The International Spa Association (ISPA) has released its annual findings of spa industry financial indicators, reporting that the industry continues to experience steady growth with increases in overall revenue, locations, number of spa visits, and revenue per visit.

Total revenue passed the US$16bn (€14bn, £12bn) mark in 2015, increasing from US$15.5 billion (€13.9bn, £11.6bn) in 2014 to $16.3bn (€14.6bn, £12.2bn) in 2015 – a 5 per cent increase. That figure is expected to mushroom to US$20bn (€17.9bn, £15bn) by 2020.

The increase in spa revenue was driven by growth in the number of spa visits, estimated to have increased to 179 million in 2015, up from 176 million in 2014 – a 2.1 per cent increase.

Additionally, there was growth in average revenue per visit, increasing from US$88 (€79, £66) in 2014 to $91 (€81, £68) in 2015 – a 2.9 per cent increase.

“Our annual spa industry study has shown revenue growth each of the past five years providing strong indicators of the continued future success of the spa industry,” said ISPA president Lynne McNees. “We are excited to share that both the number of spa locations and full-time employees in the United States increased in 2015, making a significant contribution to the overall economy.”

PricewaterhouseCoopers (PwC) was commissioned by ISPA to conduct the study, which presents what is known as the “Big Five”: total revenue, spa visits, spa locations, revenue per visit, and number of employees for the United States spa industry.

“The figures are clear; it's all-time record revenues, breaking the US$16 billion barrier,” said Colin McIlheney, global research director for PwC. “The next big landmark, which I think is achievable by 2020, is the iconic US$20 billion figure.”

The complete study will be released at the 2016 ISPA Conference & Expo on September 13.