Wellness Tourism Market: Emergence and Future Business Outlook

Author : Akash Vidhate | Published On : 24 Sep 2021

Traveling to preserve or improve one’s health is known as Wellness tourism. It is driven by a desire to   live a healthy lifestyle, avoid sickness, reduce stress, control distressing lifestyle behaviors, and/or have authentic experiences will stop consumers may reclaim travel as a source of leisure, renewal, exploration, joy, and self actualization by working with the wellness sector. Wellness tourism, which encompasses the promotion of health and personal well-being via different physical, psychological, and spiritual activities, is a result of this shift in preference. It also covers transportation, housing, food and beverage, shopping, and other services food.

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Role of Government in Promoting the Wellness Tourism Market.

The Ministry of Tourism has taken many measures to market India as a destination for medical and wellness tourism. The Ministry has established a National Medical and Wellness Tourism Board, with the Minister (Tourism) as its Chairman, to further the cause of promoting medical tourism, wellness tourism, and Ayurveda tourism.

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 A draft for the national strategy and roadmap for medical and wellness tourism has been developed by the Ministry of Tourism for the proper functioning of the wellness tourism sector. The Ministry of Tourism has requested feedback/comments/suggestions on the draft national strategy and road map from designated Central Ministries, all State Governments/UT Administrations, and industry players to make the document more comprehensive.

On the other hand, the global Wellness institute launched a Wellness tourism initiative to raise awareness, knowledge, and possibilities in one of the fastest growing areas of global tourism.

Traveler’s Sentiment on Post-COVID Tourism.

As per the European Travel Commission (ETC), the European vacationers have an uplifting outlook towards the travel industry. Be that as it may, the explorers are concerned in regards to becoming sick or contaminated with COVID-19 infection at the destination. ETC further added that a large portion of the vacationers are liking to go inside Europe and around 65% of the sightseers favored relaxation travel and 20% have plans to visit companions and family members.

In the U.S., the travel industry is by all accounts confined inside homegrown limits. Explorers in the U.S. like to visit outlandish areas inside the U.S. and have no plans for the global travel industry. The interest for urban communities and rural regions such as mountains, lakes, and beachfront destinations is on the ascent in the U.S. due to the rising travel costs in well-known traveling destinations.

Get detailed COVID-19 impact analysis on the Wellness Tourism Market

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With the rise of wellness tourism, Ayurveda institutes, hostel, and hospitality chains such as Airbnb, wellness centers/resorts, have experienced an increase in appointments and requests. According to internet booking portals, daily reservations at wellness resorts and institutes have increased by 1000 percent. As indicated by Airbnb, there has been an expanding interest in rural destinations. With the expanded speed of immunization, individuals are willing to embrace their usual travel. Yet, the majority of tourists are probably going to hit the homegrown and provincial places of interest.

The Key Developments in Wellness Tourism Industry.

The global wellness tourism market size was valued at $801.6 billion in 2020, and is projected to reach $1,592.6 billion by 2030, registering a CAGR of 7.2% from 2021 to 2030.

Tavistock Development Company announced an intention to build innovative wellness, performance, and medically integrated exercise center in Lake Nona, Orlando. The medical integrated exercise center will be built in collaboration with Signet LLC and its subsidiary Integrated Wellness Partners (IWP). The new wellness campus is anticipated to be one of the largest in the country, with a wide range of health and wellness offerings. The new wellness campus is to be one of the most extensive in the regions, giving a wide scope of wellbeing, health benefit programs, and administrations for the entire community.

Under an aggressive extension procedure, Rosewood Hotels dispatched another spa and wellbeing brand, Asaya, in Rosewood Phuket, Thailand. The Asaya Spa offers a mix of spa treatments, wellness exercises, physical training, instructive health programming, way of life tips, and mending rehearses. Furthermore, the second Asaya Spa will be dispatched in Hong Kong with the launch of Rosewood Hong Kong this year.                                     

Author:
Indranil Chakraborty
Research Associate
Consumer Goods Domain

 

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