The ever-growing world of spas
Over the last 15 years, the spa sector has experienced a remarkable growth, as highlighted by the Global Wellness Institute (GWI). This institute collected and analysed research data from 2007 to 2022, offering a complete overview of global performance. The study is part of a new series called “market snapshots”, which monitors several domains of the wellness sector, including spas. According to the data of GWI, the worth of the global market of spas was 104.5 billion dollars in 2022, with an estimated increase to 156.1 billion by 2027.
The impact of the Pandemic and the sector recovery
From 2007 to 2019, the spa sector registered a constant growth, with a yearly increase of 7.7%, achieving a total of 169.369 facilities in 2019. However, the pandemic struck a serious blow to the sector: in 2020, revenues dropped dramatically and about 5.600 where forced to close. Despite the struggle, the sector showed signs of recovery between 2021 and 2022, with revenues that exceeded the ones before the pandemic in countries such as the United States, Canada and Switzerland. And yet, clients’ habits and needs have changed profoundly. Now, there is greater attention to interpersonal distancing, hygiene and cleanliness. The centres must make clear that their work revolves around these priorities, reassuring clients on the measures taken to ensure their safety.
Future Perspectives and new opportunities
Taking a look at the future, the forecast for the sector is very promising, with an annual increase of 8.3% until 2027. Even the other wellness domains, like the one of hot and mineral springs, are undergoing a significant development. The 2024 Global Wellness Summit will present new data that will not only confirm the recovery of the sector, but also its expansion.
In spite of the problems of recent years, the spa sector is proving its strong resilience, offering opportunities to both clients and operators. This is proof of how wellness has become fundamental in the life of every one of us. It isn’t a mere fleeting trend, but an ever-evolving and developing market that affects large population groups and encourage significant investments.