GWI chair Susie Ellis (in yellow) with report researchers Ophelia Yeung, Tonia Callender and Katherine Johnston / photo: GWS
The global wellness economy has exceeded US$5.6 trillion and will reach US$8.5 trillion by 2027, according to the 2023 Global Wellness Economy Monitor report.
The figures, just released by the Global Wellness Institute (GWI), represent a major turnaround after COVID-19 which saw the market shrink from US$4.9 trillion to US$4.4 trillion (-9.5 per cent) between 2019 and 2020.
It’s since grown 26 per cent between 2020 and 2022 and seven of the 11 wellness sectors now exceed their 2019, pre-pandemic values (see Diagram 1).
Spa-related sectors The report shows that the traditional and complementary medicine sector grew by 15 per cent from 2020 to 2022 and is now worth US$518.6 billion.
The global spa market is valued at US$104.5 billion and thermal/mineral springs at US$46.3 billion. While these sectors increased by 50 per cent and 16 per cent respectively from 2020 to 2022, they’re still behind their 2019 values of US$113.8 billion and US$65.7 billion.
Yet, GWI predicts that a full recovery for these markets will be swift, increasing by 8.3 per cent and 14.3 per cent a year respectively, given pent-up demand. By 2027 it estimates that the spa industry will be worth US$156.1 billion and thermal/mineral springs will generate US$90.5 billion (see Diagram 2).
Regional analysis Wellness markets in all global regions have fully recovered from the pandemic, but North America (now at 123 per cent of its 2019/pre-pandemic level), Middle East-North Africa (up 119 per cent) and Europe (now at 114 per cent) have shown the most powerful growth rates since 2019.
In 2022, the North American market (US$1.9 trillion) surpassed Asia-Pacific (US$1.7 trillion) as the largest regional wellness economy. These two regions, along with Europe (US$1.5 trillion), now make up 90 per cent of the entire wellness market.
The report also states that per capita spending on wellness is highest in North America (US$5,108) and Europe (US$1,596).
Presenting the findings at the Global Wellness Summit in November (see p88), report co-author Ophelia Yeung said: “We’re very bullish about the wellness economy. Wellness has become a dominant consumer value and interest in it is only going to grow.
“But we also have a lot of unknown factors including widening wealth gaps, uncertain economic conditions and rapidly changing geopolitics that will affect the flow of people, capital, technology and ideas.
“How the wellness economy will do will depend on the interplay of all of these factors.”
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Association focus: Thermal Heritage
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Interview: Paul Simons
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Ara Patterson from Equinox Hotels talks about a partnership with
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GWI chair Susie Ellis (in yellow) with report researchers Ophelia Yeung, Tonia Callender and Katherine Johnston / photo: GWS
The global wellness economy has exceeded US$5.6 trillion and will reach US$8.5 trillion by 2027, according to the 2023 Global Wellness Economy Monitor report.
The figures, just released by the Global Wellness Institute (GWI), represent a major turnaround after COVID-19 which saw the market shrink from US$4.9 trillion to US$4.4 trillion (-9.5 per cent) between 2019 and 2020.
It’s since grown 26 per cent between 2020 and 2022 and seven of the 11 wellness sectors now exceed their 2019, pre-pandemic values (see Diagram 1).
Spa-related sectors The report shows that the traditional and complementary medicine sector grew by 15 per cent from 2020 to 2022 and is now worth US$518.6 billion.
The global spa market is valued at US$104.5 billion and thermal/mineral springs at US$46.3 billion. While these sectors increased by 50 per cent and 16 per cent respectively from 2020 to 2022, they’re still behind their 2019 values of US$113.8 billion and US$65.7 billion.
Yet, GWI predicts that a full recovery for these markets will be swift, increasing by 8.3 per cent and 14.3 per cent a year respectively, given pent-up demand. By 2027 it estimates that the spa industry will be worth US$156.1 billion and thermal/mineral springs will generate US$90.5 billion (see Diagram 2).
Regional analysis Wellness markets in all global regions have fully recovered from the pandemic, but North America (now at 123 per cent of its 2019/pre-pandemic level), Middle East-North Africa (up 119 per cent) and Europe (now at 114 per cent) have shown the most powerful growth rates since 2019.
In 2022, the North American market (US$1.9 trillion) surpassed Asia-Pacific (US$1.7 trillion) as the largest regional wellness economy. These two regions, along with Europe (US$1.5 trillion), now make up 90 per cent of the entire wellness market.
The report also states that per capita spending on wellness is highest in North America (US$5,108) and Europe (US$1,596).
Presenting the findings at the Global Wellness Summit in November (see p88), report co-author Ophelia Yeung said: “We’re very bullish about the wellness economy. Wellness has become a dominant consumer value and interest in it is only going to grow.
“But we also have a lot of unknown factors including widening wealth gaps, uncertain economic conditions and rapidly changing geopolitics that will affect the flow of people, capital, technology and ideas.
“How the wellness economy will do will depend on the interplay of all of these factors.”
Read more from this issue of Attractions Management magazine
View contents of Attractions Management 2023 issue 4
Sponsored: Highest French distinction for RKF's CEO
After receiving the highest civilian award for services to the French nation, Riadh Bouaziz, CEO of RKF Luxury Linen, reflects on his company’s many achievements and considers what lies ahead
Association focus: Thermal Heritage
Jane Kitchen finds out how two key associations – the European Historic Thermal Towns Association and the Great Spa Towns of Europe – are protecting and promoting the unique cultural relevances of Europe’s spa towns
Interview: Paul Simons
As he retires from the Great Spa Towns of Europe, the industry leader reflects on his long and esteemed career
Sponsored: New ways with water
Working globally with architects and interior designers allows Myrtha Wellness to embrace the latest trends in the international hospitality sector, as director Stefano Cattaneo explains
Sponsored: Cutting edge
Ara Patterson from Equinox Hotels talks about a partnership with
Gharieni that’s delivering ROI and innovative treatments for guests
Interview: Niamh O'Connell
What does Jumeirah’s first vice president of wellbeing have planned for the Middle East-based hospitality group?
Sponsored: Lasse Eriksen on contrast therapy
Contrast therapy is gaining attention for its healing effects. We ask aufguss and sauna expert Lasse Eriksen to share his views on the perfect experience
Nature spas: Tree of life
Lisa Starr discovers two retreats in Austria and Italy which base their wellbeing concepts on forests
Sponsored: Spirit of Excellence
Rupert Schmid and Pierre-Louis Delapalme, owners of Biologique Recherche, discuss the global rollout of its ‘Ambassade’ flagship spas
Sponsored: Outstanding performance
Bicester Hotel & Spa is working with Matrix Fitness to enable wellness guests to train like athletes with a unique offering
Experience design company, BRC Imagination Arts, has completed a transition that sees founder
Bob Rogers pass ownership of the business to four long-serving senior executives, while
remaining actively involved with the company.
Movie Park Germany has opened a new Paramount Pictures-themed attraction as part of its 30th
anniversary celebrations, using immersive storytelling and adaptive reuse to reinforce the park’s
longstanding “Hollywood in Germany” positioning.
Therme Manchester’s 28-acre development, which will include interconnected glass pavilions
that measure 65,000sq m, will be the largest bathing and wellbeing attraction in the world once
complete, according to prof David Russell, CEO of Therme UK.
Efteling has opened Hooghmoed, a new family drop tower designed to broaden the appeal of its
recently launched Sirene Island themed area and introduce younger visitors to thrill attractions.
A proposed Puy du Fou development near Bicester and Universal Destinations and Experiences’
planned resort in Bedford are emerging as part of a wider transformation of the Oxford–
Cambridge Growth Corridor into a major centre for UK leisure and tourism inv
Shedd Aquarium has opened the Immersion Theater developed in partnership with SimEx-
Iwerks, as part of a wider strategy to enhance the guest experience and create additional
revenue opportunities.
The UK government has announced a temporary reduction in VAT on visitor attractions and
children’s meals as part of a summer cost-of-living support package designed to stimulate the
visitor economy and encourage family days out.
As designer Yinka Ilori prepares for his first solo gallery show in London, he speaks exclusively
to CLADmag about his mission to spread joy, the power of play, and his bold approach to using
colour (including the colours you won’t see in his work).
The government of Thailand is exploring plans for a THB300bn (£6.3bn, US$8.3bn)
entertainment complex in the country’s Eastern Economic Corridor (EEC), with officials
proposing a large-scale theme park and sports destination as part of a broader tourism and
economic development strategy.
Royal Caribbean has revealed its Hero of the Seas cruise ship, home to the most pools at sea
(nine), and a record-breaking 28 dining venues, as well as attractions including a waterpark
with two new family raft slides.
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