Nowadays, tourism is not just going out to some known or unknown place. Tourism is one of the biggest industries around the globe. Also, this industry has seen substantial development and growth lately. One of the reasons behind the success of this industry is the variations it offers. There are many different types of tourism.
A few among the list are Adventure Tourism, Eco-Tourism, Dark Tourism, and Wellness Tourism. Thus, you can easily choose what suits you the best. Here we are going to talk about Wellness Tourism. Also, we will see a brief about the Wellness Tourism economy.
✈ What is Wellness Tourism?
The World Health Organization defines wellness as a state of complete physical, mental, and social well-being. It incorporates attitudes and activities that prevent disease, improves health, enhances the quality of life, and bring a person to increasingly optimum levels of well-being.
Market Analysis of Revenue generation in Hotels from Wellness Tourism
Various independent research organizations make estimates about the revenue generation in the Hotel industry from Wellness Tourism. One such source is SRI International.
SRI International is a US-based nonprofit, independent research and innovation center serving government and industry. Below are few statistics about the Wellness Tourism industry according to the estimates of SRI International and Statista.
The global wellness tourism economy is worth nearly $440 billion. Also, it accounts for roughly 14 percent of global tourism expenditures. Studies suggest it creates more than 12 million jobs. Wellness travelers represent only 6 percent of all tourism trips, but they account for 14 percent of tourism spending.
According to Statista, the Domestic and international wellness tourism expenditure reached 31.7 billion U.S. dollars in China in 2017, ranking it third on the list. Germany ranks second on the list with 65.7 billion U.S. dollars in wellness tourism expenditure. But, the United States remained the leading country regarding wellness tourism expenditure in 2017, accounting for 226 billion U.S. dollars.
The above statistic from Statista shows a forecast for the global market size of the wellness tourism economy in 2020 and 2027. The global wellness tourism industry is predicted to be worth around 1.2 trillion U.S. dollars in 2027, a significant increase from the 735.8 billion U.S. dollars market size in 2020.
✈ Conclusion
It indicates that the Hotels and Tourism industry can drastically increase the revenue by increasing Wellness Tourism by promoting it. But it is not only about the revenue growth of the industry. Wellness tourism also creates an immense impact on the life and health of tourists. It is a way to maintain, manage, or improve health and well-being while traveling.
