NEWS
GWI report shows wellness sector is booming
POSTED 10 Oct 2018 . BY Andy Knaggs
The wellness economy is growing twice as quickly as general global economic growth, according to a new Global Wellness Economy Monitor report from the Global Wellness Institute (GWI).

The report shows that the wellness market grew by 12.8 per cent over the last two years – an annual increase of 6.4 per cent, as compared to a 3.6 per cent rate of global economic growth.

The market was worth US$4.2tn (€3.6tn, £3.2tn) in 2017, which represents more than half of all global health expenditures (US$7.3tn (€6.3tn, £5.5tn) and the wellness sector now represents 5.3 per cent of global economic output.

Such rates of growth strongly suggest wellness is becoming increasingly essential in people’s lives, rather than an occasional indulgence.

Breaking down the wellness economy into ten different sectors, the report goes on to establish revenue growth rates for each of these, with the spa economy (which includes facilities, education, consulting, associations, media and events) leading the way at 9.8 per cent growth (US$98.6bn (€85.6bn) in 2015; US$118.8bn (€103.2bn, £90.1bn) in 2017). Wellness Tourism and Wellness Real Estate have achieved revenue growth rates of 6.5 per cent and 6.4 per cent respectively.

Of the other seven sectors, six have recorded growth rates between 3.7 per cent and 4.9 per cent (personal care, beauty and anti-aging; healthy eating, nutrition and weight loss; fitness and mind-body; preventive and personalised medicine and public health; thermal/mineral springs; workplace wellness).

The seventh – traditional and complementary medicine – has been subject to a change in definition during the course of the period studied, with the likes of Ayurveda and Traditional Chinese Medicine added, so a formal growth rate can’t be provided. It is, however, a sector that was worth US$359.7bn (€312.4bn, £272.9bn) in 2017.

Looking ahead, the report predicts continued strong growth for wellness across all sectors, with projected growth rates as high as 8 per cent in specific fields between 2017 and 2022.

"The wellness market isn’t just growing, it’s extremely dynamic," said Ophelia Yeung, senior research fellow at GWI. "We believe that the three sectors that represent the core spheres of life will see the strongest growth - wellness real estate, workplace wellness and wellness tourism - while other sectors will also grow as they support the integration of wellness into all aspects of daily life. And wellness markets will become less siloed and more interconnected, converging to offer solutions and experiences in the places where people live, work and travel."

The full report is accessible here
RELATED STORIES
Global Wellness Institute to release in-depth analysis on global wellness economy


The Global Wellness Institute will release an in-depth update of its Global Wellness Economy Monitor at this year’s Global Wellness Summit, taking place at Technogym Village, Cesena, Italy, 6-8 October.
Tonia Callender joins Global Wellness Institute


Research expert Tonia Callender has joined the nonprofit Global Wellness Institute (GWI) as a research fellow. In the newly created position, Callender will work alongside senior research fellows Katherine Johnston and Ophelia Yeung on the new research underway at the GWI, analysing diverse markets within the nearly $US4tr global wellness industry.
GWI launches monthly virtual think tank series


The Global Wellness Institute (GWI) has launched access+INSIGHTS, a new series of monthly virtual video explorations of the most relevant topics impacting the US$3.7tr global wellness economy.
 


CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2019

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
 
Spa Opportunities: - GWI report shows wellness sector is booming...
Sign up for FREE ezine
Spa Jobs spa Industry News spa training spa oppportunities magazine spa opportunities blog spa-kit.net spa industry products Submit your news Advertise on Spa Opportunities Contact us at Leisure Media Follow us on Twitter Like us on Facebook

Jobs Search






diarydates

  Powered by leisurediary.com
06-07 Jul 2019
In Your Element Festival
Monte-Carlo, Monaco
08 Jul 2019
Salon Life Beauty Convention
ILEC Conference Centre, London, United Kingdom

spa-kit
suppliers news


Aromatherapy Associates x Aera collection encourages users to be at one with nature

Aromatherapy Associates has partnered with Aera, an innovator in scent and microdroplet technology, to create a series of fragrance capsules.

beauty-kit


Crown overhaul changing rooms at Saunton Sands spa
Saunton Sands Hotel in Devon, UK, has completed a £2m expansion of its spa and wellness facilities.


 
latest spa jobs
Spa Therapist
The Bulgari Hotel London
Salary: Competitive Salary & Benefits
Job location: London, UK More>>
 


Spa Attendant
The Bulgari Hotel London
Salary: Competitive Salary & Benefits
Job location: London, UK More>>
 


Hair Specialist
Urban Retreat
Salary: Competitive
Job location: Knightsbridge, London, UK More>>
 


Laser / Aesthetics & Waxing Therapists

Strip Wax Bar & Boutique

Salary: Competitive + Commission
Job location:
Central London, London, UK More>>
Spa Therapists

Brandshatch Place Hotel and Spa

Salary: Competitive salary plus benefits
Job location:
Fawkham, UK More>>
Spa Therapists

Brandshatch Place Hotel and Spa

Salary: Competitive salary plus benefits
Job location:
Fawsley, Daventry, UK More>>
Spa Therapists

Grand Jersey Hotel and Spa

Salary: Competitive salary plus benefits
Job location:
St Helier, Jersey More>>
Spa Therapists

New Hall Hotel and Spa

Salary: Competitive salary plus benefits
Job location:
Sutton Coldfield, UK More>>
Spa Therapists

Norton House Hotel and Spa

Salary: Competitive salary plus benefits
Job location:
Ingliston, Edinburgh, UK More>>
Spa Therapists

Nutfield Priory Hotel and Spa

Salary: Competitive salary plus benefits
Job location:
Redhill, Surrey, UK More>>
Spa Therapists

Rhinefield House Hotel

Salary: Competitive salary plus benefits
Job location:
Brockenhurst, Hampshire, UK More>>
Spa Therapists

Rookery Hall Hotel and Spa

Salary: Competitive salary plus benefits
Job location:
Nantwich, UK More>>
Spa Therapists

Wood Hall Hotel and Spa

Salary: Competitive salary plus benefits
Job location:
Wetherby, West Yorkshire, UK More>>
Spa Therapists

Wood Hall Hotel and Spa

Salary: Competitive salary plus benefits
Job location:
Wetherby, West Yorkshire, UK More>>
Spa Therapists

St Pierre Park Hotel and Golf Resort

Salary: Competitive salary plus benefits
Job location:
Guernsey More>>
Spa Therapists

Rookery Hall Hotel and Spa

Salary: Competitive salary plus benefits
Job location:
Nantwich, UK More>>
Spa Therapists

Rhinefield House Hotel

Salary: Competitive salary plus benefits
Job location:
Brockenhurst, Hampshire, UK More>>
Spa Therapist

Nutfield Priory Hotel and Spa

Salary: Competitive salary plus benefits
Job location:
Redhill, Surrey, UK More>>
Spa Therapists

Norton House Hotel and Spa

Salary: Competitive salary plus benefits
Job location:
Ingliston, Edinburgh, UK More>>
Spa Therapists

L'Horizon Beach Hotel and Spa

Salary: Competitive salary plus benefits
Job location:
Jersey More>>
Beauty Supervisor

Hilton Hotels

Salary: Competitive Salary plus benefits
Job location:
Arundel, UK More>>
Beauty Therapist

Hilton Hotels

Salary: Competitive Salary plus benefits
Job location:
Arundel, UK More>>
Area Manager

Strip Wax Bar

Salary: Competitive salary - dependant upon experience
Job location:
Central London, London, UK More>>

Jobs page: 1


 
latest spa news

10 Oct 2018

GWI report shows wellness sector is booming

BY Andy Knaggs

Katherine Johnson and Ophelia Yeung presented the new report at this year's Global Wellness Summit in Italy on

The wellness economy is growing twice as quickly as general global economic growth, according to a new Global Wellness Economy Monitor report from the Global Wellness Institute (GWI).


The report shows that the wellness market grew by 12.8 per cent over the last two years – an annual increase of 6.4 per cent, as compared to a 3.6 per cent rate of global economic growth.

The market was worth US$4.2tn (€3.6tn, £3.2tn) in 2017, which represents more than half of all global health expenditures (US$7.3tn (€6.3tn, £5.5tn) and the wellness sector now represents 5.3 per cent of global economic output.

Such rates of growth strongly suggest wellness is becoming increasingly essential in people’s lives, rather than an occasional indulgence.

Breaking down the wellness economy into ten different sectors, the report goes on to establish revenue growth rates for each of these, with the spa economy (which includes facilities, education, consulting, associations, media and events) leading the way at 9.8 per cent growth (US$98.6bn (€85.6bn) in 2015; US$118.8bn (€103.2bn, £90.1bn) in 2017). Wellness Tourism and Wellness Real Estate have achieved revenue growth rates of 6.5 per cent and 6.4 per cent respectively.

Of the other seven sectors, six have recorded growth rates between 3.7 per cent and 4.9 per cent (personal care, beauty and anti-aging; healthy eating, nutrition and weight loss; fitness and mind-body; preventive and personalised medicine and public health; thermal/mineral springs; workplace wellness).

The seventh – traditional and complementary medicine – has been subject to a change in definition during the course of the period studied, with the likes of Ayurveda and Traditional Chinese Medicine added, so a formal growth rate can’t be provided. It is, however, a sector that was worth US$359.7bn (€312.4bn, £272.9bn) in 2017.

Looking ahead, the report predicts continued strong growth for wellness across all sectors, with projected growth rates as high as 8 per cent in specific fields between 2017 and 2022.

"The wellness market isn’t just growing, it’s extremely dynamic," said Ophelia Yeung, senior research fellow at GWI. "We believe that the three sectors that represent the core spheres of life will see the strongest growth - wellness real estate, workplace wellness and wellness tourism - while other sectors will also grow as they support the integration of wellness into all aspects of daily life. And wellness markets will become less siloed and more interconnected, converging to offer solutions and experiences in the places where people live, work and travel."

The full report is accessible here



Connect with
Spa Opportunities
Magazine:
View latest issue
Sign up:
Instant Alerts/zines

Print edition
 

Piscina & Wellness Barcelona announces competition to build seaside aquatic centre
GOCO Hospitality to create advanced medical wellness destination in Kazakhstan
Glamping resort Shinta Mani Wild opens luxury spa
Okura Tokyo to bring Annayake brand to Japan with new 27th floor spa
Lotte New York Palace to be home to first American ila Spa
Wellness Tourism Association introduces new "WTA Annual Award"
 
Catalogue gallery



Featured supplier




Invest in your employees – and your company – with FH Joanneum’s MBA in spa management

The FH Joanneum University of Applied Sciences offers a unique MBA programme in International Hospitality and Spa Management, and for the first time, is offering substantial financial grants for students who begin the course this year.


Company profile



Focus Training is a leading provider of Active IQ and YMCA Awards certified Personal Trainer courses. Flexible learning with full and part time courses available at venues across the UK.
View full profile>>

spa directory

Spa equipment and treatment products

Consultancy & management

Linen

Skincare

Consultancy & management

Spa marketing

Spa and beauty equipment

Design and installation

Skincare



Published by The Leisure Media Company Ltd Portmill House, Portmill Lane, Hitchin, Herts SG5 1DJ. Tel: +44 (0)1462 431385 | Contact us | About us | © Cybertrek Ltd