By 2030, the wellness tourism market could be worth $1,592.6 billion

The research "Wellness Tourism Market by Service Type, Location, Travellers Type: Global Opportunity Analysis and Industry Forecast, 2021-2030" claims that the wellness tourism market would grow globally between 2021 and 2030. The wellness tourism industry was estimated to be worth $801.6 billion in 2020 and is expected to grow to $1,592.6 billion by 2030. According to the report, the hospitality industry was the largest contributor to the wellness tourism market in 2020.

Wellness tourism refers to trips taken with the express purpose of maintaining or enhancing one's health. Consumers who are motivated to take better care of themselves by seeking out wellness services in order to relax, recharge, discover new things, have fun, and grow as people may rediscover travel as a means to these ends. Because of this demand change, a new industry known as "wellness tourism" has emerged to promote health and personal well-being via travel. Transportation, lodging, food, drink, shopping, and other services are all included in the initial price.

There has been a spike in demand for appointments and bookings at wellness facilities and resorts, as well as at Ayurveda centres, hostels, and accommodation networks like Airbnb. Online travel agencies report a 1,000% rise in daily bookings for health spas and retreats. Airbnb data shows a rise in demand for stays in remote locations. Now that vaccinations can be administered easier, many people feel safe enough to resume their regular vacation plans. However, it's safe to assume that the vast majority of visitors will go to the more local and regional attractions.

To all appearances, the American tourism sector stays inside its own borders. American explorers are content to see exotic locations inside their own country and have little interest in expanding into international tourism. As the price of visiting more popular tourist spots rises, more Americans are looking to less expensive alternatives including metropolitan areas and rural areas with attractions like mountains, lakes, and beaches.

According to the study’s results, hotels made up 20.6% of the wellness tourism market worldwide in 2020. Sixty-five percent of the market in 2020 was generated inside the United States. When broken down by traveller demographic, the most popular subset is expected to expand at a compound annual rate of 8.7 percent over the next years. As the report states, North America now accounts for a sizeable portion of the market share and is anticipated to maintain its position over the study's projected timeline.

The report's primary findings and suggestions shed light on critical, forward-thinking industry trends in the Wellness Tourism Market, enabling companies in the market to create profitable long-term plans.

 

Source: einnews.com