The global wellness tourism market is projected to grow at a CAGR of 11.67% from US$368.179 billion in 2021 to US$797.376 billion in 2028.
— Knowledge Sourcing Intelligence
NOIDA, UTTAR PRADESH, INDIA, August 8, 2023/EINPresswire.com/ — According to a new study published by Knowledge Sourcing Intelligence, the global wellness tourism market is projected to grow at a CAGR of 5.00% between 2023 and 2028 to reach US$50.323 billion by 2028.
The prime factors propelling the market growth of the global wellness tourism market are increasing awareness and emphasis on holistic well-being, rising disposable income levels, growing health-conscious consumer demographics, advancements in wellness-related technologies and services, and a desire for relaxation and rejuvenation amidst hectic lifestyles.
Wellness tourism refers to the travel and leisure activities undertaken by individuals seeking to enhance their overall well-being, both physically and mentally. It involves journeys that prioritize health-conscious experiences, such as spa treatments, fitness retreats, mindfulness practices, healthy cuisine, and cultural immersion, often in serene and natural environments. This type of tourism focuses on promoting relaxation, stress reduction, personal growth, and a balanced lifestyle, catering to a growing demand for holistic wellness experiences in an increasingly health-conscious world.
The market is witnessing multiple collaborations and technological advancements, for instance in Feb 2023, the Leela Palace Hotels and Resorts launched a holistic wellness program, Aujasya, with two pillars: Restore (Food and Nutrition) and Renew (Mindfulness). The second pillar, “Renew – Mindfulness,” in partnership with ThinkRight.me, offers online segments for meditation, sound healing, and yoga to enhance guest wellbeing during their stay. The program aims to empower guests with tools for calm and balance.
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Based on type of traveler, the market is segmented into primary wellness travelers and secondary wellness travelers. The primary wellness traveler segment is experiencing significant growth in the global wellness tourism market due to an increasing emphasis on health-conscious lifestyles, personalized experiences, and the appeal of comprehensive wellness programs tailored to individual needs. As primary wellness travelers are individuals who actively seek out wellness experiences as the main purpose of their trip. They prioritize activities and destinations that cater explicitly to their well-being goals, such as spa vacations, wellness retreats, and health-focused getaways. Secondary wellness travelers, on the other hand, are those who incorporate wellness activities into their trips, but it’s not the primary focus. Their travel plans might include a mix of leisure, cultural exploration, and wellness experiences.
Based on location, the market is divided into domestic and international. While both domestic and international wellness tourism segments are growing, the international wellness tourism segment is often experiencing more rapid growth. This is due to the allure of exploring diverse cultures, seeking unique wellness practices, and the increasing trend of “wellness travel” becoming a lifestyle choice. Additionally, the rise of social media and the influence of wellness influencers have fueled interest in traveling to exotic destinations for immersive wellness experiences, driving the growth of international wellness tourism.
Based on service, the market is divided into lodging, in-country transport, food & beverage, shopping, and others. While all service segments contribute to the wellness tourism experience, the lodging category is experiencing significant growth due to its integration of wellness facilities, holistic ambiance, personalization, and social media appeal, aligning well with the preferences and aspirations of wellness travelers. Lodging is a fundamental component of wellness tourism, providing travelers with accommodations that contribute to relaxation, comfort, and rejuvenation. Wellness-oriented lodging options encompass a range of facilities, from luxurious spa resorts and eco-friendly retreats to boutique hotels and wellness-focused lodges. These establishments often offer amenities such as fitness centers, wellness spas, nutritious dining options, and tranquil surroundings that contribute to a holistic wellness experience.
Based on the mode of booking the market is divided into online and offline. While both online and offline booking methods have their merits, the online booking segment is currently experiencing rapid growth in the wellness tourism market due to its convenience, accessibility, variety, transparency, and alignment with the digital preferences of modern wellness travelers.
Based on geography, the Asia-Pacific region is anticipated to account for a significant share of the global wellness tourism market for several reasons. People there are becoming more aware of health, health service, and wellness, and they have unique ways of taking care of themselves. They offer a variety of wellness choices, such as places with spas and holistic treatments, set in beautiful natural locations. The region is investing in making these wellness places even better, and more people from the middle class can afford to go on wellness trips. Because of its deep cultural heritage and a strong focus on health and rejuvenation, the APAC region is becoming an important player in the growing wellness tourism industry.
As a part of the report, the major players operating in the global wellness tourism market that have been covered include Four Seasons Hotels Limited, Canyon Ranch, Rancho La Puerta Inc., Accor, Hyatt Corporation, Red Carnation Hotels, InterContinental Hotels Group PLC, Hilton, Omni Hotels & Resorts, and Marriott International, Inc. among others.
The market report segments the global wellness tourism market on the following basis:
• By Type of Traveler
o Primary Wellness Traveler
o Secondary Wellness Traveler
• By Location
• By Service
o In-Country Transportation
o Food & Beverage
• By Mode of Booking
• By Geography
o North America
• Mexico City
o South America
o Middle East and Africa
• Saudi Arabia
o Asia Pacific
• South Korea
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