NEWS
GWI report shows wellness sector is booming
POSTED 10 Oct 2018 . BY Andy Knaggs
The wellness economy is growing twice as quickly as general global economic growth, according to a new Global Wellness Economy Monitor report from the Global Wellness Institute (GWI).

The report shows that the wellness market grew by 12.8 per cent over the last two years – an annual increase of 6.4 per cent, as compared to a 3.6 per cent rate of global economic growth.

The market was worth US$4.2tn (€3.6tn, £3.2tn) in 2017, which represents more than half of all global health expenditures (US$7.3tn (€6.3tn, £5.5tn) and the wellness sector now represents 5.3 per cent of global economic output.

Such rates of growth strongly suggest wellness is becoming increasingly essential in people’s lives, rather than an occasional indulgence.

Breaking down the wellness economy into ten different sectors, the report goes on to establish revenue growth rates for each of these, with the spa economy (which includes facilities, education, consulting, associations, media and events) leading the way at 9.8 per cent growth (US$98.6bn (€85.6bn) in 2015; US$118.8bn (€103.2bn, £90.1bn) in 2017). Wellness Tourism and Wellness Real Estate have achieved revenue growth rates of 6.5 per cent and 6.4 per cent respectively.

Of the other seven sectors, six have recorded growth rates between 3.7 per cent and 4.9 per cent (personal care, beauty and anti-aging; healthy eating, nutrition and weight loss; fitness and mind-body; preventive and personalised medicine and public health; thermal/mineral springs; workplace wellness).

The seventh – traditional and complementary medicine – has been subject to a change in definition during the course of the period studied, with the likes of Ayurveda and Traditional Chinese Medicine added, so a formal growth rate can’t be provided. It is, however, a sector that was worth US$359.7bn (€312.4bn, £272.9bn) in 2017.

Looking ahead, the report predicts continued strong growth for wellness across all sectors, with projected growth rates as high as 8 per cent in specific fields between 2017 and 2022.

"The wellness market isn’t just growing, it’s extremely dynamic," said Ophelia Yeung, senior research fellow at GWI. "We believe that the three sectors that represent the core spheres of life will see the strongest growth - wellness real estate, workplace wellness and wellness tourism - while other sectors will also grow as they support the integration of wellness into all aspects of daily life. And wellness markets will become less siloed and more interconnected, converging to offer solutions and experiences in the places where people live, work and travel."

The full report is accessible here
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
 
Spa Business - GWI report shows wellness sector is booming...
12 Dec 2018 Spa Business: uniting the world of wellness
 
 
HOME
JOBS
NEWS
FEATURES
PRODUCTS
FREE DIGITAL SUBSCRIPTION
PRINT SUBSCRIPTION
ADVERTISE
CONTACT US
Sign up for FREE ezine
Latest news

10 Oct 2018

GWI report shows wellness sector is booming
BY Andy Knaggs

Katherine Johnson and Ophelia Yeung presented the new report at this year's Global Wellness Summit in Italy on

Katherine Johnson and Ophelia Yeung presented the new report at this year's Global Wellness Summit in Italy on

The wellness economy is growing twice as quickly as general global economic growth, according to a new Global Wellness Economy Monitor report from the Global Wellness Institute (GWI).

The report shows that the wellness market grew by 12.8 per cent over the last two years – an annual increase of 6.4 per cent, as compared to a 3.6 per cent rate of global economic growth.

The market was worth US$4.2tn (€3.6tn, £3.2tn) in 2017, which represents more than half of all global health expenditures (US$7.3tn (€6.3tn, £5.5tn) and the wellness sector now represents 5.3 per cent of global economic output.

Such rates of growth strongly suggest wellness is becoming increasingly essential in people’s lives, rather than an occasional indulgence.

Breaking down the wellness economy into ten different sectors, the report goes on to establish revenue growth rates for each of these, with the spa economy (which includes facilities, education, consulting, associations, media and events) leading the way at 9.8 per cent growth (US$98.6bn (€85.6bn) in 2015; US$118.8bn (€103.2bn, £90.1bn) in 2017). Wellness Tourism and Wellness Real Estate have achieved revenue growth rates of 6.5 per cent and 6.4 per cent respectively.

Of the other seven sectors, six have recorded growth rates between 3.7 per cent and 4.9 per cent (personal care, beauty and anti-aging; healthy eating, nutrition and weight loss; fitness and mind-body; preventive and personalised medicine and public health; thermal/mineral springs; workplace wellness).

The seventh – traditional and complementary medicine – has been subject to a change in definition during the course of the period studied, with the likes of Ayurveda and Traditional Chinese Medicine added, so a formal growth rate can’t be provided. It is, however, a sector that was worth US$359.7bn (€312.4bn, £272.9bn) in 2017.

Looking ahead, the report predicts continued strong growth for wellness across all sectors, with projected growth rates as high as 8 per cent in specific fields between 2017 and 2022.

"The wellness market isn’t just growing, it’s extremely dynamic," said Ophelia Yeung, senior research fellow at GWI. "We believe that the three sectors that represent the core spheres of life will see the strongest growth - wellness real estate, workplace wellness and wellness tourism - while other sectors will also grow as they support the integration of wellness into all aspects of daily life. And wellness markets will become less siloed and more interconnected, converging to offer solutions and experiences in the places where people live, work and travel."

The full report is accessible here



Connect with
Spa Business
Magazine:
View issue contents
Sign up:
Instant Alerts/zines

Print edition
 

News headlines
Breaking: Kevin Kelly and Rianna Riego ousted from Civana executive team
Breaking: Kevin Kelly and Rianna Riego ousted from Civana executive team   10 Dec 2018

With weeks to go before the opening of the new 22,000sq ft spa, Civana founders Kevin Kelly and Rianna Riego have been forced out of the resort’s .... more>>
BREAKING: Tracey Woodward to step down from Aromatherapy Associates
BREAKING: Tracey Woodward to step down from Aromatherapy Associates   07 Dec 2018

Tracey Woodward, global CEO of Aromatherapy Associates and The Refinery, has announced that she will be stepping down from her post as of the end of .... more>>
W Costa Rica opens with social spa
W Costa Rica opens with social spa   06 Dec 2018

Marriott International’s W Hotels has opened the W Costa Rica – Reserva Conchal, the first W Hotel in the country, which also includes the first .... more>>
Lanserhof Tegernsee develops new sleep quality programme
Lanserhof Tegernsee develops new sleep quality programme   06 Dec 2018

The Lanserhof Tegernsee in Germany has launched a new sleep programme that combines the latest technical equipment with naturopathic insights to .... more>>
Deep Nature designs Center Parcs spa in France with Ottoman foam ritual
Deep Nature designs Center Parcs spa in France with Ottoman foam ritual   05 Dec 2018

The Three Forests Center Parcs in Moselle, France, has added a 1,600sq m spa dedicated to wellbeing at its 435-hectare forested resort. Designed by .... more>>
Company profile


Spa Bureau

United by a common philosophy, vision, and values, we provide practical business solutions for the spa and wellness industries.

View full profile>>

Catalogue gallery


Featured Supplier

Christina Cosmeceuticals celebrates Illustrious skin whitening system

Christina Cosmeceuticals celebrates Illustrious skin whitening system

Illustrious is an in-salon treatment that effectively uses four different techniques to de-pigment and whiten the skin, as well as ensure optimal melanin management. More>>




in this issue

• Nuffield: get wellbeing into schools
• Anytime's parent company buys Basecamp
• 'Wellness hotel' for £200m leisure hub



Spa jobs




Senior Spa Therapist
Salary: Competitive Salary and Benefits
Location: Gloucestershire, UK
Company: The Calcot Collection
Spa Manager
Salary: from £24,000 with opportunity to earn commission on top
Location: Bushey, UK
Company: Bushey Grove Leisure Centre
Healthy Living Instructor (Physical Activity)
Salary: £22 per hour
Location: Barnet, UK
Company: GLL
Diary dates
Powered by leisurediary.com




15 Jan 2019

Prospects 2019

Expedia HQ, London, United Kingdom


15-17 Jan 2019

EAG International

ExCel London Exhibition Centre, London,



Spa Business magazine 2018 issue 4
Spa Business
2018 issue 4

View issue contents
View on turning pages
Download PDF
  Promotional feature: Phytomer
Bringing sea to the city – luxury marine skincare brand Phytomer opens its first flagship spa in the heart of Paris More>>
  New openings: Oyster spa
World’s first ‘oyster spa’ opens in France More>>


Spa Business magazine 2018 issue 3

Spa Business
2018 issue 3

View issue contents
View turning pages
Download PDF
  Finishing touch: Digital Detox
A new white paper highlights the impact technology has on our wellbeing More>>
  New opening: Comfort Zone headquarters
Spa Business gets the first glimpse of Comfort Zone’s new €40m, uber-green home in Italy More>>


Published by The Leisure Media Company Ltd Portmill House, Portmill Lane, Hitchin, Herts SG5 1DJ. Tel: +44 (0)1462 431385 | Contact us | About us | © Cybertrek Ltd