Published on : Monday, September 19, 2016
The Wellness Tourism market is anticipated to reach USD$ 1018.5 billion by 2020, expanding at a CAGR of 10.89% between 2016 and 2020. Wellness tourism is travel for the purpose of promoting health and well-being through physical, psychological, or spiritual activities.
While wellness tourism is often correlated with medical tourism because health interests motivate the traveler, wellness tourists are proactive in seeking to improve or maintain health and quality of life, often focusing on prevention, while medical tourists generally travel reactively to receive treatment for a diagnosed disease or condition.
Wellness tourism continues to grow at an unprecedented pace, wellness tourism grew by 12.7% in 2013, surpassing 2012’s growth rate of 9%. Overall, wellness tourism expenditures reached $494 billion in 2013. That surpasses the preventative and personalized health market ($432.7 billion) and draws close to the healthy eating, nutrition and weight loss market ($574.2 billion). And wellness tourism also grew 74 percent faster than global tourism overall in the last year (14.6 percent versus 7.3 percent).
The wellness tourism market growth is augmented by the increasing awareness about anti-aging measures to preserve looks. Many men and women are undergoing facial aesthetic procedures for a youthful appearance. The US, Brazil, Mexico, China, India, France, Italy, and South Africa are some of the countries where the demand for facial aesthetics is increasing. Currently, the Americas account for more than 43% of the overall market share to dominate the global wellness tourism market. The focus on providing unique experiences, leading to an increased tourist base coupled with renovations and refurbishments of existing spas and hotels will contribute to the growth of wellness tourism market in the Americas during the forecast period.
The key players in the global wellness tourism market: Accor, Allergan, 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.
Source:- Wellness Tourism
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