The wellness tourism sector – which was decimated by the impact of the COVID-19 pandemic in 2020, like virtually every facet of the travel industry – is experiencing a massive rebound, according to a recent report from The Leading Resource research and education for the wellness industry.
The Global Wellness Institute (GWI) December 2021 report offers a comprehensive overview of the global wellness economy – which it estimates at $ 4.4 trillion in 2020 – after the onset of the pandemic, and analyzes the future of welfare spending by sector.
As the global wellness tourism market grew from $ 720.4 billion to $ 435.7 billion – a whopping 39.5% – between 2019 and 2020 (compared to 43% for tourism as a whole) , he bounces back with amazing enthusiasm.
GWI projects an average annual growth rate of wellness tourism of 20.9% from 2020 to 2025, surpassing the trajectory of all other sectors of the wellness economy (including personal care and beauty, spas and wellness real estate, to name a few). Notably, the expansion of the overall welfare economy is expected to outpace that of global GDP by 9.9% compared to 7.3% respectively over the same period, according to the report.
These prospects are particularly optimistic for a hotel industry increasingly concerned with well-being. GWI notes that domestic and international wellness travelers have particularly deep pockets, even during the pandemic. In 2020, international wellness tourists spent an average of $ 1,601 per trip, which is 35% more than the typical international tourist. The premium for domestic wellness tourists is even higher: $ 619 per trip, which is 177% more than the usual domestic tourist.
“Wellness-oriented travelers are generally wealthier, educated, and have traveled a lot, and they are willing to spend more on travel experiences, services and amenities that promote their health and well-being,” says The report.
GWI’s conclusions are widely supported. According to a recent American Express poll, 78% of those polled said they were working on more health and wellness goals than in previous years, while 76% agree they want to spend more on trips to improve their wellness and 55% said they would be willing to pay extra for wellness activities on their next vacation.