Spa Business Handbook 2017 - 2018

Page 98

wellness communities

Living Well

Wellness communities are on the rise as developers, investors, consumers and governments start to see the benefits of living spaces dedicated to health. Jane Kitchen takes a closer look at the growing market

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he Global Wellness Institute (GWI) has estimated wellness real estate to be a US$118.6bn (€107bn, £95bn) sector that’s growing at a rate of nearly 20 per cent, with communities cropping up worldwide. This has spurred a GWI Initiative on wellness communities, as well as the first dedicated research report on the subject, to be released at the 2017 Global Wellness Summit. The GWI Initiative developed a white paper that has helped to define the category. In order to deem a community “well”, it must feature some kind of environmental consciousness, with sustainable development and operating practices; have a commitment to holistic health and wellness; and foster social connections. Spas can feature front-andcentre in these developments, and many include substantial wellness centres on-site. “With the development of this market, spas and the spa

Wellness communities like ReGen include a connection to food production

With the development of this market, spas and the spa lifestyle have the opportunity to serve at the heart of the community

spa business HanDbOOK 2017 – 2018

lifestyle have the opportunity to serve at the heart of the community,” says Mia Kyricos, chair of the GWI Initiative on wellness communities and founder of strategic advisory firm Kyricos & Associates. Finding connections, whether it’s through community activities, spending time in nature or intergenerational living, is something wellness

communities aim to nourish – and that is appealing to developers. Kyricos says she expects the sector to grow. “This isn’t just an underserved market for a select few; it’s a major market opportunity that spans all income levels and geographies,” she says. In the following pages, we highlight some of the biggest communities across the world. www.spahandbook.com