According to a new report published by Allied Market Research, titled, “Wellness Tourism Market by Service Type, Location, and Travelers Type: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.
The global wellness tourism market size was valued at $801.6 billion in 2020, and is projected to reach $1,592.6 billion by 2030, registering a CAGR of 7.2% from 2021 to 2030.
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.
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.
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.
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
• Rancho La Puerta Inc.
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