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NEWS
Global Wellness Institute says global wellness economy is worth US$3.7 trillion
POSTED 17 Oct 2016 . BY Liz Terry
Ophelia Yeung and Katherine Johnson identified 10 areas of the global spa economy and had the relative value of these represented by different sized balls, held by industry representatives Credit: Jane Kitchen
Researchers Ophelia Yeung and Katherine Johnson, from the Global Wellness Institute (GWI), revealed the results of their latest research on the global wellness economy at the Global Wellness Summit this morning (17 October 2016).

They found the total value is US$3.7trillion. This represents five per cent of the global economy and half of all health expenditure.

In arriving at this figure, Yeung and Johnson included data on " ten industries which enable consumers to pursue their own wellness lifestyle," including spa, health and fitness, alternative and complementary medicine and beauty (full list below).

They found that between 2013 and 2015, the global wellness economy grew by over 10 per cent, while by comparison, the overall global economy shrank by 2 per cent.

They citied a number of reasons for this success. Firstly the growth in the middle classes who have more money to spend on lifestyle. Secondly growth in chronic disease and thirdly, ageing populations which mean we're spending more on healthier lifestyles and prevention.

They said there will be a growing need for people to experience a stronger connection to nature, communities, other people and things which are authentic - deepening what wellness means.

Yeung and Johnson believe the wellness economy and wellness sectors will grow faster than global GDP and that their growth trajectories will outstay global growth cycles and geo-political disruptions.

They said "We predict a major shift in how people think about wellness – from discretionary to something we integrate into the core parts of our life."

They predicted that major growth areas for these industries will be the workplace and the home, saying "For many people, it’s our work and home environments that are making us feel unhealthy."

Workplace wellness was found to be a US$43bn market, with huge growth potential, as only 10 per cent of employees are currently receiving support (US$142 per person is currently being spent on wellness). Yeung and Johnson said 10-15 per cent of GDP is lost each year through unwell and disengaged employees.

The numbers break down as follows:

GLOBAL SPA ECONOMY 2016
From Global Wellness Institute

SPA
Value US$99bn
Number of spas 121,595
Number of jobs generated 2.2million

WELLNESS TOURISM
Value US$563 billion
Number of trips 691m (1m more than 2014)
Number of jobs generated 17.9m

THERMAL SPA
Value US$51bn
Number of thermal spas 27,507
Number of jobs generated 1.4m

THERMAL MINERAL SPAS
Value US$51bn
Number of mineral spas 27,570

WORKPLACE WELLNESS
Value US$43bn

WELLNESS LIFESTYLE REAL ESTATE
Value US$119bn

COMPLEMENTARY AND ALTERNATIVE MEDICINE
Value US$199m

FITNESS AND MIND BODY INDUSTRY
Value US$542bn

PREVENTATIVE AND PERSONALISED MEDICINE
Value US$534bn

HEALTH, EATING, NUTRITION AND WEIGHT LOSS
Value US$648bn

BEAUTY AND ANTI AGEING
Value US$999bn

TOTAL US$3.7trillion

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News   Products   Magazine
NEWS
Global Wellness Institute says global wellness economy is worth US$3.7 trillion
POSTED 17 Oct 2016 . BY Liz Terry
Ophelia Yeung and Katherine Johnson identified 10 areas of the global spa economy and had the relative value of these represented by different sized balls, held by industry representatives Credit: Jane Kitchen
Researchers Ophelia Yeung and Katherine Johnson, from the Global Wellness Institute (GWI), revealed the results of their latest research on the global wellness economy at the Global Wellness Summit this morning (17 October 2016).

They found the total value is US$3.7trillion. This represents five per cent of the global economy and half of all health expenditure.

In arriving at this figure, Yeung and Johnson included data on " ten industries which enable consumers to pursue their own wellness lifestyle," including spa, health and fitness, alternative and complementary medicine and beauty (full list below).

They found that between 2013 and 2015, the global wellness economy grew by over 10 per cent, while by comparison, the overall global economy shrank by 2 per cent.

They citied a number of reasons for this success. Firstly the growth in the middle classes who have more money to spend on lifestyle. Secondly growth in chronic disease and thirdly, ageing populations which mean we're spending more on healthier lifestyles and prevention.

They said there will be a growing need for people to experience a stronger connection to nature, communities, other people and things which are authentic - deepening what wellness means.

Yeung and Johnson believe the wellness economy and wellness sectors will grow faster than global GDP and that their growth trajectories will outstay global growth cycles and geo-political disruptions.

They said "We predict a major shift in how people think about wellness – from discretionary to something we integrate into the core parts of our life."

They predicted that major growth areas for these industries will be the workplace and the home, saying "For many people, it’s our work and home environments that are making us feel unhealthy."

Workplace wellness was found to be a US$43bn market, with huge growth potential, as only 10 per cent of employees are currently receiving support (US$142 per person is currently being spent on wellness). Yeung and Johnson said 10-15 per cent of GDP is lost each year through unwell and disengaged employees.

The numbers break down as follows:

GLOBAL SPA ECONOMY 2016
From Global Wellness Institute

SPA
Value US$99bn
Number of spas 121,595
Number of jobs generated 2.2million

WELLNESS TOURISM
Value US$563 billion
Number of trips 691m (1m more than 2014)
Number of jobs generated 17.9m

THERMAL SPA
Value US$51bn
Number of thermal spas 27,507
Number of jobs generated 1.4m

THERMAL MINERAL SPAS
Value US$51bn
Number of mineral spas 27,570

WORKPLACE WELLNESS
Value US$43bn

WELLNESS LIFESTYLE REAL ESTATE
Value US$119bn

COMPLEMENTARY AND ALTERNATIVE MEDICINE
Value US$199m

FITNESS AND MIND BODY INDUSTRY
Value US$542bn

PREVENTATIVE AND PERSONALISED MEDICINE
Value US$534bn

HEALTH, EATING, NUTRITION AND WEIGHT LOSS
Value US$648bn

BEAUTY AND ANTI AGEING
Value US$999bn

TOTAL US$3.7trillion

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Open water swimming venue launched in London's Canary Wharf
A new open water swimming venue will has been launched in the heart of Canary Wharf, London, UK – one of Europe's most prestigious office and commercial districts.
Record-breaking 140 countries to celebrate World Wellness Weekend 2022
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12-13 Sep 2022

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Wyndham Lake Buena Vista Disney Springs® Resort, Lake Buena Vista, United States
12-14 Sep 2022

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Galgorm Spa & Golf Resort , Ballymena, Ireland
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ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2022

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS