According to the International Spa Association, the number of spa visits, locations and revenues have been steadily growing. This is a direct result of an increasing trend in Wellness tourism, where consumers travel for the purpose of promoting health and well-being through physical, psychological, or spiritual activities. It is a fast growing multibillion dollar businesses which represents the future of travel.
Regardless of whether you are promoting a yoga cruise in the Caribbean, hot mineral springs in Turkey, or a state-of-the-art fitness center in Buenos Aires, it is critical that you understand how Wellness Tourism will impact your business in the very near future, and how you can best take advantage of this trend.
According to a 2013 Report by the Stanford Research Institute, Wellness tourism is already a US$439-billion market and is set to grow to US$678.5 billion by 2017. It is directly responsible for 11.7 million global jobs, which deliver US$1.3 trillion in global economic impact.
Did you know?
- Wellness tourism is growing faster than the overall tourism industry. It is projected to grow 9% per year through 2017, 50% faster than overall global tourism.
- In a 2010 survey of spas by the Stanford Research Center, 91% of respondents indicated that the Wellness trend had positively impacted revenue growth, with 25% of respondents experiencing revenue growth of up to 20 percent.
- In 2012, spa tourism represented a $179.7 billion market, with 224.9 million spa trips made both internationally and domestically
- In 2012, $390 billion was spent on Fitness and Mind/Body worldwide (SRI report)
- Wellness tourists are high-yield tourists spending 130% more than the average tourist.
- An international wellness tourist spends about 65% more per trip than the average international tourist. (SRI report 2013)
- Lack of staff certification and uniform training standards may be hurting the credibility of your business