SRI International for the Global Spa & Wellness Summit has just released a landmark study speaking to the size and scope of the “Wellness Tourism” market stating that wellness tourism is a US $438.60 billion global market.
- Wellness Tourism is defined as “travel associated with the pursuit of maintaining or enhancing one’s personal wellbeing.”
- The wellness tourism economy is a US$438.6 billion global market.
- Wellness tourism accounts for about 14% (US$438.6 billion) of all domestic and international tourism expenditures.
- Domestic wellness tourism is much larger than international, representing 84% of wellness tourism trips and 68% of expenditures.
- Wellness tourism is projected to grow by more than 9% per year through 2017, nearly 50% faster than overall global tourism.
- Wellness tourism generates 11.7 million direct jobs, delivering US$1.3 trillion of global economic impact (1.8% of global GDP in 2012).
- Wellness tourists are “high-yield” tourists, spending 130% more than the average tourist.
- More than one half of the projected growth in wellness tourism trips through 2017 will take place in Asia, Latin America and Middle East/North Africa.
- India will have the highest increase in wellness tourism and is expected to grow at a rate of 20% a year through 2017.
- Wellness tourism has much in common with other niche tourism segments, such as adventure, culinary and eco-tourism.