Page 112

Research: Worldwide

Evolving marketplace Data from the latest Global Wellness Economy Monitor shows healthy growth in the industry. Ophelia Yeung highlights the study’s key findings

F

igures from the 2016 Global Wellness Economy Monitor show that the global spa and thermal/ mineral springs industries continue to grow, evolving with consumer preferences in a dynamic wellness economy. The current and future state of the wellness economy is strong, propelled by consumer and demographic trends that are fuelling increased spending on both health and wellbeing.

Spas earned US$77.6bn in revenue in 2015

112 spa business HANDBOOK 2017 – 2018

Research study 1

THE SPA ECONOMY The Global Wellness Institute (GWI) estimates 121,595 spas were operating worldwide in 2015, earning US$77.6bn (€70.1bn, £50.8bn) in revenue and employing more than 2.1 million people. When measured in US dollars, industry revenue expanded 2.3 per cent annually

since 2013, adding US$3.5bn during the period from 2013 to 2015. However, when the figure is reported in euros, revenue growth was an impressive 11.9 per cent annually from 2013 to 2015, growing from €56bn to €70.1bn. The difference is due to the appreciation of the US dollar against the euro during this time. To grasp the scale of the industry’s growth, it might be more illuminating to consider the 16,005 new spas worldwide and the 237,424 new employees who have joined the industry since 2013. The largest growth in the number of spas and revenues occurred in the hotel/ resort spas category. This is because most 4-star properties and many 3-star properties have been adding spa services as they have quickly become an amenity expected by guests, even at the mid-tier level. In many of the mature spa markets, the growth in the number of spas reflects the addition of spas to existing hotel/ resort properties as much as, or more than, openings of entirely new properties. This trend is also decreasing the average size of a spa, as those targeting the mid-tier market tend to be smaller than the flagship spas in higher-end properties. While Europe continues to lead in overall spa revenues, Asia-Pacific www.spahandbook.com

Spa Business Handbook 2017 - 2018  
Spa Business Handbook 2017 - 2018  

The global resource for spa professionals