Wellness Tourism Market Size Worth $1.02 Trillion By 2030

The global Wellness Tourism Market size is expected to reach USD 1.02 trillion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.93% from 2022 to 2030. Increasing patient awareness regarding health and wellbeing and personal care will be one of the major drivers for the market. Promotional campaigns arranged by various governments are also encouraging wellness tourism across the globe. Wellbeing services offered by players help customers find solutions to improve or maintain their health and wellbeing. The rising number of health-conscious people is contributing to the increasing demand for wellness activities at popular travel destinations.

The increase in lifestyle-related diseases such as diabetes, obesity, and high cholesterol due to busy work schedules and sedentary lifestyles is propelling the market growth. The market is heavily influenced by factors such as increasing awareness regarding healthcare tourism and the rising burden of disease. Furthermore, the growing prevalence of mental illnesses such as depression and anxiety, rise in disposable income, increasing adoption of online travel services, growing influence of social media, and raised government investment to attract tourists are propelling the market growth.

The overall tourism industry was adversely hit by the COVID-19 pandemic. The market witnessed a significant decline in the number of travelers owing to restrictions on travel and the entry of international tourists. According to Global Wellness Institute, the number of wellness trips in North America declined by 43.8% in 2020. Increasing number of secondary travelers and resume of activities by spas and resorts are expected to boost the market growth post-pandemic.

Related Press Release@ Wellness Tourism Market Report

Wellness Tourism Market Report Highlights

  • In terms of service, the lodging segment dominated the market in 2021. This can be attributed to the rapid expansion of large hotel chains that provide exotic therapies including rejuvenation programs, spa treatments, and other services
  • Based on travel type, the domestic segment accounted for the maximum revenue share in 2021. This can be attributed to the increased expenditure by domestic tourists on wellness activities
  • North America is estimated to dominate the market throughout the forecast period. This can be attributed to the high demand for physical and mental health, increasing disposable income, and growing awareness about spa benefits
  • Marriott International, Inc. established an all-inclusive platform in August 2019 to cater to the growing demand during the holiday season. Marriott International also announced that it has secured management agreements with hotel developers who aim to invest over USD 800 million in five new all-inclusive resorts, underscoring its confidence in its size and client base
  • Marriott International launched a hotel development program named “Marriott’s Bridging the Gap” in June 2022

Comments are closed