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PRODUCT NEWS
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| US spa industry hits US$18bn in revenues |
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| 07 Aug 2019 . BY Katie Barnes |
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| ISPA president Lynne McNees says this is a record-setting revenue mark and that the US spa industry continues to prove itself as a thriving market |
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Spas across the US generated US$18.3bn (€16.3bn, £15bn) in revenues in 2018 and have seen a steady growth across key financial indicators in the last nine years.
This is according to data from the International Spa Association (ISPA) which released the 20th edition of its ISPA US Spa Industry Study yesterday (6 August).
Revenues in US spas increased by 4.7 per cent between 2017 and 2018 and this has been attributed to a growth in revenue per visit which has seen an uptake of 3 per cent – from US$93.70 (€83.50, £77.10) to US$96.50 (€86, £79.40) – over the same time.
There’s been a boost in spa visits too with numbers rising from 187 million in 2017 to 190 million in 2018. Additionally, there were 22,160 spa locations in 2018, which is 1.8 per cent more than in 2017.
"We’re grateful to once again report record growth for the spa industry with 2018 marking a record high US$18.3bn in revenue," says ISPA president Lynne McNees. "The spa industry continues to prove itself as a thriving market perfect for anyone looking to enter an industry with limitless potential."
The ISPA Foundation commissioned PricewaterhouseCoopers to conduct the study and Colin McIlheney, global research director at PwC says: "The number of spas is at an all-time record. There are now more than 22,000 across the country, continuing to expand its footprint. The other notable statistic is that revenues are getting ever close to the iconic 20-billion-dollar mark. This remarkable threshold could be reached during 2020.”
He adds that the results “show the spa industry still on the march to new highs”.
The complete study will be released at the 2019 ISPA Conference & Expo, which is due to take place at The Venetian in Las Vegas on 11-13 September.
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