According to the report, the global wellness tourism market size was valued at approximately USD 682.3 Billion in 2018, and is expected to generate revenue of around USD 1,131.5 Billion by end of 2025, growing at a CAGR of around 7.6% between 2019 and 2025.
Wellness Tourism Market Overview
The report covers forecast and analysis for the wellness tourism market on a global and regional level. The study provides historic data from 2016 along with a forecast from 2019 to 2025 based on revenue (USD Billion). The study includes drivers and restraints for the wellness tourism market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the wellness tourism market on a global as well as regional level.
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In order to give the users of this report a comprehensive view on the wellness tourism market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein Service and services segment is benchmarked based on their market size, growth rate and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the wellness tourism market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new Service launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the wellness tourism market on global and regional basis.
Wellness tourism is movement for promoting health and well-being with the help of psychological, physical, or spiritual activities. Wellness tourism differs from medical tourism. Wellness tourism is carried out for prevention, whereas medical tourism is undertaken for treatment of an already existing disorder. The trend of wellness tourism is growing in the middle class worldwide due to emergence of affordable travel options.
Factors such as growing number of tourists, increased spending on travel and tourism, growing prevalence of lifestyle related disorders such as diabetes and cardiovascular disorders, attractive offers from leading hotel chains, growing preference for online booking, and rise of middle class worldwide will act as major driving factors in the growth of global wellness tourism market. Sedentary lifestyle and increasing disposable income will present an opportunity for the market players in the wellness tourism market. Nonetheless, high cost and lack of proper facilities will restrict the growth of global wellness tourism market.
Wellness Tourism Market Segmentation
The global wellness tourism market has been split into service, travel type, and region. Based on service, wellness tourism market has been segmented into lodging, in-country transport, wellness activities, food & beverage, and others. The lodging segment accounted for the highest market share in 2018 owing to growing number of tourists and increasing popularity of online booking sites. The travel type segment has been divided into international and domestic. The international segment is expected to exhibit highest CAGR during the forecast period.
Wellness Tourism Market Key Players
North America will be the leading region during the forecast period. U.S. accounted for the highest share in the North America region due to high disposable income, availability of multiple travel options, and increased trend of online booking. Europe will be the next key market. The crucial reasons are high obesity rates and ease of travel within the continent. Asia Pacific will develop at the highest growth rate owing to increasing trend of wellness tourism and rise of middle class. Latin America region will proliferate at a remarkable rate through the projected time. Middle East & Africa region will display positive development in the projected time-frame.
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Wellness Tourism Market Key Players
The report also includes detailed profiles of key players such as:
- Hilton Worldwide
- InterContinental Group
- Accor Hotels
- Rosewood Hotels
- Hyatt Hotels
- Radisson Hospitality
- Marriot International
This report segments the Global Wellness Tourism Market as follows:
Global Wellness Tourism Market: By Service
- In-country Transport
- Wellness Activities
- Food & Beverage
Global Wellness Tourism Market: By Travel Type
Global Wellness Tourism Market: By Region
- North AmericaU.S.
- Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- Middle East and Africa
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