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    Wellness tourism market worth $1.02 trillion by 2030

    June 28, 2022
    Tourism News
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    Wellness tourism market worth $1.02 trillion by 2030

    Travel BizNews —

    The global wellness tourism market size is expected to reach USD 1.02 trillion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.93% from 2022 to 2030.

    Increasing patient awareness regarding health and wellbeing and personal care will be one of the major drivers for the market. Promotional campaigns arranged by various governments are also encouraging wellness tourism across the globe, according to a release issued by Grand View Research .

    Wellbeing services offered by players help customers find solutions to improve or maintain their health and wellbeing. The rising number of health-conscious people is contributing to the increasing demand for wellness activities at popular travel destinations.

    In terms of service, the lodging segment dominated the market in 2021. This can be attributed to the rapid expansion of large hotel chains that provide exotic therapies including rejuvenation programs, spa treatments, and other services.

    Based on travel type, the domestic segment accounted for the maximum revenue share in 2021. This can be attributed to the increased expenditure by domestic tourists on wellness activities.

    North America is estimated to dominate the market throughout the forecast period. This can be attributed to the high demand for physical and mental health, increasing disposable income, and growing awareness about spa benefits.

    “The increase in lifestyle-related diseases such as diabetes, obesity, and high cholesterol due to busy work schedules and sedentary lifestyles is propelling the market growth. The market is heavily influenced by factors such as increasing awareness regarding healthcare tourism and the rising burden of disease. Furthermore, the growing prevalence of mental illnesses such as depression and anxiety, rise in disposable income, increasing adoption of online travel services, growing influence of social media, and raised government investment to attract tourists are propelling the market growth,” according to Grand View Research, U.S.-based market research and consulting company.

    27 June, 2022

    Photo: PGA National Resort & Spa located in Palm Beach, Florida. (Pic – Wellness Tourism Worldwide)

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