Published Date : 24, 2022
The global wellness tourism market size was accounted at US$ 850.55 billion in 2021 and is predicted to hit around US$ 1,672.6 billion by 2030 with a registered CAGR of 7.7% from 2022 to 2030.
Demand for wellness tourism remains strong in 2022. Some sales insight revealing the strong growth of wellness tourism during the past few years are listed below:
Approximately 33.3% of the Global Wellness Tourism Market Captured by US
There is an extensive demand for the mental and physical well-being among the population of US. The high disposable income of the consumers, increased awareness regarding wellness tourism, and presence of strong connectivity across the region has significantly boosted the growth of the US wellness tourism market. The rising prevalence of various chronic and behavioral diseases is fostering the demand for the wellness tourism. The increased consumer expenditure towards the physical and mental well-being is driving the growth of the US wellness tourism market. The easy availability of various travel service providers along with the ease and convenience associated with the tickets and hotel booking due to the increased penetration of the internet and other digital media have significantly contributed to the growth of the market. The wellness tourism in US is significantly motivated by various factors such as stress reduction, desire for healthy lifestyle, and prevention of diseases. Moreover, the increased number of business travelers who club their business travel with wellness travel is driving the US wellness tourism market significantly.
Scope of the Report
|Market Size in 2020||USD 793.20 Billion|
|Revenue Forecast by 2028||USD 1421.72 Billion|
|Forecast Data||2022 to 2030|
What are the key trends in the Global Wellness Tourism Market?
Digitization in the wellness tourism is the latest trend in the market. The rising adoption of smart devices such as smartphones, tablets, and laptops and growing penetration of internet across the globe is facilitating easy travel management and travel booking. More and more travelers opt to research, book, and enquire online. The rising adoption of digital technology has favored easy online payment systems and availability of flight booking. Moreover hotels are increasingly adopting robotics for management of luggage of the tourists. The hotels are using AR and VR technologies to provide a 3D tour of the hotel rooms to the customers and allow the customers to take decisions based on the 3D experiences or 3D tour.
What are the key challenges in the Global Wellness Tourism Market?
External factors such as political unrest, terrorist attacks, geo-political issues, and global pandemics are some of the major threat to the global wellness tourism industry. The recent outbreak of the COVID-19 pandemic has resulted in around 70% decline in the tourism activities. Furthermore, a terrorist organization has taken political control over Afghanistan, ongoing war between Russia and Ukraine, and bankruptcy of the Sri Lankan economy are some of the examples that may hamper the growth of the wellness tourism market. Sri Lanka was one of the most preferred destinations for wellness tourism. Therefore, the external factors along with the government regulations pertaining to the tourism may act as a major challenge to the growth of the wellness tourism industry.
Asia Pacific Forecast the Strongest Growth Rate during the Forecast Year (2021-2030)
Asia Pacific is becoming one of the major destinations and attraction for the wellness tourists. The favorable policies of government in the countries like China, India, and Indonesia are extensively contributing to the growth of the wellness tourism market in Asia Pacific region. Furthermore, the presence of luxurious resorts, hotels, Ayurvedic spas, and other medical centers that promotes well-being are significantly boosting the growth of the wellness tourism market. Rising government investments in the development of strong infrastructure and improvement in connectivity is expected to foster the growth of the Asia Pacific wellness tourism market. Some of the major countries or destinations for wellness tourism in Asia Pacific include Thailand, China, India, Japan, Indonesia, and Sri Lanka. Further, the rising adoption of the digital technologies by the various travel service providers, hotels, and spas are positively contributing towards the market growth in Asia Pacific.
Top Wellness Tourism Market Players in 2020
Hilton Worldwide, Accor Hotels, Marriot International, Hyatt Hotels, Rosewood Hotels, InterContinental Group, Radisson Hospitality, Rancho La Puerta, Inc., PRAVASSA, Omni Hotels & Resorts, and Four Seasons Hotels are the prominent market players operating in the global wellness tourism market.
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