RESEARCH TABLE 1 Top 10 Spa Markets, 2013
Number of Spas Employment
United States Germany Japan China France Russia Italy
United Kingdom Spain
Canada
22,852 5,575 6,958 9,452 3,556 2,728 2,679 2,964 2,432 3,658
354,610 126,481 113,397 225,341 70,232 101,373 61,398 52,908 45,381 42,771
Revenues
(US$ billions) $16.25
$5.97 $5.95 $4.70 $3.12 $2.91 $2.76 $2.51 $2.14 $2.04
Source: 2014 Global Spa & Wellness Economy Monitor, SRI International
top 10 countries represent 88 per cent of thermal/mineral springs establishments and 85 per cent of revenues (see Table 2). As the renewed interest in the special
properties of thermal and mineral waters continues to pick up momentum, we expect to see an increasing number of businesses built around springs in the countries where the industry is less developed. In well-established markets in Europe, many countries are refurbishing their facilities and modernising their off erings to appeal to modern wellness consumers and travellers.
Wellness tourism and lifestyle The global spa and wellness cluster outlined in the research also included well- ness tourism which SRI defi nes as “travel associated with the pursuit of maintaining or enhancing one’s personal wellbeing”. In total, this represented a US$494bn (€384bn, £301bn) market and 587 million trips in 2013. The number of trips grew at a 12 per cent annual rate – which is signifi cantly higher than the 9 per cent SRI previous forecasted (see SB13/4 p80). Besides the spa industry, thermal/
mineral springs and wellness tourism, the global wellness economy includes many other industries that help consumers take a proactive approach to maintain health and prevent diseases – from healthy food, weight loss, anti-aging, fi tness/mind-body, to wellness real estate and workplace wellness. These additional industries that help consumers realise a wellness lifestyle add a signifi cant US$2.8tn (€2tn, £1.7tn) to the global wellness market.
96
Strong future The SRI research outlined four underlying trends that suggest strong future growth for the spa and wellness economy. The fi rst is demographics,
Rank in 2013 (2007 Rank)
1 (1) 2 (3) 3 (2) 4 (7) 5 (4)
6 (13) 7 (5) 8 (6) 9 (8)
10 (9) TABLE 2
Top 10 Thermal/Mineral Springs Markets, 2013 Number of
China Japan
Germany Russia Italy
Austria Turkey
Hungary
Czech Republic Spain
Establishments (US$ millions) Rank in 2013 2,160
Revenues
17,653 1,265 776 756 124 196 531 84
165
$14,078.3 $11,687 $7,520
$3,688.5 $1,742.7 $928.8 $862.4 $691.3 $686.4 $672
1
2 3 4 5 6 7 8 9
10 Source: 2014 Global Spa & Wellness Economy Monitor, SRI International
GLOBAL SPA & WELLNESS ECONOMY MONITOR
their “fl y healthy” advantages. The spa industry in particular will continue to benefi t from this phenomenon. Finally, we see businesses
specifi cally, the growth of a global middle class. Two billion people around the world are considered middle class now. They have money beyond food and shelter to buy goods that make their lives better. This includes wellness products and services. The global middle class is expected to grow to 5 billion in 2030. The growth will primarily occur in Asia, but also in Latin America, the Middle East and Africa. The second factor is the evolution
SRI revealed the research in September
innovating to capture this growing market by creating diff erent models to meet the price points and needs of middle-income consumers. Spa Envy has successfully pioneered a franchising and membership model in the US,
encouraging customers to get a regular massage at a low price (see SB14/2 p34). Other business such as salons and fi tness centres are also adding spa-like treat- ments, making wellness services more accessible and aff ordable. As consumers become more experienced,
of how consumers think about health. Around the world, people are realising that they need to adopt a healthy lifestyle to prevent or mitigate chronic diseases, many of which are related to lifestyle and stress. More consumers are interested in healthy foods, going to the gym, practicing yoga and getting a therapeutic massage. These activities are no longer considered a luxury but a part of routine health maintenance for some and to provide stress relief or pain relief for others. The third theme is travel. Global tour-
ism is growing fast and more people are incorporating wellness into their travel. Many are now choosing hotels that off er healthy menus, good sleeping conditions, exercise facilities and spas. Some airlines, such as Qatar airlines, are already touting
they also become more sophisticated and tend to value experiences that are authentic, unique to the place, or related to nature. This has given rise to a diff erentiation in wellness hotels and boutique resorts and also treatments that are incorporating local and traditional healing practices, ingre- dients and environment. We believe that continued innovation among businesses will keep the spa and wellness industries on a growth path that’s fi rmly anchored to consumer demand. ● To download the research for free visit
www.globalspaandwellnesssummit.org
Ophelia Yeung is a senior consultant at SRI International Email:
ophelia.yeung@
sri.com Tel: +1 703 247 8845
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