Global Wellness Tourism Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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14755
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May 2023
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“Global Wellness Tourism Market’ report, based on the current global scenario, is in the process of completion at MarketResearch.biz. The report includes opinions and inputs from industry experts and exhaustive primary and secondary efforts are invested to provide insights into the target market. Revenue and sales are based on estimated, projected, and historical revenue. Several factors are considered to reach at insightful results and confidently present findings on the global wellness tourism market. Along with critical information and data, the report consists factors expected to drive market growth, key and ongoing trends, factors expected to restrain market growth, and threats or challenges. In addition, opportunities potential revenue generation in untapped regions and countries are also included in the report. The company profile section of the report provides in-depth information on key players. Strategies, recent key developments, mergers, and acquisitions are also included in the report. The global wellness tourism market has been segmented according to service, travel purpose, travel type, and region.
Overview
The health and wellness industry is about activities that promote both, mental and physical wellbeing. The activities can include or be related to personal care and beauty, yoga, healthy eating, spa retreats, nutrition and weight-loss, meditation, workplace wellness, and wellness tourism. Wellness is a process of making informed decisions towards leading a healthy and fulfilling lifestyle. Moreover, wellness is more than a state of being away and free from diseases, but a process of change and growth, which is dynamic. Wellness is a state of complete mental, physical, and social wellbeing. It is something people incorporate into their lifestyle. Wellness economy comprises 10 sectors: wellness real estate, workplace wellness, wellness tourism, spa economy, thermal/mineral springs, fitness and nutrition, healthy eating and weight management, beauty, anti-aging, personal care, preventive and personalized medicine, and complementary and traditional medicine. There are four types of wellness tourism/tourists such as primary wellness tourist, secondary wellness tourist, international wellness tourism receipts, and domestic wellness tourism. Wellness tourism is defined as travel with the purpose of enhancing or maintaining personal wellbeing.
Dynamics
One of the major factors driving growth of the global wellness market is an increasing number of global tourists. In addition, growing expenditure on tourism is expected to be a significant factor driving demand for wellness tourism in the global wellness tourism market during the forecast period. Service providers related to wellness tourism are offering various spa therapies and other related wellness activities to ensure high level of customer satisfaction and experience. Unlike medical tourism, the objective of wellness tourism is more on disease prevention. Wellness tourism is more emphasized on improved quality of life and healthy lifestyle. Medical tourism is treating already diagnosed diseases; whereas, wellness tourism is considered as a precautionary measure for optimizing health and life. Attributed to sedentary lifestyles, hectic work schedules, and lack of physical activities, the cases of lifestyle diseases such as obesity, diabetes, and high cholesterol levels are increasing. This is considered to be a major factor expected to drive growth of the global wellness tourism market during the forecast period. Growing disposable income levels in developing economies is another factor driving demand for wellness tourism. Attractive packages offered by wellness tourism operators in the market is also expected to drive growth of the global wellness market.
Global Wellness Tourism Market Segment Analysis:
By Service: Among the service segments, the lodging segment is projected to account for majority revenue share in the global wellness tourism market, and is expected to continue its dominance over the forecast period.
By Travel Purpose: The secondary segment among the travel purpose segments accounts for relatively higher revenue share in the global wellness tourism market, and is to continue its dominance over the forecast period. This growth is attributed to rising demand for spa treatments, healthful activities, and positive mind & body experiences.
By Travel Type: The domestic segment among the travel type segments is projected to continue to account for highest revenue share owing to increasing expenditure for domestic wellness activities.
Global Wellness Tourism Market Regional Analysis:
The market in Europe continues to account for highest revenue share, and the trend is expected to continue over the forecast period. This growth is attributed to increasing need for wellness activities in the region owing to growing number of health issues related to stress due to various reasons.
Global Wellness Tourism Market Segment Analysis:
By Service:
- In-country Transport
- Lodging
- Food & Beverage
- Wellness Activities
- Shopping
- Others
By Travel Purpose:
- Primary
- Secondary
By Travel Type:
- Domestic
- International
By region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn -
- Accor Hotels
- Hilton Worldwide
- Hyatt Hotels
- InterContinental Group
- Marriot International
- Radisson Hospitality
- Rosewood Hotels
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