Global Wellness Tourism Market to reach $1,592.6 billion by 2030: Allied Market Research

Rise in interest of travelers to know the culture and interact with the local people, inclination toward unique and exotic holiday experiences, and surge in trend of online bookings drive the growth of the global wellness tourism market. Increase in telemedicine, at-home fitness, and digital therapy activities led to the growth of the wellness tourism market worldwide during the Covid-19 pandemic.

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Portland, OR, Sept. 06, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global wellness tourism market generated $801.6 billion in 2020, and is estimated to reach $1,592.6 billion by 2030, witnessing a CAGR of 7.2% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Rise in interest of travelers to know the culture and interact with the local people, inclination toward unique and exotic holiday experiences, and surge in trend of online bookings drive the growth of the global wellness tourism market. However, variations in socio-economic conditions hinder the market growth. On the other hand, emergence of new destinations and massive investments for building a better infrastructure create new opportunities in the coming years.

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Covid-19 Scenario:

  • Increase in telemedicine, at-home fitness, and digital therapy activities led to the growth of the wellness tourism market worldwide during the Covid-19 pandemic. Adoption of online consultation resulted in significant gains for the key players in the wellness tourism sector.
  • Due to international and local travel bans during the lockdown, market players suffered a considerable loss as the number of travelers decreased. However, the number of travelers would increase during the post-lockdown and the losses would be recovered slowly.

The report offers detailed segmentation of the global wellness tourism market based on service type, location, travelers type, and region.

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Based on service type, the lodging segment accounted for the largest share in 2020, holding around one-fifth of the total share, and is projected to maintain its lead position throughout the forecast period. However, the shopping segment is expected to register the fastest CAGR of 7.8% from 2021 to 2030.

Based on location, the domestic segment held the highest share in 2020, accounting for nearly two-thirds of the global wellness tourism market, and is projected to continue its dominance during the forecast period. However, the international segment is estimated to manifest the highest CAGR of 7.8% from 2021 to 2030.

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Based on region, North America contributed to the highest share in 2020, accounting for nearly two-fifths of the total share, and is expected to continue its leadership status by 2030. However, the Asia-Pacific region is projected to manifest the largest CAGR of 8.5% during the forecast period.

Leading players of the global wellness tourism market analyzed in the research include Accor S.A, Four Seasons Hotels Ltd., Canyon Ranch, Hyatt Hotels Corporation, Hilton Worldwide Holdings Inc., Omni Hotels & Resorts, Marriott International, Inc., Radisson Hospitality, Inc., PRAVASSA, and Rancho La Puerta Inc.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

 

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