Global Wellness Institute (GWI) is the only research to answer key questions about the wellness industry.

It finds that the US remains the undisputed goliath in wellness spending.

Its annual market is worth $1.8 trillion and ranks first in 9 of the 11 wellness sectors.

Almost all the top-25 wellness markets have seen strong growth since the pandemic, with the UK, the Netherlands, the US, Mexico, Canada and Australia as standouts, surpassing their pre-pandemic market sizes by 120% or more.

Globally, the wellness economy drives 5.6% of total GDP—so, roughly 1 in every 20 “dollars” spent by consumers worldwide is on wellness.

To put all this wellness spending in context, the research finds that annual, global per capita spending on wellness ($706) is on par with consumer out-of-pocket spending on healthcare ($711).

At the regional level, per capita wellness spending is higher than consumer out-of-pocket spending on healthcare across every region except North America.

And wellness spending per capita is higher than spending on clothing/shoes ($289) and hotels/restaurants ($475) all across the world (Euromonitor data).

In countries like Switzerland, Iceland and the US, people spend far more: on average, over $5,300 a year on wellness.

“For countries interested in growing their wellness economy, it’s crucial to know where they stand in this massive global industry,” said Ophelia Yeung and Katherine Johnston, GWI’s senior research fellows. “It’s also important to see how different countries’ wellness markets have responded to the impacts of the pandemic.”

The report is a companion to GWI’s 2023 Global Wellness Economy Monitor, a complete global update on all 11 wellness sectors, finding that the world wellness economy is worth $5.6 trillion and forecast to reach $8.5 trillion by 2027.

Top 25 National Wellness Markets 

Numbers refer to market size and annual growth rate 2020-2022:

United States       $1.8 trillion—14%

China                   $790 billion—8.9%

Germany              $269 billion—16.8%

Japan                   $241 billion—minus 3.9%

UK                       $224 billion—19.4%

France                 $172 billion—11.6%

India                    $132.5 billion—16.5%

Canada               $128 billion—13.5%

Korea                  $113 billion—9.4%

Italy                     $112 billion—7.9%

Australia              $110 billion—12.9%

Brazil                  $96 billion—18.2%

Russia                $94.5 billion—13.2%

Spain                  $83 billion—12.4%

Mexico                $74 billion—25.2%

Netherlands        $50 billion—12.1%

Switzerland         $50 billion—14.5%

Indonesia            $49 billion—5.9%

Turkey                $45 billion—14%

Taiwan                $43 billion—5.1%

Austria                $42 billion—13.9%

Philippines          $41 billion—8.9%

Poland                $39 billion—11.1%

Thailand             $35 billion—8.5%

Sweden              $30 billion—7.5%

The five largest wellness markets are the US ($1.8 trillion), China ($790 billion), Germany ($269 billion), Japan ($241 billion) and the UK ($224 billion).

The top ten largest markets represent 70% of the global wellness economy; the top 25 represent 86%. The vast majority of the 25 largest wellness markets have seen robust recent growth.

Comparing market sizes in 2019 vs. 2022, 22 of 25 countries (except Thailand, Japan, Brazil) are now larger than they were pre-pandemic, as measured in US dollars.

But it’s important to note that currency depreciation impacts data for countries like Japan, Brazil, and some eurozone countries like Germany, France and Italy.

For instance, the Japanese yen fell by 19.8% against the US dollar in 2022, so if it looks like its wellness market shrank by 3.9% annually from 2020 to 2022 in dollars, it actually grew 6.6% each year when measured in yen.

And with the euro depreciating by 12.3% against the dollar in 2022, if GWI’s data shows that Germany’s wellness economy grew by 16.8% from 2020 to 2022, it grew by 21.7% when measured in euros.

Wellness Spending Per Capita: Top 12 Countries

Seychelles         $8,097

Switzerland        $5,737

Iceland               $5,523

Aruba                 $5,361

United States     $5,321

Austria               $4,683

Australia            $4,218

Norway              $4,197

Denmark            $3,846

New Zealand     $3,689

UK                     $3,342

Canada              $3,287

Spending on wellness is (no surprise) highest in wealthy countries that also rank in the top 25 for GDP per capita, including Switzerland, Iceland, the US, Austria and Australia.

And those countries have seen significant recent growth in wellness spending (per capita): in the US that spend has risen $1,636—and in Switzerland $1,365—from 2020 to 2022.

While it may be surprising to see small countries like the Seychelles and Aruba so high on this list (the Maldives and the Bahamas also rank in the top-25), it’s because these islands are major high-end wellness tourism destinations, with a huge portion (50-90%) of their wellness spending coming from inbound wellness tourists rather than locals.

The impact of the wellness market (heavily dominated by inbound wellness tourism) on these countries’ economies is staggering: in the Seychelles the wellness market accounts for 42% of the total economy, while in the Maldives that number is 22.6%.

The ratio of how much the wellness economy contributes to GDP is highest in North America (6.9%) and Europe (5.8%)—and lowest in the Middle East-North Africa region at 3.3%.

North America and Europe’s wellness markets have been growing faster than the overall economy.

Among the top-25 wellness markets, some of the countries where wellness makes up a bigger percentage of GDP are the Philippines (10.1%), Austria (9%), the UK (7.3%), the US (7%) and South Korea (6.8%).

Research Sponsors: This research was made possible by the generous support of BDMS Wellness Clinic, Conceptasia and Fukui Wellness Collaboration, Therme Group, Blueprint Global, The Philippines Department of Tourism, National Academy of Sports Medicine, The Singapore Tourism Board, AG7, and The Ministry of Tourism and Creative Economy, Republic of Indonesia.

The post GWI ranks the US the undisputed goliath in wellness tourism appeared first on Travel And Tour World.

Global Wellness Institute (GWI) is the only research to answer key questions about the wellness industry.

It finds that the US remains the undisputed goliath in wellness spending.

Its annual market is worth $1.8 trillion and ranks first in 9 of the 11 wellness sectors.

Almost all the top-25 wellness markets have seen strong growth since the pandemic, with the UK, the Netherlands, the US, Mexico, Canada and Australia as standouts, surpassing their pre-pandemic market sizes by 120% or more.

Globally, the wellness economy drives 5.6% of total GDP—so, roughly 1 in every 20 “dollars” spent by consumers worldwide is on wellness.

To put all this wellness spending in context, the research finds that annual, global per capita spending on wellness ($706) is on par with consumer out-of-pocket spending on healthcare ($711).

At the regional level, per capita wellness spending is higher than consumer out-of-pocket spending on healthcare across every region except North America.

And wellness spending per capita is higher than spending on clothing/shoes ($289) and hotels/restaurants ($475) all across the world (Euromonitor data).

In countries like Switzerland, Iceland and the US, people spend far more: on average, over $5,300 a year on wellness.

“For countries interested in growing their wellness economy, it’s crucial to know where they stand in this massive global industry,” said Ophelia Yeung and Katherine Johnston, GWI’s senior research fellows. “It’s also important to see how different countries’ wellness markets have responded to the impacts of the pandemic.”

The report is a companion to GWI’s 2023 Global Wellness Economy Monitor, a complete global update on all 11 wellness sectors, finding that the world wellness economy is worth $5.6 trillion and forecast to reach $8.5 trillion by 2027.

Top 25 National Wellness Markets 

Numbers refer to market size and annual growth rate 2020-2022:

United States       $1.8 trillion—14%

China                   $790 billion—8.9%

Germany              $269 billion—16.8%

Japan                   $241 billion—minus 3.9%

UK                       $224 billion—19.4%

France                 $172 billion—11.6%

India                    $132.5 billion—16.5%

Canada               $128 billion—13.5%

Korea                  $113 billion—9.4%

Italy                     $112 billion—7.9%

Australia              $110 billion—12.9%

Brazil                  $96 billion—18.2%

Russia                $94.5 billion—13.2%

Spain                  $83 billion—12.4%

Mexico                $74 billion—25.2%

Netherlands        $50 billion—12.1%

Switzerland         $50 billion—14.5%

Indonesia            $49 billion—5.9%

Turkey                $45 billion—14%

Taiwan                $43 billion—5.1%

Austria                $42 billion—13.9%

Philippines          $41 billion—8.9%

Poland                $39 billion—11.1%

Thailand             $35 billion—8.5%

Sweden              $30 billion—7.5%

The five largest wellness markets are the US ($1.8 trillion), China ($790 billion), Germany ($269 billion), Japan ($241 billion) and the UK ($224 billion).

The top ten largest markets represent 70% of the global wellness economy; the top 25 represent 86%. The vast majority of the 25 largest wellness markets have seen robust recent growth.

Comparing market sizes in 2019 vs. 2022, 22 of 25 countries (except Thailand, Japan, Brazil) are now larger than they were pre-pandemic, as measured in US dollars.

But it’s important to note that currency depreciation impacts data for countries like Japan, Brazil, and some eurozone countries like Germany, France and Italy.

For instance, the Japanese yen fell by 19.8% against the US dollar in 2022, so if it looks like its wellness market shrank by 3.9% annually from 2020 to 2022 in dollars, it actually grew 6.6% each year when measured in yen.

And with the euro depreciating by 12.3% against the dollar in 2022, if GWI’s data shows that Germany’s wellness economy grew by 16.8% from 2020 to 2022, it grew by 21.7% when measured in euros.

Wellness Spending Per Capita: Top 12 Countries

Seychelles         $8,097

Switzerland        $5,737

Iceland               $5,523

Aruba                 $5,361

United States     $5,321

Austria               $4,683

Australia            $4,218

Norway              $4,197

Denmark            $3,846

New Zealand     $3,689

UK                     $3,342

Canada              $3,287

Spending on wellness is (no surprise) highest in wealthy countries that also rank in the top 25 for GDP per capita, including Switzerland, Iceland, the US, Austria and Australia.

And those countries have seen significant recent growth in wellness spending (per capita): in the US that spend has risen $1,636—and in Switzerland $1,365—from 2020 to 2022.

While it may be surprising to see small countries like the Seychelles and Aruba so high on this list (the Maldives and the Bahamas also rank in the top-25), it’s because these islands are major high-end wellness tourism destinations, with a huge portion (50-90%) of their wellness spending coming from inbound wellness tourists rather than locals.

The impact of the wellness market (heavily dominated by inbound wellness tourism) on these countries’ economies is staggering: in the Seychelles the wellness market accounts for 42% of the total economy, while in the Maldives that number is 22.6%.

The ratio of how much the wellness economy contributes to GDP is highest in North America (6.9%) and Europe (5.8%)—and lowest in the Middle East-North Africa region at 3.3%.

North America and Europe’s wellness markets have been growing faster than the overall economy.

Among the top-25 wellness markets, some of the countries where wellness makes up a bigger percentage of GDP are the Philippines (10.1%), Austria (9%), the UK (7.3%), the US (7%) and South Korea (6.8%).

Research Sponsors: This research was made possible by the generous support of BDMS Wellness Clinic, Conceptasia and Fukui Wellness Collaboration, Therme Group, Blueprint Global, The Philippines Department of Tourism, National Academy of Sports Medicine, The Singapore Tourism Board, AG7, and The Ministry of Tourism and Creative Economy, Republic of Indonesia.

The post GWI ranks the US the undisputed goliath in wellness tourism appeared first on Travel And Tour World.

Greeting visitors this May, Firefall Ranch presents an unmatched combination of rural style, extraordinary nature-forward experiences along with sustainable travel follows, everything within minutes of Yosemite’s well-known northwest entrance.

An inviting sanctuary for astute travelers, Firefall Ranch contains 55 thoughtfully crafted, stand-alone cottages and villas spread amid 300 acres of tranquil meadowland and woody rolling hills. The name of the Ranch gets its motivation from the keenly projected natural wonder of Firefall — a yearly occurrence that happens in renowned Yosemite Valley when every February, the sunlight streams flawlessly through the thin torrent of water at Horsetail Fall, changing it into a spectacular, sizzling orange brook over the sheer face of iconic El Capitan.

Resort Manager Joe Juszkiewicz said that they couldn’t be happier to launch this exclusive, one-of-a-kind resort. The superb owners made use of their high-end building knowledge and emptied their heart and soul into making a fabulous, enduring, cherished lodge with traditional woodworking and fittings all over.

Firefall Ranch offers guests embracing a world far from the ordinary, presenting not only lodgings but a secluded and all-encompassing association with the adjoining natural loveliness of Yosemite.

The post Firefall Ranch presents unmatched rural charm and natural wonder appeared first on Travel And Tour World.

Greeting visitors this May, Firefall Ranch presents an unmatched combination of rural style, extraordinary nature-forward experiences along with sustainable travel follows, everything within minutes of Yosemite’s well-known northwest entrance.

An inviting sanctuary for astute travelers, Firefall Ranch contains 55 thoughtfully crafted, stand-alone cottages and villas spread amid 300 acres of tranquil meadowland and woody rolling hills. The name of the Ranch gets its motivation from the keenly projected natural wonder of Firefall — a yearly occurrence that happens in renowned Yosemite Valley when every February, the sunlight streams flawlessly through the thin torrent of water at Horsetail Fall, changing it into a spectacular, sizzling orange brook over the sheer face of iconic El Capitan.

Resort Manager Joe Juszkiewicz said that they couldn’t be happier to launch this exclusive, one-of-a-kind resort. The superb owners made use of their high-end building knowledge and emptied their heart and soul into making a fabulous, enduring, cherished lodge with traditional woodworking and fittings all over.

Firefall Ranch offers guests embracing a world far from the ordinary, presenting not only lodgings but a secluded and all-encompassing association with the adjoining natural loveliness of Yosemite.

The post Firefall Ranch presents unmatched rural charm and natural wonder appeared first on Travel And Tour World.

The inaugural UNWTO Communication, Media, and Tourism Training in Africa Workshop took place in collaboration with the Ministry of Tourism and Hospitality Industry of Zimbabwe and the Zimbabwe Tourism Authority (ZTA) against the stunning backdrop of Victoria Falls. The event unfolded from November 13 to 15, 2023, gathering professionals in tourism, journalists, and communication specialists from 20 countries across Africa.

During the three-day workshop, the focus was on exploring opportunities to integrate tourism into mainstream discussions and addressing the ongoing challenges faced by communities, destinations, and the African region as a whole.

Despite the increasing media attention on African tourism in recent years, persistent perceptual barriers and stereotypes continue to impact the continent’s image, hindering the tourism sector from realizing its full potential. The workshop emphasized the importance of effective communication campaigns and innovative marketing strategies to reshape the narrative around Africa, showcasing its unique beauty and attractions with the aim of positioning the continent as a premier global destination.

Led by high-level international experts from various media domains and accomplished content creators, the intensive training program equipped participants with valuable tools to enhance their communication and media literacy skills. Emphasis was placed on leveraging digital and social media platforms to better promote and brand their respective destinations.

The workshop blended theoretical discussions with practical group activities, including case studies and field trips. These activities underscored the significance of culture, heritage, wildlife conservation, and community engagement for the sustainable development of tourism.

The culmination of the training session featured a ceremony where certificates were awarded to the attendees, marking the successful completion of the program.

The post UNWTO workshop on Media and Tourism training in Victoria Falls, Zimbabwe appeared first on Travel And Tour World.

The inaugural UNWTO Communication, Media, and Tourism Training in Africa Workshop took place in collaboration with the Ministry of Tourism and Hospitality Industry of Zimbabwe and the Zimbabwe Tourism Authority (ZTA) against the stunning backdrop of Victoria Falls. The event unfolded from November 13 to 15, 2023, gathering professionals in tourism, journalists, and communication specialists from 20 countries across Africa.

During the three-day workshop, the focus was on exploring opportunities to integrate tourism into mainstream discussions and addressing the ongoing challenges faced by communities, destinations, and the African region as a whole.

Despite the increasing media attention on African tourism in recent years, persistent perceptual barriers and stereotypes continue to impact the continent’s image, hindering the tourism sector from realizing its full potential. The workshop emphasized the importance of effective communication campaigns and innovative marketing strategies to reshape the narrative around Africa, showcasing its unique beauty and attractions with the aim of positioning the continent as a premier global destination.

Led by high-level international experts from various media domains and accomplished content creators, the intensive training program equipped participants with valuable tools to enhance their communication and media literacy skills. Emphasis was placed on leveraging digital and social media platforms to better promote and brand their respective destinations.

The workshop blended theoretical discussions with practical group activities, including case studies and field trips. These activities underscored the significance of culture, heritage, wildlife conservation, and community engagement for the sustainable development of tourism.

The culmination of the training session featured a ceremony where certificates were awarded to the attendees, marking the successful completion of the program.

The post UNWTO workshop on Media and Tourism training in Victoria Falls, Zimbabwe appeared first on Travel And Tour World.

As India anticipates the Union Budget 2024, Madhavan Menon, Executive Chairman of Thomas Cook India Ltd., underscores the pivotal role of the Travel & Tourism sector. Constituting 5.8% of India’s GDP in 2022, the sector aims to reach a $1 trillion mark by 2047. Menon’s expectations echo the sector’s aspirations for transformation and growth.

Menon emphasizes the necessity of infrastructural development, advocating for the establishment of new airports through private participation to facilitate a robust hub-and-spoke model. He highlights the importance of expanding transportation networks, including rail, road, and waterways, to foster accessibility to high-demand destinations like religious circuits and lesser-known treasures such as Lakshadweep.

In addressing inbound tourism, Menon calls for the revival of the Inbound incentive scheme, albeit for select destinations. He proposes adjustments in taxation policies to stimulate domestic and foreign travel, advocating for reduced income tax levels to enhance disposable income for travel expenditures. Additionally, he suggests standardizing Tax Collection at Source (TCS) rates on foreign travel packages and clarifying TCS procedures on Forex card payments.

On the GST front, Menon urges for the facilitation of GST input credit for both inbound and domestic tourism, streamlining compliance mechanisms, and centralizing issues faced by assesses across multiple states to mitigate administrative burdens and legal complexities.

In summary, Thomas Cook India and SOTC Travel’s expectations for the Union Budget 2024 revolve around infrastructural enhancements, tax reforms, and simplification of GST processes to propel India towards becoming a premier global destination.

The post Union Budget 2024: Thomas Cook India & SOTC Travel’s Expectations appeared first on Travel And Tour World.

As India anticipates the Union Budget 2024, Madhavan Menon, Executive Chairman of Thomas Cook India Ltd., underscores the pivotal role of the Travel & Tourism sector. Constituting 5.8% of India’s GDP in 2022, the sector aims to reach a $1 trillion mark by 2047. Menon’s expectations echo the sector’s aspirations for transformation and growth.

Menon emphasizes the necessity of infrastructural development, advocating for the establishment of new airports through private participation to facilitate a robust hub-and-spoke model. He highlights the importance of expanding transportation networks, including rail, road, and waterways, to foster accessibility to high-demand destinations like religious circuits and lesser-known treasures such as Lakshadweep.

In addressing inbound tourism, Menon calls for the revival of the Inbound incentive scheme, albeit for select destinations. He proposes adjustments in taxation policies to stimulate domestic and foreign travel, advocating for reduced income tax levels to enhance disposable income for travel expenditures. Additionally, he suggests standardizing Tax Collection at Source (TCS) rates on foreign travel packages and clarifying TCS procedures on Forex card payments.

On the GST front, Menon urges for the facilitation of GST input credit for both inbound and domestic tourism, streamlining compliance mechanisms, and centralizing issues faced by assesses across multiple states to mitigate administrative burdens and legal complexities.

In summary, Thomas Cook India and SOTC Travel’s expectations for the Union Budget 2024 revolve around infrastructural enhancements, tax reforms, and simplification of GST processes to propel India towards becoming a premier global destination.

The post Union Budget 2024: Thomas Cook India & SOTC Travel’s Expectations appeared first on Travel And Tour World.

In the wake of Union Budget 2024, Vishal Suri, MD of SOTC Travel, advocates for a multi-pronged strategy to propel the tourism sector, a pivotal contributor to India’s GDP and employment landscape. Suri emphasizes the need for a comprehensive approach to leverage the budget as a catalyst for growth.

The budget presents a prime opportunity to bolster the travel and tourism industry, vital for economic prosperity and job creation. SOTC Travel proposes several key initiatives to harness this potential effectively.

Firstly, there is a plea to rationalize the Tax Collected at Source (TCS) rate on outbound tours. Consolidating the TCS rate into a single 5% slab would mitigate the competitive advantage enjoyed by international counterparts, thereby fostering a level playing field for domestic operators.

Secondly, the removal of the Tax Deducted at Source (TDS) on automated bookings, particularly for business travel platforms, is advocated. This move aligns with the government’s vision of promoting digital adoption and ease of doing business, essential for a thriving digital economy.

Moreover, SOTC Travel highlights the imperative of prioritizing infrastructure development, especially the expansion of the Udan Yojana and Vande Bharat routes. Enhancing connectivity to remote yet promising tourism destinations not only stimulates economic activity but also creates employment opportunities, fostering inclusive growth.

Furthermore, the call for incentivizing sustainable tourism practices underscores the industry’s commitment to environmental stewardship and responsible travel. Encouraging eco-friendly initiatives is pivotal in safeguarding natural resources and promoting sustainable tourism models for future generations.

In conclusion, SOTC Travel urges policymakers to adopt a holistic approach towards tourism development in the Union Budget 2024. By addressing key concerns and implementing strategic measures, India can unlock the full potential of its tourism sector, driving economic growth and fostering social inclusivity.

The post Union Budget 2024: SOTC Travel urges multi-pronged approach for tourism growth appeared first on Travel And Tour World.

In the wake of Union Budget 2024, Vishal Suri, MD of SOTC Travel, advocates for a multi-pronged strategy to propel the tourism sector, a pivotal contributor to India’s GDP and employment landscape. Suri emphasizes the need for a comprehensive approach to leverage the budget as a catalyst for growth.

The budget presents a prime opportunity to bolster the travel and tourism industry, vital for economic prosperity and job creation. SOTC Travel proposes several key initiatives to harness this potential effectively.

Firstly, there is a plea to rationalize the Tax Collected at Source (TCS) rate on outbound tours. Consolidating the TCS rate into a single 5% slab would mitigate the competitive advantage enjoyed by international counterparts, thereby fostering a level playing field for domestic operators.

Secondly, the removal of the Tax Deducted at Source (TDS) on automated bookings, particularly for business travel platforms, is advocated. This move aligns with the government’s vision of promoting digital adoption and ease of doing business, essential for a thriving digital economy.

Moreover, SOTC Travel highlights the imperative of prioritizing infrastructure development, especially the expansion of the Udan Yojana and Vande Bharat routes. Enhancing connectivity to remote yet promising tourism destinations not only stimulates economic activity but also creates employment opportunities, fostering inclusive growth.

Furthermore, the call for incentivizing sustainable tourism practices underscores the industry’s commitment to environmental stewardship and responsible travel. Encouraging eco-friendly initiatives is pivotal in safeguarding natural resources and promoting sustainable tourism models for future generations.

In conclusion, SOTC Travel urges policymakers to adopt a holistic approach towards tourism development in the Union Budget 2024. By addressing key concerns and implementing strategic measures, India can unlock the full potential of its tourism sector, driving economic growth and fostering social inclusivity.

The post Union Budget 2024: SOTC Travel urges multi-pronged approach for tourism growth appeared first on Travel And Tour World.