Wellness Tourism Market Survey Report | How has COVID-19 affected the market?

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The global wellness tourism market is poised for healthy growth in the years ahead. The rising incidence of mental illness mostly related to personal and professional reasons is stoking demand for holistic remedial therapies.

Wellness tourism refers to travelling wherein activities planned for health and well-being are on top priority. Trips organized for wellness include healthy food, spa treatments, exercise, and opportunities for spiritual and creative development. Wellness therapies include administering conventional, complementary, alternative, herbal, or homeopathic medicine on its own or in combination.

Global Wellness Tourism Market: Trends and Opportunities

One of the key growth drivers of the wellness tourism market is increasing interest of hospitality industry towards wellness. Large hotel chains are equipped with state-of-the-art health and wellness center that guests that combine on their stay. These offer massage, spa treatments, meditation, spiritual healing, and herbal therapies. Primary travelers who undertake wellness trips focus on achieving wellness.
The growth of leisure travel is also serving to boost wellness tourism. Travelers from different parts of the world seeking to experience local culture tend to experience local age-old health remedies in their travel. Word of mouth marketing of wellness and health remedies offered at a particular place is boosting wellness tourism.

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Secondary travelers look for additional wellness package while on leisure trips to experience fitness. Wellness programs may include organic food, special diets seasonal fruits, natural herbs, spa treatments, massages with aromatherapy within the hotels. Consequently, increasing number of hotels that carry wellness destination quality labels are indirectly boosting wellness tourism.

Travelers traveling with religious objectives also tend to experience local medicinal therapies offered by local healers. This serves to boost wellness tourism.

Global Wellness Tourism Market: Market Potential

In a recent industry news, in India, Maharashtra Tourism Development Corporation (MTDC) joined hands with Global Vipassana Pagoda to promote wellness tourism. The objective of the association is to encourage and promote wellness tourism in the state.

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Global Wellness Tourism Market: Geographical Outlook

North America is a key regional market for wellness tourism. High awareness among individuals about holistic health therapies and high disposable incomes that boost travel for health are key factors that promote North America wellness tourism market. The U.S. and Canada are key domestic markets for wellness tourism in North America. The growing popularity of wellness tourism among baby boomers will further boost the North America market for anti-ageing treatments and spa treatments.

Asia Pacific is rapidly emerging as a key market for wellness tourism. Rising popularity of health practices of Ayurveda are drawing large number of westerners to India. Individuals are recognizing the long term health benefits of Ayurveda and are traveling to Indian shores to learn and practice wellness therapies. This is giving a push to the wellness tourism market.

Rising adoption of ancient Chinese medicine and other oriental therapies known to drive health and well-being is favoring the wellness tourism market.

Top players in the global wellness tourism market are:

• Accor Hotels
• IHG
• Canyon Ranch
• Red Carnation Hotels
• IHHR Hospitality (Ananda resort)
• Body and Soul Wellness Center
• Fitpacking, Gwinganna Lifestyle
• Hilton
• Kamalaya Koh Samui
• MOUNTAIN TREK FITNESS RETREAT & HEALTH SPA
• Wellness & Hormone Centers of America
• Aro Ha Wellness Retreat
• BodySense
• Four Seasons Hotels
• Hyatt, Marriott International
• Rancho La Puerta.

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The 5-point growth formula includes the following points:

• Current and Future Threats
• Accurate Trend Analysis
• Regional Assessment
• Industrial Analogy
• COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

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