It’s no surprise, wellness is here to stay. We all knew it. And the Global Wellness Institute (GWI), a leading global research and wellness industry nonprofit, just released the data to prove it.
The comprehensive 100-page report on the wellness industry, The Global Wellness Economy Monitor Report: 2023, was recently revealed at this year’s annual Global Wellness Summit in Miami. The upshot is that the global wellness economy is not only well on its way to recovery after the shock waves of the pandemic, it is surging. Not only is that a very good thing, it is exactly what we all need to hear right now. A 2023 survey released by the American Psychological Association showed that three-quarters of adults say their stress levels have increased over the past year.
In the report, GWI forecasts that the consumers will continue to increase spending on wellness, and the global wellness economy will grow at an annual rate of 8.6 percent. By the end of this year, it will reach $6.3 trillion, $7.4 trillion in 2025, and $8.5 trillion in 2027, which is almost double its size in 2020.
The biggest growth rates since 2020 were seen in these wellness markets: wellness tourism (36 percent annual growth); spas (22 percent); physical activity (14 percent); and mental wellness (12.5 percent).Through 2027, some of the largest gains will be seen in wellness real estate (17.4 percent annual growth), wellness tourism (16.6 percent), thermal/mineral springs (14.3 percent); and mental wellness (12.8 percent).
The GWI Report took 10 months to complete. Research was led by Ophelia Yeung, senior research fellow, Global Wellness Institute, who holds a post-graduate degree from Princeton University, and Katherine Johnston, senior research fellow, Global Wellness Institute, with a post-graduate degree from Georgetown. The long-time economists have worked in research, consulting, and public policy in dozens of countries, working for multinational organizations, companies and governments, in economic development. They initiated their wellness research 15 years ago, in 2008, when they first started working with the Global Wellness Summit to measure the size of the global spa industry.
Here is Yeung and Johnston’s fascinating insight on what the wellness market will look like over the next few years, and why.
The wellness economy consists of eleven industry sectors that enable and support people to live a healthy lifestyle, to prevent disease and to move toward a state of holistic health. What we measure as the $5.6 trillion global wellness economy captures the massive global consumer marketplace that has arisen to provide people with access to a mind-boggling array of products, services, and experiences to support their wellness and
The website maxtravelz.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
A sweeping storm system is impacting much of the United States on this, the final day of the busy Thanksgiving holiday travel weekend. Nearly 14 million people found themselves under various winter weather alerts on Sunday, according to The New York Times.
One of the biggest impediments to recovery so far has been a lack of airline capacity and competition. Conditions are gradually improving, which is expected to benefit travellers as the year progresses, but the concern remains regarding the lack of available seats on services between Australia and Europe, via the Middle East.
Turkish celebrity chef and entrepreneur Nusret Gökçe is breaking records again by opening his first Saltbae Burger restaurant at Istanbul International Airport (also referred to as Istanbul Grand Airport). Opened this past week with seating for nearly 200 people, it becomes one of the largest restaurants at the airport. The new outlet is just one part of a master strategy to grow the brand, a disrupter in the fast-casual burger category, internationally. Around 40 new locations are in the works, including about ten in major global airports.
Authorities suspended international flights at one airport and closed four bridges between the U.S. and Canada in the Niagara Falls area following an incident where a vehicle crashed and exploded on impact on the Rainbow Bridge.
The Mandarin Oriental, New York is an ideal choice for travelers who want to enjoy a city escape—one that couples the best of bustling Manhattan with the luxury of a cocoon-like pied-ȧ-terre elevated high above the ground.
An earthen circle large enough to contain the Empire State Building on its side. An octagonal earthwork capable of holding four Roman Coliseums. A vast hilltop enclosure overlooking a dramatic river gorge.
A pre-Thanksgiving storm that may bring severe thunderstorms, gusty winds, heavy rain and snow as it tracks from the central to the eastern United States early this week could disrupt holiday travel, forecasters said.
MaxTravelz - your ultimate travel companion! Discover a world of exploration and inspiration with our ultimate travel guide. Whether you're an avid globetrotter or an inquisitive adventurer, join us to ignite your wanderlust and maximize your journeys. Dive into a diverse range of blogs, articles, and travel guides offering practical tips, insider advice, and personal narratives. Uncover captivating destinations, from hidden gems to iconic landmarks, and embrace thrilling adventures. Connect with a vibrant community of like-minded travelers, share your own stories, and embark on a journey of cultural immersion and self-discovery. Start your travel adventure today and unlock boundless inspiration.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6