Global Wellness Tourism Market Insights Focusing on Upcoming Industry Trends and Size during 2017-20

From: Fact.MR
Published: Fri Sep 20 2019


The report studies the wellness tourism market worldwide, especially in North America, Europe, Southeast Asia, India and Other Regions with production, size, growth, revenue, consumption, import and export in these regions. In order to study the various trends and patterns prevailing in the concerned market, Fact.MR has included a new report on global wellness tourism market insights to its wide online database including upcoming trends and market growth factors through 2026. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. The insights structured for presenting the target market are procured from both primary research and secondary research, and are utilized for validation that is valuable to investors, manufacturers and new entrants.

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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.

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.

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.

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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.

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