The wellness tourism sector—which was decimated by the impact of the COVID-19 pandemic in 2020, like virtually every facet of the travel business—is enjoying a massive rebound, according to a recent report from the leading research and educational resource for the global wellness industry.
Despite the lingering impact of the COVID-19 pandemic on the global travel industry, wellness … [+]
The December 2021 report from the Global Wellness Institute (GWI) offers a comprehensive look at the global wellness economy—which it estimates at $4.4 trillion in 2020—following the onset of the pandemic, and analyzes the future of wellness spending by sector.
While the global wellness tourism market fell from $720.4 billion to $435.7 billion—a whopping 39.5%—between 2019 and 2020 (versus 43% for all tourism), it’s bouncing back with astonishing gusto.
GWI forecasts the average annual growth rate of wellness tourism at 20.9% from 2020-2025—outpacing the trajectory of every other sector of the wellness economy (including personal care & beauty, spas, and wellness real estate, to name just a few). Notably, the expansion of the entire wellness economy is tracking to surpass that of global GDP to the tune of 9.9% vs. 7.3% respectively over the same period, according to the report.
According to a recent American Express survey, 55% of those polled said they’re willing to pay extra … [+]
This outlook is especially rosy for a hospitality industry that’s increasingly wellness-minded. GWI notes that both domestic and international wellness travelers have especially deep pockets, even during the pandemic. In 2020, international wellness tourists spent $1,601 per trip on average, 35% more than the typical international tourist. The premium for domestic wellness tourists is even higher: $619 per trip, or 177% more than the usual domestic tourist.
“Wellness travelers are typically more affluent, educated, and well-traveled, and they’re willing to spend more on travel experiences, services, and amenities that support their health and well-being,” the report says.
GWI’s findings are widely supported. According to a recent survey from American Express, 78% of respondents said they’re working on more goals tied to health and wellness than in previous years, while 76% agree they want to spend more on travel to improve their well-being—and 55% said they’d be willing to pay extra for wellness activities on future vacations.
‘This too shall pass away’ this famous Persian adage seems to be defeating us again and again in the case of COVID-19. Despite every effort