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Global Wellness Tourism Market: Overview
The global wellness tourism market is expected to grow at a CAGR of 7.2% during the forecast period 2021-2030. Hence, the wellness tourism market is expected to grow from $801.6 billion in 2020 and gain a valuation of $1,592.6 billion by 2030. Furthermore, the accommodation segment of the market wellness tourism held a significant share in 2020.
Wellness tourism is travel for the purpose of improving or maintaining the personal well-being of an individual. The concept is gaining traction due to an increase in people’s desire to achieve many outcomes such as disease prevention, healthy living, managing bad lifestyle habits, reducing stress and/or gaining authentic experiences. This factor creates many opportunities in the global wellness tourism market. Additionally, the wellness industry thrives on its ability to help people use travel as an opportunity for rejuvenation, relaxation and rest, joy, self-actualization and discovery, study notes in the global wellness tourism market.
Increasing people’s focus on visiting different places and facilities including clinics, hospitals, fitness centers, wellness centers and wellness spas to improve their health mental and physical, is driving sales growth in the global wellness tourism market.
Today, tourists are keen to socialize with the local people and learn about their culture and nature. These activities help them reduce stress, maintain a healthy lifestyle, improve their well-being and prevent disease. Hence, an increase in the number of such travelers is expected to create promising business prospects in the global wellness tourism market during the forecast period.
The increase in the use of computers, mobile phones and other networking devices and the increase in the percentage of online acquaintances in major parts of the world have led to an increase in the inclination of people to use online travel bookings instead of conventional booking methods. This factor is supporting the growth of the global wellness tourism market.
The demand in the global wellness tourism market is growing due to the global propensity of the masses to immerse themselves in the cultures of a foreign country. Wellness tourism basically refers to travel to a different country or region in order to gain physiological and mental tranquility through the native therapies of that region. In contemporary times, globalization has not only led to the exchange of products and services between regions, but has also led to an exchange of cultures. Hence, the demand in the global wellness tourism market is expected to reach new heights in the coming years.
Marketing and promotions have played a crucial role in establishing an image of mental peace and physical well-being achieved through herbal treatments, spa therapies and rejuvenation programs in exotic locations. . This factor, together with the increasing ability to pay of the masses, has facilitated the movement of people across countries for their physiological well-being. Hence, the demand in the global wellness tourism market has been growing at a steady pace in recent times. Additionally, several vacation planners and hospitality websites have sprung up over the past decade, and these entities have widely promoted the field of wellness tourism. It has also created spaces for growth within the global medical tourism market.
Several exotic destinations in Asia-Pacific, including Malaysia, Indian mountain ranges and Chinese retreats, are extremely popular across the world. Hence, the demand in the wellness tourism market across Asia-Pacific has grown at a steady pace. The general propensity to travel to unexplored destinations has propelled the demand for wellness tourism in North America and Europe.
Global Wellness Tourism Market: Overview
The global wellness tourism market is poised to witness healthy growth in the coming years. The increasing incidence of mental illnesses primarily related to personal and professional reasons is fueling the demand for holistic remedial therapies.
Wellness tourism refers to trips in which activities intended for health and well-being are given priority. Wellness travel packages include healthy food, spa treatments, exercise, and opportunities for spiritual and creative development. Wellness therapies include the administration of conventional, complementary, alternative, herbal, or homeopathic medications, alone or in combination.
Global Wellness Tourism Market: Trends and Opportunities
One of the major growth drivers for the wellness tourism market is the growing focus of the hospitality industry on wellness. Major hotel chains are equipped with a state-of-the-art health and wellness center that guests combine during their stay. These offer massages, spa treatments, meditation, spiritual treatments and herbal therapies. The top travelers who take wellness trips focus on wellness.
The growth of leisure travel is also helping to boost wellness tourism. Travelers from different parts of the world who seek to experience local culture tend to experience centuries-old local health remedies while traveling. Word of mouth marketing of wellness and health remedies offered in a particular place drives wellness tourism.
Secondary travelers seek an additional wellness package on leisure trips for exercise. Wellness programs may include organic food, special diets seasonal fruits, natural herbs, spa treatments, massages with aromatherapy in hotels. Therefore, the growing number of hotels that carry wellness destination quality labels indirectly stimulate wellness tourism.
Travelers traveling with religious goals also tend to experience local medicinal therapies offered by local healers. This serves to stimulate wellness tourism.
Global Wellness Tourism Market: Market Potential
In recent industry news, India’s Maharashtra Tourism Development Corporation (MTDC) has partnered with Global Vipassana Pagoda to promote wellness tourism. The purpose of the association is to encourage and promote wellness tourism in the state.
Global Wellness Tourism Market: Geographical Perspectives
North America is a key regional market for wellness tourism. High awareness among individuals for holistic health therapies and high disposable incomes driving health travel are key factors driving the North America wellness tourism market. The United States and Canada are key domestic markets for North American wellness tourism. The growing popularity of wellness tourism among baby boomers will further boost the North American market for anti-aging skincare and spa treatments.
Asia-Pacific is rapidly becoming a key market for wellness tourism. The growing popularity of Ayurveda health practices is attracting a large number of Westerners to India. Individuals recognize the long-term health benefits of Ayurveda and travel to Indian shores to learn and practice wellness therapies. This gives impetus to the wellness tourism market.
The increasing adoption of ancient Chinese medicine and other Eastern therapies known to improve health and wellness is driving the wellness tourism market.
Global Wellness Tourism Market: Competitive Insights
The major players in the global wellness tourism market are Accor Hotels, IHG, Canyon Ranch, and Red Carnation Hotels. Other prominent vendors in the market include IHHR Hospitality (Ananda resort), Body and Soul Wellness Center, Fitpacking, Gwinganna Lifestyle, Hilton, Kamalaya Koh Samui, MOUNTAIN TREK FITNESS RETREAT & HEALTH SPA, Wellness & Hormone Centers of America, Aro Ha Wellness Retreat, BodySense, Four Seasons Hotels, Hyatt, Marriott International and Rancho La Puerta.
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