Ottawa, Dec. 06, 2023 (GLOBE NEWSWIRE) -- The global wellness tourism market size was valued at USD 815 billion in 2022 and the sector has been growing at a healthy CAGR of 8.20% over the last decade.
The U.S. wellness tourism market size reached USD 192.34 billion in 2022 and is anticipated to surpass around USD 421.04 billion by 2032, growing at a CAGR of 8.20% from 2023 to 2032.
The wellness tourism market is expected to witness significant growth in recent years as more people prioritize health and well-being in their lifestyles. Factors driving this growth of the market include increasing awareness of the importance of preventive health measures, rising stress levels, and a desire for unique and meaningful travel experiences.
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The area of the travel business known as wellness tourism is dedicated to enhancing and preserving peoples' general well-being while they are traveling by offering a variety of experiences, services, and activities. Improving one's physical, mental, and frequently spiritual well-being is the main goal of this kind of travel. A vast array of products and services aimed at enhancing or maintaining an individual's health and quality of life are included in the wellness tourism industry.
- Malaysia has developed a plan to offer healthcare services to foreigners in almost 90% of private hospitals by 2030.
The demand for various wellness services has increased with the improved infrastructure development in the healthcare sector. Additionally, it is anticipated that rising tourism-related spending will benefit the wellness tourism sector. To guarantee consumer happiness, the service providers are concentrating on providing spa therapies and other activities. Wellness tourism, in contrast to medical tourism, emphasizes disease prevention. It emphasizes leading a healthy lifestyle and raising the standard of living.
In contrast, medical tourism entails treating an illness for which a diagnosis has already been made. Wellness is viewed as a preventative measure to improve health. The rise in internet usage along with the growing use of smart electronic devices like laptops, tablets, and smartphones is significantly contributing to the rise in wellness tourism. The market is expanding significantly in today's digital world because of aggressive social media marketing by travel agencies and service suppliers.
Key Insights:
- In 2022, the lodging segment held a dominant position in the wellness tourism market.
- Over the course of the forecast period, the wellness activity segment is anticipated to develop at a significant rate.
- In 2022, the domestic segment held a major share of the market.
- In 2022, the market was dominated by the secondary segment.
Regional Stance:
With the largest market share, North America dominated the industry in 2022. The increased focus on mental and physical wellness as well as the high level of disposable income are observed as major factors for this. The number of travelers visiting North American countries is rising as a result of the active promotion by leading players of the value of achieving physical and mental well-being through yoga, rejuvenation treatment, herbal remedies, meditation, agritourism, and spa therapies at exotic locations.
While being at the forefront of technological advancements, North America is observed to integrate multiple technologies in the healthcare sector. The integration of technology, such as wellness apps, wearable devices, and digital platforms, to enhance the overall wellness experience during travel. The U.S. attracts medical tourists across a wide range of specialties, including advanced healthcare services such as cardiac surgery, cancer treatment, organ transplantation, and cutting-edge medical technologies.
The rise of concierge medical services catering to international patients has been noted, providing personalized assistance, language support, and streamlined processes for those seeking medical care in the U.S. Some U.S. healthcare institutions have established partnerships and collaborations with international organizations to facilitate medical tourism, fostering a global exchange of medical expertise.
Asia Pacific is observed to expand at a robust pace during the forecast period. Asia Pacific countries, such as India, Thailand, Japan, and Indonesia, have rich cultural traditions that include various wellness practices such as yoga, meditation, traditional medicine, and spa therapies. Tourists often seek authentic wellness experiences rooted in these traditions.
- The government of India has launched ‘Heal in India’ initiative that aims to make the country a global hub for medical and wellness tourism.
- The Ministry of Tourism, India has recently started offering the Marketing Development Assistance Scheme (MDA) that aims to offer financial assistance to approved tourism service providers in order to promote facilities for tourists to stay.
Many countries in Asia Pacific boast natural beauty and scenic landscapes, providing ideal settings for wellness tourism. From beach resorts to mountain retreats, these destinations offer tranquility and a peaceful environment for relaxation and rejuvenation. Compared to some Western destinations, wellness services in the region can be more affordable, making it an attractive option for wellness tourists seeking high-quality experiences at a reasonable cost.
Europe is another significantly growing marketplace. Europe has a growing aging population, leading to an increased prevalence of chronic diseases and a higher demand for medical interventions. This demographic trend drives the demand for various medical devices, including diagnostic equipment and therapeutic devices. Europe boasts a well-developed healthcare infrastructure with advanced hospitals, research institutions, and healthcare facilities. The presence of state-of-the-art healthcare facilities contributes to the adoption of cutting-edge medical devices.
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Wellness Tourism Market Scope
| Report Coverage | Details |
| Global Market Size in 2023 | USD 877.76 Billion |
| Global Market Size by 2032 | USD 1,784.05 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 8.2% |
| U.S. Market Size in 2023 | USD 207.15 Billion |
| U.S. Market Size by 2032 | USD 421.04 Billion |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
Report Highlights:
Service Type Insights
With the largest share, the hotel segment commanded the majority of the market in terms of service. One of the main factors driving the expansion of the lodging market is the rising prevalence of luxury and high-end hotels and resorts in well-known tourist locations. The ever-evolving demands of its clients have shaped the wellness spa. The demand for anti-aging products is rising as consumers get more adept at using social media. The market is being propelled by the increase in interest in anti-aging skin care products. Additionally, the increased consumer disposable income, particularly in emerging nations, is increasing demand for these services. Throughout the projection period, the wellness activities category is anticipated to develop significantly.
Destination Insights
In 2022, the domestic segment led the market. It is anticipated that the market will continue to dominate over the entire projection period. Local attractions are easier to visit for domestic travelers. This is projected to encourage the expansion of the category. Throughout the projection period, the international segment is anticipated to have the quickest CAGR. Growth is mostly due to greater disposable income, more people traveling abroad, more expenditure per trip, and rising interest in Southeast Asian nations like Thailand and Malaysia as affordable tourist destinations.
Traveler Insights
In 2022, the secondary segment had the highest revenue share, and it is expected that it would continue to lead during the projected period. When seeking activities for their well-being is not the main reason for traveling, travelers engage in secondary tourism. Secondary tourism combines leisure or business travel with healthy pursuits, spa services, and mind-body experiences. In the upcoming years, the primary category is anticipated to have significant expansion. More people are incorporating aspects of wellness, prevention, self-actualization, experience, and mindfulness into their daily lives globally. Nowadays, people anticipate that their healthy habits and wellness routines will continue after they leave their homes. The segment growth is being boosted by this.
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Market Dynamics:
Driver
Emergence of E-literacy
Wellness tourism providers leverage digital marketing strategies to reach potential customers. E-literate individuals, who are comfortable navigating online platforms and social media, are more likely to discover and engage with wellness destinations and services through digital channels. The wellness tourism market increasingly offers virtual or digital wellness programs, including online yoga classes, meditation sessions, and fitness programs. E-literate individuals can easily participate in these programs, promoting wellness without the need for physical travel.
Wearable devices and health apps are becoming integral to the wellness tourism experience. E-literate individuals who use these technologies can track their health metrics, monitor their wellness progress, and integrate these devices into their travel experiences, creating a seamless and personalized wellness journey. The integration of telehealth services in wellness tourism allows travelers to consult with wellness professionals remotely. E-literate individuals can easily access virtual consultations, receive personalized wellness advice, and plan their trips accordingly.
Restraint
Slower adoption in underdeveloped areas
Underdeveloped areas often lack the necessary infrastructure to support wellness tourism. This includes inadequate healthcare facilities, spa resorts, fitness centers, and other amenities that are integral to the wellness tourism experience. The absence of such infrastructure hinders the development of wellness tourism in these regions. Wellness tourism relies on individuals actively seeking experiences that contribute to their well-being. In underdeveloped areas, there may be a lack of awareness about the benefits of wellness tourism or a limited understanding of the concept. Without awareness, there is a reduced demand for wellness-related services and experiences.
Opportunity
Integration of digital wellness programs
Digital wellness programs can gather and analyze data about individual preferences, health goals, and past experiences. This information enables the customization of wellness itineraries, ensuring that travelers receive personalized recommendations and activities that align with their specific needs and interests. Digital platforms streamline the booking and planning process for wellness travelers. Online platforms can offer a one-stop-shop for researching, planning, and booking wellness experiences, making it convenient for individuals to explore various destinations and wellness offerings.
Digital platforms provide opportunities for wellness travelers to connect with like-minded individuals, share experiences, and build a sense of community. Social networking features within wellness apps or platforms foster engagement and create a supportive environment for individuals pursuing similar health goals.
Related Reports:
- Wellness Supplements Market: The global wellness supplements market size accounted for USD 240 billion in 2022 and is expected to hit around USD 474.31 billion by 2032, poised to grow at a CAGR of 7.10% during the forecast period from 2023 to 2032.
- Health and Wellness Market: The global health and wellness market size was estimated at USD 5,243.3 billion in 2022 and is expected to hit around USD 8,945.3 billion by 2032, poised to grow at a CAGR of 5.5% during the forecast period 2023 to 2032.
- Corporate Wellness Market: The global corporate wellness market size surpassed USD 52.59 billion in 2021 and is projected to hit around USD 96.15 billion by 2030, registering a CAGR of 6.9% during the forecast period from 2021 to 2030.
Recent Developments:
- In May 2022, the flagship brand Hilton Hyderabad Resort & Spa was introduced in Hyderabad as part of an agreement between the American hospitality company Hilton Hotel and CKR Resort.
- In August 2023, the Ministry of Home Affairs, India announced the launch of a new visa category, the Ayush Visa for foreigners who are looking for medical treatment in India, including therapeutic care, wellness and yoga. The new visa category aims to fulfil the requirement of medical tourism in India.
Market Key Players:
- Hilton Worldwide
- Accor Hotels
- Marriot International
- Hyatt Hotels
- Rosewood Hotels
- InterContinental Group
- Radisson Hospitality
- Rancho La Puerta, Inc.
- PRAVASSA
- Omni Hotels & Resorts
- Four Seasons Hotels
Market Segmentation
By Service
- Lodging
- Food
- Transport
- Beverage
- Wellness activity
- Others
By Destination
- International
- Domestic
By Traveler
- Primary
- Secondary
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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