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Wellness Tourism Market Size - Segmented by Travel Type, Activity Type (In-country Transport, Lodging, Food and Beverage, Shopping, Activities and Excursions, Other Services), Purpose, and Geography - Growth, Trends, and Forecast (2018-2023)

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  • 154 Pages
  • November 2018
  • Region: Global
  • Mordor Intelligence
  • ID: 4622611
The global wellness tourism Market was valued at more than USD 650 billion in 2017 and is expected to register a CAGR of 6.81% during the forecast period. Wellness tourism is growing at a rapid pace that rivals the growth rate of the entire travel and tourism industry of the world. The emerging middle class, rising disposable incomes, and the growing consumer interest in travel, health, and new experiences, etc. are the key factors propelling the market. Mental disorders such as stress, frustration, and anxiety lead to health-related chronic diseases such as cancer and depression. Owing to the increasing awareness regarding mental health and physical wellness, the people across the world are keen on taking preventive measures against several illnesses at an early stage. Additionally, employers are also focusing on employee wellness to lower the cost of health care, improve morale, raise productivity, and stay competitive in the market. Most of the current workplace wellness are offered by rich countries and MNCs. However, governments and employers are aiming to provide incentives and reverse the negative trend. Hence, the growing demand for the workplace wellness creates opportunities for businesses, which offer wellness programs and services to design and build healthy workplaces.

Role of Government in Propelling The Wellness Tourism Market

The wellness tourism sector in Sri Lanka is at an early stage, randomly developing with the aid of private companies concentrating on hotel spas, Ayurveda resorts and spas, beauty clinics and yoga retreats. Hence, the Srilankan government has identified this as an important sector of the economy and has drafted a wellness tourism sector strategy as part of the National Export Strategy of Sri Lanka (2018-2022). This was designed and formulated with the participation and consultation of over 750 national, regional and sector-specific public and private stakeholders in Sri Lanka. The wellness strategy is awaiting the approval of the Cabinet of Ministers. Besides the government, some non-profit organizations are also focusing on enhancing the wellness tourism sector through various programs and initiatives. For Instance, Global Wellness Institute (GWI) started a Wellness Tourism Initiative to increase awareness, understanding, and the opportunities in one of the rapidly growing global tourism segments

Consumers’ Perception of Wellness Industry

The basic perception of the wellness tourism as a luxury travel market restrains most of the middle-class people from choosing the wellness packages. Initially, hotels used to promote the wellness services targeting only high-end customers. The changing demand pattern and the growing competition among hotel groups have made the service providers focus on the popular middle-class group with attractive economic packages. This has resulted in the rapid growth of the wellness industry. Additionally, most of the market is occupied by secondary tourists, who engage in wellness-related activities during their trip for some other purpose. However, the average spending per trip is higher for the primary wellness tourists.

Key Developments in the Market
  • Feb 2018 - Tavistock Development Company, in partnership with Signet LLC, and its subsidiary -Integrated Wellness Partners (IWP) announced a plan to create innovative wellness, performance and medically integrated fitness facility in Lake Nona, Orlando. The new wellness campus is expected to be one of the most comprehensive ones, which offers an array of health and wellbeing options. The new wellness campus is to be one of the most comprehensive in the region, providing a broad range of health and wellbeing programs and services for the entire community.

  • Nov 2017 - Under an aggressive expansion strategy, Rosewood Hotels launched a new spa and wellness brand, Asaya, in Rosewood Phuket, Thailand. The Asaya Spa offers a blend of spa therapies, fitness activities, nutrition coaching, educational wellness programming, lifestyle tips, and healing practices. Additionally, the second Asaya Spa will be launched in Hong Kong with the opening of Rosewood Hong Kong in this year.

Major Players: Intercontinental Hotels Group, Marriott International, Hilton Worldwide, Accor Hotels, Wyndham Hotels & Resorts, Hyatt Hotels, Red Carnation Hotels, Radisson Hospitality, Home Inns Group, Choice Hotels International

Reasons to Purchase the Report
  • To study the market, its current status and future forecast, in the developed and emerging markets

  • Various perspectives on the market with the help of Porter’s five forces analysis

  • Detailed analysis of the segment that is expected to dominate the market

  • Regions that are expected to witness the fastest growth during the forecast period

  • The latest developments, market shares, and strategies employed by the major market players

  • 3 months analyst support, along with the Market Estimate sheet (in Excel).

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Table of Contents

1. Introduction
1.1 Scope Of The Study
1.2 Market Definition
1.3 Executive Summary
2. Research Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Analysis Methodology
2.4 Research Phases
3. Wellness Tourism Market Insight
3.1 Current Market Scenario (2017-18)
3.2 Government Regulations And Initiatives
3.3 Technological Innovations
3.4 Insights On Mental Wellness Tourism Services And Other Services
4. Wellness Tourism Market Dynamics (Drivers, Restraints, And Opportunities)
4.1 Growing Proactive Interest Of People Toward Health And Wellness
4.2 Consumers' Perception Of Wellness Industry As A Luxury Segment
*List Not Exhaustive
5. Wellness Tourism Market Segmentation And Analysis (Market Size, Growth, And Forecast)
5.1 Wellness Tourism Market By Travel Type
5.1.1 Domestic
5.1.2 International
5.2 Wellness Tourism Market By Activity
5.2.1 In-Country Transport
5.2.2 Lodging
5.2.3 Food And Beverage
5.2.4 Shopping
5.2.5 Activities And Excursions
5.2.6 Other Services
5.3 Wellness Tourism Market By Purpose
5.3.1 Primary
5.3.2 Secondary
6. Wellness Tourism Market Regional Analysis (Market Size, Growth, And Forecast)
6.1 North America Wellness Tourism Market Size (2018-2023)
6.2 Europe Tourism Market Size (2018-2023)
6.3 Asia-Pacific Tourism Market Size (2018-2023)
6.4 Latin America And Caribbean Tourism Market Size (2018-2023)
6.5 Middle East And North Africa Tourism Market Size (2018-2023)
6.6 Africa Tourism Market Size (2018-2023)
7. Wellness Tourism Market Competitve Landscape
7.1 Mergers And Acquisitions, Joint Ventures, Collaborations, And Agreements
7.2 Market Concentration Overview
7.3 Strategies Adopted By Major Players
8. Wellness Tourism Market Company Profiles (Overview, Financials**, Products And Services, Recent Developments, And Analyst View)
8.1 Intercontinental Group
8.2 Marriott International
8.3 Hilton Worldwide
8.4 Accor Hotels
8.5 Wyndham Hotels & Resorts
8.6 Hyatt Hotels
8.7 Red Carnation Hotels
8.8 Radisson Hospitality
8.9 Home Inns Group
8.10 Choice Hotels International
8.11 Jinjiang International
8.12 Rosewood Hotels
*List Not Exhaustive
9. Other Companies Covered In The Report Include
Red Lion Hotels Corporation, Aro Ha, Canyon Ranch, Grail Springs, Kamalaya Koh Samui Co. Ltd, Shangri-La Hotels And Resorts
10. Appendix
11. Disclaimer
**Subject To Availability On Public Domain

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Intercontinental Group

  • Marriott International

  • Hilton Worldwide

  • Accor Hotels

  • Wyndham Hotels & Resort

  • Hyatt Hotels

  • Red Carnation Hotels

  • Radisson Hospitality

  • Home Inns Group

  • Choice Hotels International

  • Jinjiang International

  • Rosewood Hotels