Published on : Friday, October 11, 2013
A new study presented by SRI International at the inaugural Global Wellness Tourism Congress (GWTC) found wellness tourism is nearly a half-trillion dollar market, representing 14 per cent of total global tourism revenues ($3.2 trillion*) overall. According to The Global Wellness Tourism Economy report, the category is projected to grow on average 9.9 per cent annually over the next five years, nearly twice the rate of global tourism overall, reaching $678.5 billion by 2017, or 16 per cent of total tourism revenues.
The study also noted over one-half of the growth in wellness tourism through 2017 will come from the Asian, Latin American and Middle Eastern/North African markets, and India will be number one globally over the next five years, clocking a 20 per cent-plus growth through 2017. And wellness tourists are higher spenders, on average, spending 130 per cent more than the average global tourist.
While wellness tourism represents roughly one in seven total domestic and international tourism dollars (14 per cent), it represents 6 percent of the number of international and domestic trips—or 524.4 million. Powerful Impact on Jobs and Economies: Wellness tourism is directly responsible for $11.7 million global jobs, which delivers $1.3 trillion in global economic impact—or 1.8 percent of the world’s GDP in 2012.
A Strikingly High-Yield Tourist: Wellness tourists spend, on average, 130 per cent more than the average global tourist. An international wellness tourist spends roughly 65 percent more per trip than the average international tourist; the domestic wellness tourist spends about 150 percent more than the average domestic tourist.
For Now: While over 50 per cent of the projected growth in wellness tourism through 2017 will come from Asia, Latin America, and the Middle East/North Africa, the SRI study found that today’s typical wellness traveller is well-educated, well-off, middle-aged and hails from Western and industrialised nations.