The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
Tourism is benefiting from growing consumer interest in health and wellness, with a growing number of medical and spa destinations appearing across the globe. While medical tourism is driven largely by greater affordability of higher quality services and the reducing costs of travel, spa tourism is supported by a more pervasive trend of experiential consumption and permissible indulgences (the idea that it is ’okay’ to spend money on wellness), a need for an antidote to the stresses of modern life, as well as increased exposure to such concepts as they gain ground globally.
Inbound medical tourism refers to people traveling to a country other than their own, whose primary purpose of travel is to receive medical treatment. The global industry is expanding as many countries; especially emerging economies, are promoting it. Furthermore, low transportation costs due to growing presence of low cost carriers and availability of useful information related to medical tourism are driving its growth.
Global spa tourism market is booming, the total spending of inbound spa visits globally to US$ 22.2 Billion in 2016 (based on an assessment of trends in the major markets). Rising disposable income in emerging economies continues to be the main driver of spa tourism, supported by hectic lifestyles and work pressures, which drive the need to de-stress. The market is set to grow at a CAGR of 4.9% from 2017-2021.
In 2016, Europe was the largest inbound tourism market globally, driven by its “holistic wellness concept”, where the spa industry goes beyond spa treatments to also include traditional medicines, nutrition, fitness, and high-tech beauty. Spain, Italy, and France are driving the region’s dominance. However, considering the total number of spas, Asia-Pacific leads (followed by Europe) as treatment in Asia-Pacific is significantly more affordable than other regions. Thailand is a key market in the Asia-Pacific and is a hot destination for budget travelers from within the region.
The report "Global Health and Wellness Tourism", provide a thorough insight into global health and wellness inbound tourism industry. The report sheds light into this different key source market of global tourists and summarizes the key reasons why they travel to these destinations. The report offers an in-depth analysis of traveler flows, spending patterns, leading and emerging destination markets, and the key market trends and challenges in global medical and spa tourism market.
- The global medical tourism industry is expanding as many countries, especially emerging economies, promote it. Furthermore, low transportation costs due to the growing presence of low cost carriers and availability of lots of useful information related to medical tourism are driving its growth
- Rising disposable income in emerging economies continues to be the main driver of spa tourism, supported by hectic lifestyles and work pressures, which drive the need to de-stress. The market is set to grow at a CAGR of 4.9% from 2017-2021, with total inbound spending reaching US$310.5 million by 2021.
Reasons To Buy
- Predict how the global health and wellness tourism market is expected to grow using historic and forecast market data related to medical and spa inbound tourism
- Understand the demand-side dynamics within the industry to identify key market trends, growth opportunities
- Direct the promotional efforts on most promising markets by identifying the key source and destination countries.