PRODUCT NEWS
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| US spa industry hits record-breaking US$21.3 billion in revenue in 2023 |
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| 24 Apr 2024 . BY Megan Whitby |
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| The US spa industry is continuing to experience record growth in overall revenue / Shutterstock/Alena Ozerova |
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The US spa industry is continuing its upward trajectory, achieving an unprecedented milestone with a record-breaking revenue of US$21.3 billion in 2023, surpassing the previous high of US$20.1 billion in 2022.
This data stems from the 2024 edition of the annual US Spa Industry Study, conducted by PricewaterhouseCoopers (PwC) in collaboration with the International Spa Association (ISPA).
The study – run since 1999 – delves into the core metrics known as the "Big Five" of the spa industry: total revenue, spa visits, spa locations, revenue per visit and industry employment.
Comparing 2022 to 2023, the study reveals steady growth across these key financial indicators.
Revenue increased by 5.7 per cent, marking a historic peak since record-keeping began. The number of spa visits saw a slight uptick from 181 million to 182 million (+ 0.6 per cent), while the total number of US spas also experienced a modest increase from 21,790 to 21,840 (+0.2 per cent).
Additionally, revenue per spa visit rose 5.1 per cent from US$111.50 to US$117.20, reflecting increased consumer spending and demand for spa services.
Moreover, the industry witnessed a notable expansion in its workforce, with the number of employees rising 2.6 per cent from 360,700 to 370,100 by January 2024.
The insights were unveiled today (24 April) at ISPA's annual Conference & Expo in Scottsdale, Arizona.
ISPA will release the full study later this year, packed full with even more insights and data.
If you would like to get each issue of Spa Business and Spa Business insider magazines sent direct to you for FREE, plus the weekly Spa Business and Spa Business insider ezines, sign up now!
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