Why is wellness tourism industry growing faster?
Rise in disposable income and consumers desire to enhance their mental, as well as physical wellbeing, has favoured the demand for these services. Furthermore, increasing hectic lifestyles characterised by work-related stress has been augmenting the market growth across the globe.
Why is wellness tourism important?
Wellness tourism is travel for the purpose of promoting health and well-being through physical, psychological and spiritual activities. Wellness tourism is often correlated with medical tourism because health interest motivates the traveler.
Which is the biggest market of wellness tourism?
Attributed to the extreme growing demand for health wellbeing, North America is one of the leading markets of wellness tourism industry. The U.S. accounts for more than one-third of all global wellness tourism revenues, and it is by far the largest national market.
What is the wellness tourism industry worth?
Wellness tourism was a $720 billion market in 2019 and then fell to $436 billion in 2020, due to the widespread travel disruptions during the pandemic.
Why do people go on wellness retreats?
What is a wellness retreat, really? By definition, it’s travel for the purpose of promoting health and wellbeing through physical, psychological, or spiritual activities. For me, it means stepping back from the busyness of day-to-day life and slowing down, relaxing, and unwinding in solitude.
How big is the wellness industry?
The global wellness industry, including spiritual self-care, has grown to $4 trillion. The wellness market has expanded by 6.4% since 2017 from $3.7 trillion to a value of $4.2 trillion. This growth has been twice as fast as the growth of the global economy!
Why health and wellness is important?
Overall physical wellness encourages the balance of physical activity, nutrition and mental well-being to keep your body in top condition. Obtaining an optimal level of physical wellness allows you to nurture personal responsibility for your own health.
What is included in wellness tourism?
Wellness tourists travel to improve or maintain their health and quality of life, whereas medical tourists travel to receive treatment for a diagnosed condition. Wellness tourism trips include a variety of activities such as thermal springs, day spa and hotel spa, thalassotherapy, exercise. Pilates.
What makes wellness tourism different from medical tourism?
Medical tourism involves people travelling expressly to access medical treatment. People travel for wellness to maintain or enhance their personal health and well-being, and wellness services focus on healing, relaxation or beautifying of the body that is preventive and/or curative in nature.
Is wellness a trillion dollar industry?
We estimate the global wellness market at more than $1.5 trillion, with annual growth of 5 to 10 percent.
What is the future of wellness industry?
The wellness tourism is projected to reach US$1.2 Trillion by 2027. According to Business Wire, the global market for Wellness Tourism is projected to reach US$1.2 Trillion by 2027, growing at a CAGR of 6.6% over the period 2020-2027. The Wellness Tourism market in the U.S. was estimated at US$212.7 Billion for 2020.
How much is the wellness industry worth 2021?
The global health and wellness market reached a value of US$ 3,294 Billion in 2021.