Wellness Tourism Market Size to Surpass US$ 1,672.6 Bn by – GlobeNewswire

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New York, Oct. 06, 2021 (GLOBE NEWSWIRE) — New York, Oct 06, 2021 (GLOBE NEWSWIRE) – Wellness tourism refers to the tourism undertaken for indulging in wellness activities such as yoga and meditation retreats, spa treatment, Ayurveda treatment, agricultural tourism, shopping, and spiritual activities to name a few. The growing cases of various physical and mental diseases, rising prevalence of stress, depression, and anxiety, and unhealthy habits among the population are the primary drivers of the global wellness tourism market. The wellness tourism is intended to prevent physical and mental illness by encouraging wellness and healthy lifestyle. The rapid growth of the middle class and increasing desire for active and healthy lifestyle are fueling the demand for wellness tourism across the globe. Moreover, easy availability of online tickets and availability of huge number of service providers is positively impacting the market growth.

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Crucial factors accountable for market growth are:
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Regional Snapshots
Based on the region, the North America dominated the global wellness tourism market in 2020, in terms North America is the dominating wellness tourism market. The US alone attracts more than 33% of the global wellness tourism expenditure. The aggressive marketing by the top players regarding the importance of physical and psychological wellness being attained through yoga, rejuvenation therapies, herbal treatment, meditation, agricultural tourism, and spa therapies in an exotic destination is a major factor that shaped the wellness tourism market in North America. The basic idea was to make people aware that visiting to a foreign place and attaining various local therapies is beneficial for mental and physical health. This idea was well supported by the rising disposable income of the consumers, demand for healthy and active lifestyle, and increased consumer expenditure on health and wellness.
Asia Pacific is estimated to be the fastest-growing wellness tourism market owing to the growing popularity of various exotic destinations in Asia Pacific such as China, mountain ranges of India, Malaysia, and Singapore. Moreover, the growing penetration of hotel chains equipped with wellness centers to provide massages, spa treatments, herbal treatments, and rejuvenation programs have positively impacted the market growth in this region.
Report Highlights
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Drivers
According to the Global Wellness Institute, in 2017, the total number of domestic and international wellness trips accounted for around 17% of the global tourism expenditure. This implies that tourists are increasingly participating in wellness activities while they travel to domestic and international destinations. The sedentary lifestyle of the consumers, busy and hectic lifestyle, and unhealthy habits have resulted in a decreased physical activity, which give rise to a number of physical and mental issues. Therefore, tourists tend to participate in physical, psychological, and spiritual wellness activities during their vacations. This factor is significantly driving the growth of the global wellness tourism market.
Restraints
There are certain restraining factors to the wellness tourism market. The lack of awareness about wellness tourism, low income population in developing and underdeveloped nations, and political unrest in several nations are few of the major constraining factors that may hamper the growth of the wellness tourism market.
Opportunities
The growing technological advancements in tourism industry is expected to offer growth opportunities. For instance, use of augmented reality (AR) and virtual reality (VR) by the top hotels for providing a virtual tour to their customers before booking rooms and use of robots for carrying and handling the guests’ luggage in hotels are the latest developments in the tourism industry that is expected to change the face of online hotel bookings.
Challenges
The major challenges encountered by the wellness tourism industry include threat of terrorist attacks, outbreak of pandemic, and bad geopolitical relations between countries. These are the various challenges that are not under the control of the tourism industry and these factors might harm the growth of the market significantly.
Recent Developments
The key players includes in the wellness tourism market are Hilton Worldwide, Accor Hotels, Four Seasons Hotels, Radisson Hospitality, Marriot International, Hyatt Hotels, Rosewood Hotels, InterContinental Group, Rancho La Puerta, Inc., PRAVASSA, Omni Hotels & Resorts.
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