Everyone’s talking about
development opportunities
Six Senses says
its spa in Con
Dao, Vietnam is
performing well
and suggests the
country holds
much potential for
future development
RHIANON HOWELLS guillemotright.cap CONSULTING EDITOR guillemotright.cap SPA BUSINESS
here’s no denying that Finance in June put this f_i gure even
T
these are dif_f_i cult times for We might be in the midst higher, at nine.fitted per cent. India is also
the international hotel and
of a recession, but there
expected to grow strongly, with a real
spa industry, as the impact GDP increase of five.fitted.six.fitted per cent next year,
are still opportunities
of the recession really begins to be felt. according to the IMF. Other regions
While existing operations are battening
out there for savvy spa
where growth is predicted (in some,
down the hatches in an ef_f ort to weather
developers – so what
though not all, countries) include the
the storm, new developments are being
and where are they?
Middle East, Africa and south-east Asia.
put on hold across the globe. Even in those regions hardest hit
It will undoubtedly be some time by the recession – Europe and North
before the rain clouds clear, but there China, for example, still has huge America – there are opportunities to
are still some rays of sunshine. Despite growth potential, with real GDP be had, with both the four-star hotel
the downturn, there remain parts of predicted to increase by seven.fitted.five.fitted per cent market and day-spa sector benef_i ting
the world where the economy is still in two.fittedzero.fittedone.fittedzero.fitted, according to the International as consumers downgrade.
growing, albeit more slowly than before, Monetary Fund (IMF) report, World So which markets hold the greatest
and cash-rich hotel and spa investors Economic Outlook: Crisis and Recovery, potential for spa development in the
can capitalise on signif_i cantly lower real published in April. Furthermore, a current climate? And how can you
estate and construction costs. forecast by the Institute of International make the most of it? We ask the experts.
2624 Read Spa Business online spabusiness.comm // digital SpSPa BuA BUSINESS 4 2009SineSS 4 2009
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