Outlook of the wellness tourism market:
If we go by the Technavio market research analysis, the global wellness market is anticipated for a bumper growth and will post a nonplus compound annual growth rate exceeding 10% over the forecast period. With a rise in mass awareness about anti aging and de stressing procedures, the market for wellness tourism is expected to have a favorable influence on global population in the years to come.
A substantial segment of population in China, Italy, Brazil, US, Mexico, France and South Africa is extremely desirous of going through painless and scar-less facial aesthetic workouts for accomplishing charming youthful looks with more surgeons and patients selecting hyaluronic acid and collagen based products for such procedures.
Physical and mental disorders cropping up from an erroneous lifestyle and incompetence of the conventional medical system in proper treatment and cure are compelling individuals towards wellness and preventive services to maintain a good physical and mental stability.Engaging in spas and other wellness programsare no longer seen as something special and reserved for the affluent class.
As a result, many customers take to massages and therapies for uncoiling themselves from the regular strain of leading a back-breaking schedule giving rise to chronic physical and mental afflictions.With a rise in awareness of preventive healthcare, the wellness tourism market is anticipated to thrive at a roaring pace during the predicted period.
Competitive landscape and key vendors:
The global wellness tourism market is split up due to the existence of resourceful service providers both from global and regional domains.The fast growth of this market has led to heavy alterations in directives in different countries including Canada, China, India, Thailand, Mexico, Germany, UK, USA, Japan, South Korea and New Zealand.The cutthroat ambience in this market is expected to heighten with a rise in product and service innovation, technological up-gradation and the governance that exists and runs the market.
The primary vendors in the market are:
– Canyon ranch.
– Carlson Rezidor.
– Four seasons.
– Fit packing.
– Rancho la Puerta.
– Omni Hotels management
Segmentation of tourism type and analysis of the wellness tourism market:
– Domestic wellness tourism.
– International wellness tourism.
In the year 2015, domestic wellness tourism sector headed the market by taking up nearly 66% of the market share in terms of cash inflow registered.The growth of this sector is a direct consequence of easy access to fitness centers, spas and beauty clinics at reasonable prices.
Among a range of services, Spa tourism has been a major driver in the domestic wellness tourism market in the past and will continue to be the chief flag bearer in the forecast period as well. Also the hike in disposable income and the rising awareness regarding recreational activities will also support the expansion of this market domain.
Geographical segmentation and analysis of the wellness tourism market:
If you consider the geographical segmentation, the Americas have been leading the market since past andis anticipated to hit USD 392 billion mark by 2020.North America was the world’s largest market for wellness tourism in terms of dollars spent and the second largest in terms of the number of people making a visit in 2015.Although this sector has taken a firm hold in North America, franchises and new cheaper spa options are becoming the key force behind the ongoing rise in spa recreations. This region draws tourists from all over the world who look for beauty treatments and fitness activities which will contribute to the market’s expansion in the coming years.
Key questions answered in the report include:
– What will be the size of the market and rate of market expansion in 2020?
– What are the chief factors supporting the global wellness tourism market?
– What are the primary market inclinations influencing the growth of global wellness tourism market?
– What are the obstacles to market growth?
– Who are the key service providers in global wellness tourism market?
– What are the opportunities and threats confronted by the service providers in global wellness tourism market?
– What are the determining factors impacting the market shares of the Americas, APAC, MEA and Europe?
– What are the key results of five forces acid tests driving of the global wellness tourism market?
Global wellness tourism provides a huge scope for promoting health and an all-round wellbeing by engaging in physical, psychological or spiritual pursuits. It is now a growing international fad endorsed by health conscious consumers who are seeking to enhance their wellbeing through their travel experiences.These travelers have a range of goals ahead ranging from weight management programs, rejuvenation, get relief from body aches and handle stress or consumption of natural supplements like vitamins and minerals to achieve a sound health.
The market research reports offered by Technavio bring forth different perspectives on market opportunities and threats together with the latest vogues that would impact the market expansion during the forecast period. It also presents an in-depth exploration into the changing competitive scenario and a detailed analysis of the vendors’ potential.The research also takes care of the chief regions and countries that would have an immense influence on the market during coming years.