The Wellness Tourism by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Wellness Tourism, The wellness tourism market size has grown rapidly in recent years. It will grow from $810.14 billion in 2023 to $904.1 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to increasing tourist spending on cultural and sports tourism, strong economic growth in emerging markets, rising disposable income, aging population and early retirement and rapid urbanization.
The wellness tourism market size is expected to see rapid growth in the next few years. It will grow to $1369.22 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to increasing tourist spending on cultural and sports tourism, strong economic growth in emerging markets, rising disposable income, aging population and early retirement and rapid urbanization. Major trends in the forecast period include increasing tourist spending on cultural and sports tourism, strong economic growth in emerging markets, rising disposable income, aging population and early retirement and rapid urbanization.
The increase in tourist spending on cultural and sports tourism is expected to propel the growth of the wellness tourism market going forward. Sports tourism refers to travel that involves both observing and participating in a sporting event while staying in the tourist’s usual environment. Cultural and sports tourism is a part of wellness tourism, which helps in promoting health and well-being. For instance, according to a survey conducted by American Express, a US-based credit card company, in the year 2021, nearly 76% of the people participating in service are spending on tourism to improve their well-being. Also, 55% of the participants are paying extra money for wellness activities on their vacations. Therefore, increasing tourist spending is driving the growth of the wellness tourism market.
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The wellness tourism market covered in this report is segmented –
1) By Service Type: Transport, Lodging, Food And Beverage, Shopping, Activities and Excursions, Other Services
2) By Travellers: Primary, Secondary
3) By Location: Domestic, International
New technological innovations have emerged as the key trend gaining popularity in the wellness tourism market. Major companies operating in the wellness tourism sector are focused on introducing new technologies to sustain their position in the market. For instance, in April 2021, Atmantan Wellness Centre, an India-based wellness tourism provider, launched Atmantan Naturals, a new wellness-tech platform with telehealth portal technology. This wellness center offers reversal treatments for diseases and cultivates natural herbal supplements with excellent efficiency. And also, an individual has access to various virtual consultations with various doctors and physicians with the help of telehealth portals at any time.
The wellness tourism market report table of contents includes:
1. Executive Summary
2. Wellness Tourism Market Characteristics
3. Wellness Tourism Market Trends And Strategies
4. Wellness Tourism Market – Macro Economic Scenario
5. Global Wellness Tourism Market Size and Growth
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26. South America Wellness Tourism Market
27. Brazil Wellness Tourism Market
28. Middle East Wellness Tourism Market
29. Africa Wellness Tourism Market
30. Wellness Tourism Market Competitive Landscape And Company Profiles
Top Major Players:
- Hilton Worldwide
- Marriott International Inc
- Four Seasons Hotels Ltd
- Accor S.A
- Hyatt Hotels Corporation
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