Global Wellness Tourism Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Type Of Traveler (Primary Wellness Traveler, Secondary Wellness Traveler), By Location (Domestic, International), By Service (Lodging, In-Country Transport, Food & Beverage, Shopping, Others), By Mode Of Booking (Online, Offline), And By Geography - Forecasts From 2022 To 2027

Published:  Jun 2022 Report Code: KSI061613763 Pages: 120

The global wellness tourism market was valued at US$256.227 billion in 2020. Unlike medical tourism, which involves the treatment of already diagnosed conditions, wellness tourism services focus on the prevention of diseases by emphasizing a healthy lifestyle and improved quality of life. The growth of this market has been driven by the rising middle-class population and the consumer’s desire to adopt a wellness lifestyle. The increasing affordability of flights and travel options is also boosting the number of travelers across the globe, which, in turn, is also fuelling the demand for wellness tourism services worldwide.

According to the Global Wellness Institute, international and domestic wellness trips accounted for 17 percent of total tourism expenditures in 2017. Tourists are increasingly opting for spa therapies and other wellness activities while on a trip to foreign lands. Hectic work schedules and sedentary lifestyles have resulted in a decline in physical activities among people, leading to a rise in lifestyle-related problems.

Governments in various countries are also taking the necessary steps and measures to ramp up the overall growth of the travel and tourism industry, which will also fuel the global wellness tourism market’s growth during the next five years. The Japan National Tourism Organization (JNTO), for example, is promoting wellness tourism in lesser-known places like Beppu and Misgui. Players in the global wellness tourism market are employing a variety of growth tactics in order to increase their market share globally, which will drive the market forward till the conclusion of the forecast period.

COVID-19 Impact on Wellness Tourism Market

However, the recent COVID-19 pandemic outbreak has severely impacted the overall travel and tourism industry, which, in turn, has negatively affected the market growth of wellness tourism. The suspension of international and domestic flights, as well as the temporary closure of facilities such as spas and eateries, to combat the spread of this virus, has stifled the expansion of the wellness tourism industry.

The Global Wellness Tourism market has been segmented on the basis of the type of traveller, location, service, and geography.  The Global Wellness Tourism market has been segmented by type of traveller into two segments: primary wellness travelers and secondary wellness travellers. By location, the market has been segmented as domestic and international. The Global Wellness Tourism market has also been segmented by services such as lodging, in-country transport, food & beverage, shopping, and others. The market segmentation by mode of booking has been done online and offline.

Secondary wellness travelers account for a substantial market share

By type of traveler, the secondary traveler segment accounted for a significant market share in 2019. A secondary traveler is someone who wants to stay healthy whether on vacation or at work. The primary wellness traveler, on the other hand, is the one whose trip is primarily motivated by wellness purposes. An increasing number of people suffering from anxiety and depression are taking trips specifically for wellness services, including spa treatments and wellness activities.  

Asia Pacific to witness the fastest regional market growth

Geographically, the global wellness tourism market has been segmented into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. The Asia Pacific regional market for wellness tourism is poised to grow at the highest CAGR during the forecast period. The booming travel and tourism industry in countries like India, Thailand, and Malaysia are the major drivers of the wellness tourism market in this region.

The presence of global hotel and resort companies in this region along with the continued expansion of the hospitality industry is also contributing to the market growth of wellness tourism in this region. Rising disposable incomes and shifting preference towards wellness activities in order to relax, especially among millennials, are also fueling the growth of this regional market.

Supportive government policies and measures to attract more and more international tourists will continue to spur the market growth of wellness tourism in Asia Pacific during the forecast period. For example, in 2016, a National Medical & Wellness Tourism Promotion Board was introduced in India to promote tourism focusing on wellbeing. The Malaysian Association of Tour and Travel Agents (MATTA) collaborated with the Association of Malaysian Spas (AMSPA) in June 2019 to create favorable conditions for members to promote wellness tourism in Malaysia.

North America holds a significant market share throughout the forecast period on account of high disposable incomes and living standards, which support the high demand for wellness services in the region. Growing concerns regarding anxiety, depression, and obesity are encouraging North American customers to opt for different wellness services, thus positively impacting the overall regional market growth.

Recent Developments:

  • May 2022: With the support of its first national partner, Singapore, the nonprofit Global Wellness Institute (GWI), the foremost research and educational resource for the $4.4 trillion global wellness market, launched the "Geography of Wellness". The new GWI microsite explores a country's wellness economy, creating a clear picture of where it stands in the burgeoning wellness industry and providing a platform for countries to promote their health assets.
  • February 2022: The European Union (EU) Delegation to Sri Lanka has provided financial resources to help build local wellness tourism capabilities in order for Sri Lanka to evolve into an appealing wellness tourism destination. This will take place under the supervision of Sri Lanka Tourism. On February 15, 2022, the 'Sri Lanka Wellness Tourism Stakeholder Project' was formally launched.
  • October 2019: Beauty and wellness firm VLCC Group entered into a strategic partnership with Minor International which owns 523 popular hotel and resort chains under brands such as St. Regis, and Marriott Hotels & Resorts, among others.
  • May 2019: London-based investment firm Centricus acquired the Capri Palace Hotel & Spa.
  • February 2019: InterContinental Hotels Group (IHG®) announced the acquisition of one of the world’s leading operators of luxury hotels, resorts, and spas, Six Senses Hotels Resorts Spas, for $300 million from Pegasus Capital Advisors.

COVID-19 Impact on Global Wellness Tourism Market

COVID-19 negatively impacted the global wellness tourism market. The prime factor influencing the market was the domestic and international travel ban. Further, an increase in the unemployment rate led to a decrease in consumer spending on recreational activities.

Competitive Insights

Prominent key players in the Global Wellness Tourism market include Four Seasons Hotels Limited, PRAVASSA, Canyon Ranch, Rancho La Puerta Inc., Accor, Hyatt Corporation, Red Carnation Hotels, InterContinental Hotels Group, and Hilton. These companies hold a noteworthy share of the market on account of their good brand image and product offerings. Major players in the global wellness tourism market have been covered along with their relative competitive positions and strategies. The report also mentions recent deals and investments by different market players over the last two years.

Global Wellness Tourism Market Scope:

Report Metric Details
 Market size value in 2020  US$256.227 billion
 Growth Rate  CAGR of during the forecast period
 Base year  2020
 Forecast period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments covered  Type of Traveler, Location, Service, Mode of Booking, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Four Seasons Hotels Limited, PRAVASSA, Canyon Ranch, Rancho La Puerta Inc., Accor, Hyatt Corporation, Red Carnation Hotels, InterContinental Hotels Group, Hilton
 Customization scope  Free report customization with purchase

 

Segmentation

  • By Type of Traveler
    • Primary Wellness Traveler
    • Secondary Wellness Traveler
  • By Location
    • Domestic
    • International
  • By Service
    • Lodging
    • In-Country Transport
    • Food & Beverage
    • Shopping
    • Others
  • By Mode  of Booking
    • Online
    • Offline
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Spain
      • Italy
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

Q1. What is the size of the global wellness tourism market?
A1. Global Wellness Tourism market was valued at US$256.227 billion in 2020.

Q2. Who are the major players in the wellness tourism market?
A2. Prominent key market players in the Global Wellness Tourism market include Four Seasons Hotels Limited, PRAVASSA, Canyon Ranch, Rancho La Puerta Inc., Accor, Hyatt Corporation, Red Carnation Hotels, InterContinental Hotels Group, and Hilton. 

Q3. How is the global wellness tourism market segmented?
A3. The wellness tourism market has been segmented on the basis of the type of traveler, location, service, and geography.

Q4. What factors are anticipated to drive the wellness tourism market growth?
A4. The wellness tourism market growth has been driven by the rising middle-class population and the consumer’s desire to adopt a wellness lifestyle. 

Q5. Which region holds the largest market share in the wellness tourism market?
A5. Asia Pacific regional market for wellness tourism is poised to grow at the highest CAGR during the forecast period.

1. INTRODUCTION
1.1. Market Definition
1.2. Market Segmentation

2. RESEARCH METHODOLOGY  
2.1. Research Data
2.2. Assumptions

3. EXECUTIVE SUMMARY
3.1. Research Highlights

4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis

5. GLOBAL WELLNESS TOURISM MARKET ANALYSIS, BY TYPE OF TRAVELER
5.1. Introduction
5.2. Primary Wellness Traveler
5.3. Secondary Wellness Traveler

6. GLOBAL WELLNESS TOURISM MARKET ANALYSIS, BY LOCATION
6.1. Introduction
6.2. Domestic
6.3. International

7. GLOBAL WELLNESS TOURISM MARKET ANALYSIS, BY SERVICE
7.1. Introduction
7.2. Lodging
7.3. In-Country Transport
7.4. Food & Beverage
7.5. Shopping
7.6. Others

8. GLOBAL WELLNESS TOURISM MARKET ANALYSIS, BY MODE OF BOOKING
8.1. Introduction
8.2. Online
8.3. Offline

9. GLOBAL WELLNESS TOURISM MARKET ANALYSIS, BY GEOGRAPHY
9.1. Introduction
9.2. North America
9.2.1. USA
9.2.2. Canada
9.2.3. Mexico
9.3. South America
9.3.1. Brazil
9.3.2. Argentina
9.3.3. Others
9.4. Europe
9.4.1. UK
9.4.2. Germany
9.4.3. France
9.4.4. Spain
9.4.5. Italy
9.4.6. Others
9.5. Middle East and Africa
9.5.1. Saudi Arabia
9.5.2. UAE
9.5.3. Israel
9.5.4. Others
9.6. Asia Pacific
9.6.1. China
9.6.2. Japan
9.6.3. India
9.6.4. South Korea
9.6.5. Taiwan
9.6.6. Thailand
9.6.7. Indonesia
9.6.8. Others

10. COMPETITIVE ENVIRONMENT AND ANALYSIS
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix

11. COMPANY PROFILES
11.1. Four Seasons Hotels Limited
11.2. PRAVASSA
11.3. Canyon Ranch
11.4. Rancho La Puerta Inc.
11.5. Accor
11.6. Hyatt Corporation
11.7. Red Carnation Hotels
11.8. InterContinental Hotels Group
11.9. Hilton

Four Seasons Hotels Limited

PRAVASSA

Canyon Ranch

Rancho La Puerta Inc.

Accor

Hyatt Corporation

Red Carnation Hotels

InterContinental Hotels Group

Hilton

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