Tourism continues to represent the largest and fastest growing industry as it attracts tourists from various developed and developing countries. Increasing expenditure on tourism is expected to rev up demand for wellness tourism globally. In addition, customers prefer spending their income on luxurious services such as spa therapies and aromatherapy. As need to maintain health and well-being is increasing, demand for wellness tourism is expected to remain high. Prevalence of chronic diseases will also continue to propel demand for medical and wellness tourism. Moreover, increasing number of organizations are offering employee benefits such as leaves for vacations and refund of various trips made by the employees is further expected to encourage customers to spend on wellness tourism Such factors are expected to impact growth of the global market positively.
According to Fact.MR, the global wellness tourism market is expected to represent a value of over US$ 1.3 Tn by the end of 2026.
Sub Saharan Africa
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
Stressful Lifestyle to Boost Demand
Growing need to maintain health through various psychological, spiritual and physical activities has led to an upsurge in demand for spa therapies and relaxing treatments. Increasing demand for refreshing meditation, exercise, rejuvenating traditional therapies and healthy food is expected to rev up growth of the global wellness tourism market significantly. Fast-paced and stressful lifestyle leads to increasing body pain in joints and other parts of body. Customers prefer spending on various relaxing spa therapies in order to relieve and manage body pain. Growth of the global wellness tourism market will continue to remain bound to surge in demand for detoxification, de-stressing and pain management globally.
Chronic Diseases to Underscore Significant Growth Opportunities
Prevalence of chronic diseases such as arthritis, heart disease and obesity is expected to rev up demand for wellness tourism globally. According to CDC, 3 in 4 citizens in the U.S. who fall in the age bracket of 65 years and above have multiple chronic conditions including diabetes, high blood pressure and arthritis. Increasing demand for chronic care management has further led customers to spend on wellness tourism. Growing need for spa therapies including steam baths and sauna treatments that detoxify the system through skin and helps in reducing weight is expected to encourage customers to spend on wellness tourism and various therapies offered in the tourism package.
Employee Benefits to Impact Global Market Growth
Sedentary and stressful lifestyle is expected can hinder the performance of the employees of a company. Employers are increasingly offering various employee benefits such as travel refunds and leaves for vacations to ensure good health and well-being of the employees. As increasing number of companies are extending employee benefits, demand for wellness tourism is expected to remain high globally.
Domestic Tourism to Represent a Leading Segment
As international tourism continues to remain comparatively expensive, demand for domestic tourism is expected to remain high. In terms of revenues, the domestic tourism type segment is expected to generate significant revenues, accounting for a value of over US$ 3.2 Tn by the end of 2026. However, the international tourism type segment is expected to register a robust CAGR during the forecast period.
Leading market players operating in the global wellness tourism market include Accor, Allergan, Canyon Ranch, Carlson Rezidor, Four Seasons, Fitpacking, Galderma, Hilton, Hyatt, IHG, Ipsen, KPJ Healthcare, Marriott, Miraval Resort & Spa, Mövenpick, Omni Hotels Management, Pravassa, Rancho La Puerta, Shangri-La and Starwood.
Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.M
Growing need for detoxification and stress-relief is expected to fuel demand for wellness tourism globally. In addition, prevalence of chronic diseases is expected to impact growth of the global wellness tourism market positively. This report, compiled by Fact.MR, provides in-depth analysis of the global wellness tourism market for the forecast period 2017-2026, and offers key insights about future market direction.
The scope of Fact.MR’s report is to analyze the global wellness tourism market for the forecast period 2017-2026 and provide readers an unbiased and accurate analysis. Wellness tourism manufacturers, stakeholders, and suppliers in the global consumer goods sector can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and journals pertaining to wellness tourism.
The report commences with a brief information of the global wellness tourism market. This executive summary sets the tone for the rest of the report, providing users the scope of the report. The executive summary includes important facts and statistics on the global wellness tourism market.
The next section offers an overview of the global wellness tourism market. This comprises an introduction to the market, along with a standard definition of the product – wellness tourism. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global wellness tourism market, the report provides updates about market opportunities, which can benefit leading manufacturers of wellness tourism. With continuous evolution of the consumer goods sector, keeping a record of latest developments and trends is fundamental for wellness tourism manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, pricing analysis, list of distributors, and cost structure are provided in this section.
Considering the wide scope of the global wellness tourism market and to offer in-depth insights, Fact.MR’s report provides segment-wise analysis and forecast. The wellness tourism market has been categorized on the basis of tourism type, and region. This segmentation analysis is comprehensive, coupled with a detailed country-wise forecast provided on all parameters.
The report’s last section comprises of the global wellness tourism market competitive landscape, to provide readers with the dashboard view of company analysis and market players. This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global wellness tourism market.
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