Wellness Tourism Market Overview
According to Maximize Market Research, a renowned global business research and consultancy firm, the total global market for the "Wellness Tourism Market" is anticipated to reach US$ 1192.9 Bn. by 2029 from US$ 733 Bn. in 2022 at a CAGR of 7.2% during a forecast period. This growth is attributed to various factors such as technological advancements, increasing demand for the product/service, expanding market penetration, and favourable industry trends.
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Driving Forces Behind Wellness Tourism
Fighting Lifestyle-Related Illnesses
In today's fast-paced world, lifestyle-related diseases like diabetes, obesity, and high cholesterol have become all too common. Blame it on hectic work schedules, sedentary lifestyles, or the constant hustle and bustle. Wellness tourism steps in as the answer to these modern-day problems, offering solace and a path to a healthier life.
The Rise of Spa Therapies and Holistic Treatments
Spa therapies and soothing treatments are more than just indulgences; they're essential for maintaining our physical, psychological, and spiritual well-being. The demand for revitalizing meditation, invigorating exercises, traditional remedies, and nutritious cuisine is surging. This has a profound impact on the global wellness tourism market, making it one of the most sought-after segments in travel.
Wellness Tourism Market Regional Insights
North America: The Holistic Haven
North America holds a substantial 38% revenue share in the wellness tourism market. This is due to the presence of major industry players and the growing awareness of holistic health therapies in the region. The United States and Canada are significant domestic markets for wellness tourism in North America.
COVID-19's Impact on Wellness Tourism
The travel and tourism industry took a hit, and wellness tourism was no exception. Travel restrictions, both domestic and international, along with the temporary closure of facilities like spas and restaurants, led to a temporary slowdown in the market. But the spirit of wellness tourism is resilient, and it's poised for a robust resurgence.
Wellness Tourism Market Segmentation
by Service
In-country Transport
Lodging
Food & Beverage
Wellness Activities
Shopping
Others
by Travel
Primary
Secondary
by Travel Type
Domestic
International
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Wellness Tourism Market Key Players
1. Four Seasons Hotels Limited
2. KPJ Healthcare Berhad
3. Hyatt Hotels Corporation
4. Marriott International, Inc
5. Hilton Worldwide
6. VLCC Health Care Limited
7. PRAVASSA
8. Canyon Ranch
9. Rancho La Puerta Inc
10. Accor
11. Hyatt Corporation
12. Red Carnation Hotels
13. InterContinental Hotels Group
14. Marriott
15. Miraval Resort & Spa
Table of content for the Wellness Tourism Market includes:
Part 01: Executive Summary
Part 02: Scope of the Wellness Tourism Market Report
Part 03: Global Wellness Tourism Market Landscape
Part 04: Global Wellness Tourism Market Sizing
Part 05: Global Wellness Tourism Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
Key questions answered in the Wellness Tourism Market are:
- What is Wellness Tourism ?
- What was the Wellness Tourism market size in 2022?
- What are the different segments of the Wellness Tourism Market?
- What growth strategies are the players considering to increase their presence in Wellness Tourism ?
- What are the upcoming industry applications and trends for the Wellness Tourism Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Wellness Tourism Market?
- Who are the key players in the Wellness Tourism market?
- What major challenges could the Wellness Tourism Market face in the future?
- What segments are covered in the Wellness Tourism Market?
- Who are the leading companies and what are their portfolios in Wellness Tourism Market?
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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