Wellness Tourism Market Size 2022 COVID-19 Impact Analysis by Business Opportunities, Emerging Trends, Future Outlook and Forecast Report 2032: SPER Market Research
According to SPER Market Research, the Wellness Tourism Market is estimated to reach USD 2687.9 billion by 2032 with a CAGR of 12.68%. The term “wellness tourism” refers to travel experiences that enhance and improve one’s physical, mental, and spiritual wellbeing. Visitors to hot spring resorts and practitioners of yoga, spa treatments, meditation, and Pilates engage in physical, spiritual, and mental activities. Interacting with locals at a destination who have travelled and experienced various cultures encourages personal wellbeing. Wellness tourism prioritizes disease prevention as opposed to medical tourism. It focuses on leading a healthy lifestyle and raising one’s standard of living. Contrarily, medical tourism involves the treatment of a pre-existing condition. A proactive approach to wellness will help you stay healthy. The demand for various well-being services has increased as more tourists visit different parts of the world. To ensure customer satisfaction, service providers are putting more of an emphasis on providing spa therapies and other activities.
Wellness Tourism Market Overview (2022-2032)
- Forecast CAGR (2022-2032): 12.68%
- Forecast Market Size (2032): 2687.9 billion
Nearly every consumer category has been affected by the COVID-19 epidemic, which has also changed consumer behaviour, killed off entire companies, and spurred growth in other areas, including some areas of the health industry. The emergence of telemedicine, at-home exercise equipment, and digital therapy has fuelled the expansion of the wellness tourism industry during the epidemic. Throughout the pandemic, the major players in industries like telemedicine and home fitness have made considerable strides, influencing consumer behavior and the future of the wellness industry.
Impact of COVID-19 on the Wellness Tourism Market
The COVID-19 epidemic had a significant effect on the industry. International travel restrictions, orders for delivery to customers’ homes, and company closures are the main causes of the market’s downturn. Several nations restricted travel and outlawed foreign flights. The number of tourists drastically decreased as a result of this. Businesses have closed, people have lost their jobs, there have been layoffs, and consumer spending power has decreased as a result of the abrupt global economic slowdown. People were discouraged from visiting abroad as a result of this and their fear of illness.
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Wellness Tourism Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Accor, Four Seasons Hotels Limited, Hilton, Hyatt Corporation, InterContinental Hotels Group, Marriot International, Inc., Niraamaya Wellness Retreat, Omni Hotels & Resorts, Radisson Hospitality, Rancho La Puerta, Inc., Rosewood Hotel Group.
Wellness Tourism Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
- Food & Beverage
- In-country Transport
- Wellness Activities
By Travel Purpose:
By Travel Type:
- Middle East & Africa
- North America
- Latin America
The U.S. is by far the largest national market and generates more than one-third of all wellness tourism earnings worldwide. The demand for wellness tourism in North America is significantly influenced by people’s high levels of knowledge about holistic health therapies and their high levels of disposable income, which promote health-related travel.
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Wellness Tourism Market Future Outlook
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Sara Lopes, Business Consultant – U.S.A.
SPER Market Research