Wellness Tourism Global Market Opportunities and Strategies to 2032

This report describes and explains the wellness tourism market and covers 2017 to 2022, termed the historic period, and 2022 to 2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.

The wellness tourism market reached a value of nearly $731.36 billion in 2022, having grown at a compound annual growth rate (CAGR) of 3.6% since 2017. The market is expected to grow from $731.36 billion in 2022 to $1,178.93 billion in 2027 at a rate of 10.0%. The market is then expected to grow at a CAGR of 9.7% from 2027 and reach $1,876.43 billion in 2032.

Growth in the historic period resulted from increasing tourist spending on cultural and sports tourism, strong economic growth in emerging markets, rising disposable income, aging population and early retirement and rapid urbanization.

Going forward, increasing internet penetration and social media users, government initiatives, increasing focus on health and beauty, shift in travel trends, and rise in e-literacy. Factors that could hinder the growth of the wellness tourism market in the future include shortage of skilled workforce and stringent regulations.

The wellness tourism market is segmented by service type into transport, lodging, food and beverage, shopping, activities and excursions and other services. The lodging market was the largest segment of the wellness tourism market segmented by service type for 21.2% of the total in 2022. Going forward, the lodging market is expected to be the fastest growing segment in the wellness tourism market segmented by service type, at a CAGR of 11.1% during 2022-2027.

The wellness tourism market is segmented by d travelers type into primary and secondary. The secondary market was the largest segment of the wellness tourism market segmented by travelers type for 87.8% of the total in 2022. Going forward, the secondary market is expected to be the fastest growing segment in the wellness tourism market segmented by secondary, at a CAGR of 10.1% during 2022-2027.

The wellness tourism market is segmented by location into domestic and international. The domestic market was the largest segment of the wellness tourism market segmented by location for 76.3% of the total in 2022. Going forward, the domestic market is expected to be the fastest growing segment in the wellness tourism market segmented by location, at a CAGR of 10.0% during 2022-2027.

North America was the largest region in the wellness tourism market, accounting for 38.4% of the total in 2022. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the wellness tourism market will be Middle East, and, Africa where growth will be at CAGRs of 13.5% and 11.9% respectively. These will be followed by South America, and, Asia Pacific where the markets are expected to grow at CAGRs of 11.8% and 11.3% respectively.

The global wellness tourism market is fragmented, with a large number of players. The top ten competitors in the market made up to 1.43% of the total market in 2021. This can be due to the existence of number of local players in the market serving customers in particular geographies. Hilton Worldwide was the largest competitor with 0.24% share of the market, followed by Marriott International Inc. with 0.24%, Four Seasons Hotels Ltd. with 0.19%, Accor S.A with 0.14%, Hyatt Hotels Corporation with 0.13%, Intercontinental Hotels Group with 0.13%, Radisson Hotel Group with 0.11%, Rosewood Hotels & Resorts with 0.10%, Omni Hotels & Resorts with 0.08% and Canyon Ranch with 0.08%.

The top opportunities in the wellness tourism market segmented by service type will arise in the lodging segment, which will gain $5106.93 billion of global annual sales by 2027. The top opportunities in segment by travelers type will arise in the secondary segment, which will gain $396.12 billion of global annual sales by 2027. The top opportunities in segment by location will arise in the domestic segment, which will gain $342.18 billion of global annual sales by 2027. The wellness tourism market size will gain the most in the USA at $141.17 billion.

Market-trend-based strategies for the wellness tourism market include soft wellness travel, digital detox, focus on re-wilding, use of artificial intelligence, new products and services launch and strategic partnerships.

Player-adopted strategies in the wellness tourism market service expansion, business expansion, enhancing customer service and increasing production capacity.

To take advantage of the opportunities, the publisher recommends the wellness tourism companies to focus on soft wellness travel, focus on digital detox, use artificial intelligence, launch new products and services, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships, offer competitive pricing, participate in trade shows and events, leverage online portals to maximize reach and revenues, focus on aggressive advertising and promotional activities, target international travelers, focus on aging population, focus on urban population.