Market Analysis : The Spa Industry Essay

800 WordsDec 20, 20154 Pages
MARKET SUMMARY Global statistics. Since the mid-twentieth century, the spa industry has grown significantly around the world. In 2013, the market size of the global wellness industry grew up more than 3.4 trillion U.S. dollars. According to “The Global Spa & Wellness Economy Monitor Report”, the global spa industry generated $94 billion last year. Thermal/mineral springs sector of wellness industry generated $50 billion worldwide. But wellness tourism (or travel associated with maintaining or enhancing health or wellbeing) was the fastest-growing part of the industry for the past few years. The amount of the earning of this part of the industry was equal to 494 billion. For period from 2012 to 2013 number of people that had taking wellness trips grew by 12% according to U.S. spa industry revenue report for 2013 (“ Statistics and facts”, n.d.). The spa industry in the United States generated 14.7 billion U.S. dollars in revenue in 2013 (“ Statistics and facts”, n.d.). There are now over 20,000 spas across the U.S. including day spas where, you can get a single treatment, and spa resorts where you may stay a week or more (“ Statistics and facts”, n.d.). Also there are medical spas that treat cosmetic and chronic health problems. In present time attention to wellness and healthier life style increased significantly. The spa industry seeks to provide services, which will help to heal body, mind, and spirit. Tabacchi (2010) noted, “spa leaders spoke strongly of the need for

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