Wellness Tourism Market Size to Surpass USD 2,632.08 BN by 2032
The global wellness tourism market size was estimated at USD 815.6 billion in 2022 and is expected to surpass around USD 2,632.08 billion by 2032 and poised to grow at a compound annual growth rate (CAGR) of 12.43% during the forecast period 2023 to 2032.
Key Takeaways:
Wellness Tourism Market Report Scope
| Report Attribute | Details |
| Market Size in 2023 | USD 916.98 Billion |
| Market Size by 2032 | USD 2,632.08 Billion |
| Growth Rate From 2023 to 2032 | CAGR of 12.43% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Service, Travel purpose, Travel type, Region |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Key Companies Profiled | Hilton; Marriott International, Inc.; Accor; Hyatt Corporation; Radisson Hospitality; InterContinental Hotels Group; Rancho La Puerta, Inc.; Omni Hotels & Resorts; Niraamaya Wellness Retreat; Four Seasons Hotels Limited |
Improving patient awareness about health 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 personal health and wellness. The rising number of health-conscious people is contributing to the increasing demand for wellness activities at popular travel destinations.
Wellness tourism includes various activities such as spas, mineral springs, skiing, hiking, Pilates, yoga, and others. In recent years, increasing demand for wellness therapies has resulted in a rise in the number of spas, mineral springs, and wellness retreats. According to the Global Wellness Institute, the number of spa establishments worldwide increased by 7.3% from 149,252 in 2017 to 160,100 in 2020. Furthermore, the number of thermal/mineral spring establishments increased by 352 from 2017 to 2020. This, in turn, has resulted in a rise in employment opportunities. Hence, an increase in the number of spas along with their revenue contribution is expected to drive the market over the forecast period.
With work from anywhere becoming the new normal, people are taking wellness vacations to resorts where they can work while enjoying nature’s beauty. Popular tourism destinations are providing all the facilities to allow working professionals to grow their business prospectus through remote workcations. Countries such as Mexico, Costa Rica, and Bali are building their infrastructure, reputation, and marketing to provide a curated experience for work & travel. Furthermore, the growing prevalence of mental illnesses such as depression and anxiety, rise in disposable income, increasing adoption of online travel services, and growing influence of social media is propelling the market growth.
Moreover, people are now more concerned than ever about their health because of the COVID-19 pandemic. The development of healthy habits remains a top priority, according to research conducted by Mindshare, which found that people's perspectives on their overall health are influenced by the daily assessment of their own health. Sixty-six percent of the global population is now more concerned with their overall health than they were before COVID-19. Furthermore, according to a study conducted by MiQ in collaboration with Sapio Research, over 20% of consumers in the U.S., the U.K., and Australia spent more money on wellness services during the lockdown.
Service Insights
In terms of service, the lodging segment dominated the market with a revenue share of 24.6% in 2022. The increasing penetration of luxury and high-end hotels & resorts in popular tourist destinations is a major contributor to the growth of the lodging segment. Lodging can be found in a tent, caravan or campervan, hotel, motel, hostel, inn, private home (commercial, such as a bed & breakfast, guest house, or vacation rental), or homestay.
The wellness spa demand is being shaped by the ever-changing needs of its customers. Anti-aging products are getting more popular as clients become more social media savvy. The industry is being driven by rising demand for anti-aging skincare treatments. The demand for such services is also being boosted by increased consumer disposable income, particularly in emerging markets.
The wellness activities segment is expected to witness remarkable growth during the forecast period. This can be attributed to the increasing consumer spending on spas, body massages, meditation, yoga, Ayurveda therapy, and others. Furthermore, the in-country transport and food and beverages segment will have significant growth during the projection period due to the increasing emphasis and demand for self-care during the pandemic.
Travel Purpose Insights
Based on travel purpose, the secondary segment held the maximum market share in 2022 and is expected to continue its dominance during the forecast period. Secondary tourism activities include tourists seeking well-being activities when it is not the primary motivation for the trip. In secondary tourism, spa treatments, body experiences, and mind & health activities are added to leisure or business travel. According to GWI, secondary travel accounted for around 93.0% of wellness tourism trips in 2020. This can be attributed to the rising uptake of wellness services during international business meetings.
The primary segment is expected to witness substantial growth in the coming years. More people are incorporating aspects of health, preventive care, self-fulfillment, and mindfulness into their daily lives across the globe. People nowadays like to maintain a fitness routine and a healthy lifestyle even when they travel, which is boosting segment growth.
According to GWI, primary visitors at the domestic level spend almost 178% more than the average traveler. At the international level, they spend 53% more. Hence, the government is focusing on attracting primary travelers to increase their revenue. This is anticipated to boost segment growth.
Travel Type Insights
On the basis of travel type, the market is bifurcated into domestic and international. The domestic segment accounted for a major portion of the global wellness tourism market in 2022. The segment is estimated to maintain its dominance throughout the forecast period. Rising expenditure recorded by domestic travelers for wellness activities is contributing to segment growth. Furthermore, the COVID-19 pandemic has helped increase the number of domestic visitors, as international borders were closed. As a result, tourists went to destinations within their home countries.
Domestic travelers have less difficulty visiting nearby attractions. Furthermore, due to budgetary constraints, budget-conscious visitors and low and middle-income workers often avoid international travel. This is anticipated to foster the growth of the segment. Domestic and local travel, outdoor activities, and preference for nature-based products are among the key travel trends augmenting the segment's growth.
The international segment is expected to register the fastest CAGR during the forecast period. This is mainly due to increased spending per trip, increased travel to overseas destinations, rising disposable income, and increasing popularity of Southeast Asian countries such as Thailand & Malaysia as tourism destinations offering services at lower prices. Furthermore, increasing spending on social and physical well-being, especially due to concern for a healthy lifestyle, is propelling segment growth.
Regional Insights
North America dominated the market with a revenue share of 40.7% in 2022. This is due to the increasing emphasis on physical and mental health and high disposable income. Active marketing by top players on the importance of physical and mental well-being achieved through yoga, rejuvenation therapy, herbal remedies, meditation, agritourism, and spa therapies at exotic destinations is increasing the number of trips to North America.
Europe is estimated to account for the second most prominent position in the market. The rising need for well-being services owing to increasing cases of stress-related health issues has boosted the market growth in the region. As per Eurostat, 56.0% of people from the European Union had at least one personal tour in 2021. Moreover, Spain was the most popular destination for international tourists in the European Union. Spain has an abundance of thermal springs, which help in soothing aches & pains.
The market in Asia Pacific is estimated to witness lucrative growth due to the growing popularity of various exotic destinations such as China, India, Malaysia, Indonesia, Thailand, and Singapore. In addition, the proliferation of hotel chains with centers offering massages, spa treatments, herbal treatments, and rejuvenation programs is projected to positively impact the market growth in the region. In February 2019, Aman Spa Amanpuri, a wellness center that also provides medical services, opened in Thailand. Also, in July 2018, Evolution Wellness Holdings, a company based in Malaysia, launched a new wellness resort named Fivelements Pte. Ltd. The entry of new players in the market is likely to intensify competition and significantly contribute to the growth of the market in Asia Pacific.
Key Companies & Market Share Insights
The market is highly fragmented in nature. Key players are adopting strategies such as partnerships, mergers, and acquisitions to strengthen their presence in the region. For instance, in May 2022, Hilton announced that it had signed an agreement with CKR Resort to launch the flagship brand Hilton Hyderabad Resort & Spa in Hyderabad. Similarly, OneSpaWorld, a provider of health & well-being services for cruise ships and resorts, announced a partnership with Haymaker Acquisition Corp., an acquisition company, to form a new holding company known as OneSpaWorld Holdings Ltd. in March 2019. Some of the prominent players in the global wellness tourism market include:
Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the Wellness Tourism market.
By Service
By Travel Purpose
By Travel Type
By Region
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers