Wellness Tourism Market Size Worth $1.02 Trillion by 2030: Grand View Research, Inc.

SAN FRANCISCO, June 27, 2022 /PRNewswire/ -- The global wellness tourism market size is expected to reach USD 1.02 trillion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.93% from 2022 to 2030. Increasing patient awareness regarding health and wellbeing and personal care will be one of the major drivers for the market. Promotional campaigns arranged by various governments are also encouraging wellness tourism across the globe. Wellbeing services offered by players help customers find solutions to improve or maintain their health and wellbeing. The rising number of health-conscious people is contributing to the increasing demand for wellness activities at popular travel destinations.

Key Industry Insights & Findings from the report:

• In terms of service, the lodging segment dominated the market in 2021. This can be attributed to the rapid expansion of large hotel chains that provide exotic therapies including rejuvenation programs, spa treatments, and other services.
• Based on travel type, the domestic segment accounted for the maximum revenue share in 2021. This can be attributed to the increased expenditure by domestic tourists on wellness activities.
• North America is estimated to dominate the market throughout the forecast period. This can be attributed to the high demand for physical and mental health, increasing disposable income, and growing awareness about spa benefits.
• Marriott International, Inc. established an all-inclusive platform in August 2019 to cater to the growing demand during the holiday season. Marriott International also announced that it has secured management agreements with hotel developers who aim to invest over USD 800 million in five new all-inclusive resorts, underscoring its confidence in its size and client base.
• Marriott International launched a hotel development program named "Marriott's Bridging the Gap" in June 2022.

Get more Insights from 140-page market research report, "Wellness Tourism Market Size, Share & Trends Analysis Report By Service (Lodging, Wellness Activities), By Travel Purpose (Primary, Secondary), By Travel Type (Domestic, International), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Wellness Tourism Market Growth & Trends

The increase in lifestyle-related diseases such as diabetes, obesity, and high cholesterol due to busy work schedules and sedentary lifestyles is propelling the market growth. The market is heavily influenced by factors such as increasing awareness regarding healthcare tourism and the rising burden of disease. Furthermore, the growing prevalence of mental illnesses such as depression and anxiety, rise in disposable income, increasing adoption of online travel services, growing influence of social media, and raised government investment to attract tourists are propelling the market growth.

The overall tourism industry was adversely hit by the COVID-19 pandemic. The market witnessed a significant decline in the number of travellers owing to restrictions on travel and the entry of international tourists. According to Global Wellness Institute, the number of wellness trips in North America declined by 43.8% in 2020. Increasing number of secondary travellers and resume of activities by spas and resorts are expected to boost the market growth post-pandemic.

Wellness Tourism Market Segmentation

Grand View Research has segmented the global wellness tourism market based on service, travel purpose, travel type, and region:

Wellness Tourism Market - Service Outlook (Revenue, USD Billion, 2016 - 2030)

• In-country Transport
• Lodging
• Food & Beverage
• Wellness Activities
• Shopping
• Others

Wellness Tourism Market - Travel Purpose Outlook (Revenue, USD Billion, 2016 - 2030)

• Primary
• Secondary

Wellness Tourism Market - Travel Type Outlook (Revenue, USD Billion, 2016 - 2030)

• Domestic
• International

Wellness Tourism Market - Regional Outlook (Revenue, USD Billion, 2016 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• Australia
• Thailand
• Latin America
• Brazil
• Mexico
• MEA
• South Africa

List of Key Players of the Wellness Tourism Market

• Hilton Worldwide
• Accor Hotels
• Hyatt Hotels
• Rancho La Puerta, Inc.
• Marriot International
• Rosewood Hotels
• PRAVASSA
• InterContinental Group
• Omni Hotels & Resorts
• Radisson Hospitality
• Four Seasons Hotels

Check out more related studies published by Grand View Research:

• Corporate Wellness Market - The global corporate wellness market size is expected to reach USD 93.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.0% from 2021 to 2028. Rising obese and overweight population increases insurance costs that account for the financial burden on the employers. The corporate wellness initiatives target particular health risk factors such as stress, obesity, smoking, poor eating, and lack of exercise.
• Connected Health And Wellness Solutions Market - The global connected health and wellness solutions market size is expected to reach USD 187.10 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 20.6% from 2022 to 2030. The demand for wearable medical devices and remote patient monitoring systems is anticipated to increase over the forecast period due to the shifting consumer preferences towards a healthier lifestyle thus driving the market growth.
• Health Sensors Market - The global health sensors market size is expected to reach USD 83.2 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 17.0% during the forecast period. Rising geriatric population and burden of chronic diseases are the key factors positively affecting market growth.

Browse through Grand View Research's Medical Devices Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg