wellness tourism services worldwide.
According to the Global Wellness Institute, international and domestic wellness trips accounted for 17 percent of total tourism expenditures in 2017. Tourists are increasingly opting for spa therapies and other wellness activities while on a trip to foreign lands. Hectic work schedules and sedentary lifestyles have resulted in a decline in physical activities among people, leading to a rise in lifestyle-related problems.
Governments in various countries are also taking the necessary steps and measures to ramp up the overall growth of the travel and tourism industry, which will also fuel the global wellness tourism market’s growth during the next five years. The Japan National Tourism Organization (JNTO), for example, is promoting wellness tourism in lesser-known places like Beppu and Misgui. Players in the global wellness tourism market are employing a variety of growth tactics in order to increase their market share globally, which will drive the market forward till the conclusion of the forecast period.
Secondary wellness travelers account for a substantial market share
By type of traveler, the secondary traveler segment accounted for a significant market share in 2019. A secondary traveler is someone who wants to stay healthy whether on vacation or at work. The primary wellness traveler, on the other hand, is the one whose trip is primarily motivated by wellness purposes. An increasing number of people suffering from anxiety and depression are taking trips specifically for wellness services, including spa treatments and wellness activities.
Asia Pacific to witness the fastest regional market growth
Geographically, the global wellness tourism market has been segmented into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. The Asia Pacific regional market for wellness tourism is poised to grow at the highest CAGR during the forecast period. The booming travel and tourism industry in countries like India, Thailand, and Malaysia are the major drivers of the wellness tourism market in this region.
The presence of global hotel and resort companies in this region along with the continued expansion of the hospitality industry is also contributing to the market growth of wellness tourism in this region. Rising disposable incomes and shifting preference towards wellness activities in order to relax, especially among millennials, are also fueling the growth of this regional market.
Supportive government policies and measures to attract more and more international tourists will continue to spur the market growth of wellness tourism in Asia Pacific during the forecast period. For example, in 2016, a National Medical & Wellness Tourism Promotion Board was introduced in India to promote tourism focusing on wellbeing. The Malaysian Association of Tour and Travel Agents (MATTA) collaborated with the Association of Malaysian Spas (AMSPA) in June 2019 to create favorable conditions for members to promote wellness tourism in Malaysia.
North America holds a significant market share throughout the forecast period on account of high disposable incomes and living standards, which support the high demand for wellness services in the region. Growing concerns regarding anxiety, depression, and obesity are encouraging North American customers to opt for different wellness services, thus positively impacting the overall regional market growth.
Segmentation
By Type of Traveler
- Primary Wellness Traveler
- Secondary Wellness Traveler
By Location
By Service
- Lodging
- In-Country Transport
- Food & Beverage
- Shopping
By Mode of Booking
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Asia Pacific
- China
- Japan
- India
- South Korea
- Taiwan
- Thailand
- Indonesia
Companies Mentioned
- Four Seasons Hotels Limited
- PRAVASSA
- Canyon Ranch
- Rancho La Puerta Inc.
- Accor
- Hyatt Corporation
- Red Carnation Hotels
- InterContinental Hotels Group
- Hilton
For more information about this report visit https://www.researchandmarkets.com/r/b25jkw-wellness?w=5
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
