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WELLNESS COMMUNITIES
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LIVING WELL In the first in a series, Jane Kitchen looks at some of the biggest wellness communities being developed in Asia – and what the challenges and benefits are to a region that seems primed for growth
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ellness communities are on the rise; real estate firms, investors and the public are starting to see the benefits – both financial and physical – of creating and living in areas dedicated health. But what are the challenges faced in this budding industry, and how successful will these communities be? The Global Wellness Institute (GWI) estimates that wellness real estate was a US$118.6bn (€107bn, £95bn) sector in 2015 – a healthy 19 per cent increase since 2013. In response to this, the GWI launched an initiative last year focused on wellness communities – defined, in part, as those developed with proactive health and wellness, ecological sensitivity and social connectivity in mind. “Models for wellness real estate are evolving from places we’d like to visit, to places we can now work, play, heal, learn – and ultimately – places we can live,” says Mia Kyricos, who is chair of the initiative and founder of strategic advisory firm Kyricos & Associates.
Models for wellness real estate are evolving from places we’d like to visit, to places we can now work, play, heal, learn – and ultimately – places we can live MIA KYRICOS
Ingo Schweder, CEO of GOCO Hospitality, which is developing several wellness communities, says the movement is becoming more mainstream. “The demand for wellness communities is growing worldwide, because individuals are now seeking a combination of healthy lifestyle, sustainable environments and dedicated service at their fingertips,” he says. “We’re witnessing an increase in health and wellness consciousness throughout the world, which is creating and supporting this change of mindset.”
‘Major market opportunity’ Kyricos says she too expects to see growth in the sector, as both the health benefits and business opportunities become more apparent. “For the first time in years, there is authentic consumer demand, and there’s very little supply,” says Kyricos. “This isn’t just an under-served market for a select few; it’s a major market opportunity that spans all income levels and geographies.” Wellness communities typically include facilities such as places to connect socially and outdoor fitness amenities, and are also usually built to environmental standards, but spa and wellness facilities still feature front-and-centre in every major development. “With the development of this market, spas and the spa lifestyle have the opportunity to serve at the heart of the community,” explains Kyricos. The pivotal nature of spa in wellness communities also means that these communities are an untapped area of growth for spa operators and suppliers. continued on p72 Wellness communities, such as GOCO’s Retreat in Ubud, Bali, are often designed to green building standards
70 spabusiness.com issue 1 2017
©CYBERTREK 2017