Global Wellness Industry Growing at Impressive Pace
The Global Wellness Institute (GWI) has released its 2016 Global Wellness Economy Monitor, which measures and analyzes the markets that make up the global wellness industry. According to their data, while the global economy shrank 3.6 percent, the worldwide wellness industry grew 10.6 percent, to $3.72 trillion, from 2013-2015.
"The growth trajectory of the wellness industry appears unstoppable," said the GWI's senior researchers, Katherine Johnston and Ophelia Yeung. "And the report contains a wealth of data on regional markets: from the top 20 national markets for wellness travel, spa, and workplace wellness to how fast key markets will grow through 2020 to the first regional data on the emerging wellness real estate category."
When it comes to national wellness industries, the U.S. reigns supreme. GWI reported that the U.S. ranked number one among nations for revenues in four markets: wellness tourism, the spa industry, workplace wellness, and wellness real estate.
The U.S. tops in wellness travel, generating $202.2 billion (36 percent) of the annual worldwide market, which is three times more than the second largest market, Germany, at $60.2 billion. Wellness trips in the U.S. jumped from 141.4 million in 2013 to 161.2 million in 2015, and revenues grew 5.8 percent each year.
The spa market in the U.S. is twice as big as its next closest competitor, China, and now accounts for roughly one-quarter of the world's spa revenues. In 2015, it generated $18.7 billion in revenue. China's spa market generated $7 billion and Germany's $5.95 billion.
Globally, workplace wellness has grown to a $43.3 billion market as unwell workers now cost the world's economy 10 to 15 percent in output.
The U.S. represents one-third of workplace wellness spend worldwide, which is growing at a 6.7 percent annual rate because American healthcare is typically provided by employers who have powerful incentives to slash their costs and boost productivity. Employers spend $14.4 billion annually, four times more than the next largest markets. Japan spends $3.4 billion and Germany $3.1 billion.
The emerging market of wellness real estate -- homes and communities expressly designed for residents' physical, mental, social, and environmental heath -- is the third-fastest growing wellness market in the world, expanding from $100 billion to $119 billion from 2013-2015.
Reported by: successfulMeetings.com
"The growth trajectory of the wellness industry appears unstoppable," said the GWI's senior researchers, Katherine Johnston and Ophelia Yeung. "And the report contains a wealth of data on regional markets: from the top 20 national markets for wellness travel, spa, and workplace wellness to how fast key markets will grow through 2020 to the first regional data on the emerging wellness real estate category."
When it comes to national wellness industries, the U.S. reigns supreme. GWI reported that the U.S. ranked number one among nations for revenues in four markets: wellness tourism, the spa industry, workplace wellness, and wellness real estate.
The U.S. tops in wellness travel, generating $202.2 billion (36 percent) of the annual worldwide market, which is three times more than the second largest market, Germany, at $60.2 billion. Wellness trips in the U.S. jumped from 141.4 million in 2013 to 161.2 million in 2015, and revenues grew 5.8 percent each year.
The spa market in the U.S. is twice as big as its next closest competitor, China, and now accounts for roughly one-quarter of the world's spa revenues. In 2015, it generated $18.7 billion in revenue. China's spa market generated $7 billion and Germany's $5.95 billion.
Globally, workplace wellness has grown to a $43.3 billion market as unwell workers now cost the world's economy 10 to 15 percent in output.
The U.S. represents one-third of workplace wellness spend worldwide, which is growing at a 6.7 percent annual rate because American healthcare is typically provided by employers who have powerful incentives to slash their costs and boost productivity. Employers spend $14.4 billion annually, four times more than the next largest markets. Japan spends $3.4 billion and Germany $3.1 billion.
The emerging market of wellness real estate -- homes and communities expressly designed for residents' physical, mental, social, and environmental heath -- is the third-fastest growing wellness market in the world, expanding from $100 billion to $119 billion from 2013-2015.
Reported by: successfulMeetings.com
