Wellness Tourism Market Impelled by Augmenting Levels of Disposable Income in Developed Economies: XploreMR
Wellness Tourism Market Research Report
A new report by XploreMR studies the growth drivers, trends, restraints, and highlights of the wellness tourism market.
Presenting exclusive insights into the market from 2017 to 2026, the report projects that the market will witness significant growth during the forecast period.
Wellness tourism involves travel to prevent diseases, improve quality of life, and as a precautionary measure to optimize health.
The primary focus of tourists traveling for wellness is to facilitate well-being and attain good health through psychological, spiritual, or physical activities.
Wellness tourism differs from medical tourism, as the latter involves traveling for the treatment of a diagnosed condition.
The growth of the wellness tourism market is primarily attributed to increasing per capita income coupled with rising awareness regarding wellness activities, which is transmuting into increased traveling.
However, the travel restrictions on the back of the COVID-19 outbreak are expected to impede the market growth in the near term.
Rising Incidence of Lifestyle Disorders Shaping Growth Trajectory
Lifestyle-related disorders such as diabetes, obesity, and high cholesterol levels have seen a surge in recent years, owing to fast-paced lifestyles and hectic work schedules in both developed and developed economies.
According to the World Health Organization (WHO), about 422 million people worldwide have diabetes, and the condition causes 1.6 million deaths each year.
The rising incidence of such diseases is driving the growth of the health-specific, wellness tourism market.
Moreover, increasing levels of disposable income in developing regions is increasing the spending on wellness activities, thus creating lucrative revenue opportunities for the market players.
Backed by disposable income, tourists are seeking wellness activities such as healthful activities, spa treatments, and mind & body experiences in addition to their primary leisure or business travel.
The increased expenditure by several governments with the objective to develop the tourism sector is further impelling the wellness tourism market.
North American Market Complemented by Affinity for Wellness Activities Among Population
Owing to their ability to enhance physical and mental well-being, procedures such as anti-aging treatments, beauty treatments, weight loss programs, yoga, and spa therapies are gaining traction among people of the U.S., Brazil, and Mexico.
Backed by high spending on wellness activities by the population base in the region, North America is expected to hold the lion's share in the global wellness tourism market.
Closely following North America in Europe, which is expected to be the second most lucrative regional market for wellness tourism.
On the other hand, Asia Pacific is expected to register tremendous growth during the forecast period, owing to the increased disposable income of people in regions such as China, India, and Indonesia.
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