The wellness tourism market size is expected to reach a value of approximately $1,592.6 billion by 2030
According to the wellness tourism market analysis, the market is segmented on the basis of type of service, location, type of travelers and region.
5933 NE WIN SIVERS DRIVE, PORTLAND, OR, USA, September 14, 2022 /EINPresswire.com/ — According to a new report, “Wellness tourism market By Service Type, Location, Traveler Type: Global Opportunity Analysis and Industry Forecast, 2021-2030″. The report offers in-depth analysis of changing market trends, key segments, major pockets of investment, the regional scenario, Porter’s five forces and the competitive scenario.
The global wellness tourism market size was valued at USD 801.6 Billion in 2020 and is projected to reach USD 1,592.6 Billion by 2030, registering a CAGR of 7.2% from 2021 to 2030. In 2020, the accommodation segment accounted for the highest share of wellness tourism. market.
The Ministry of Tourism has taken many steps to market India as a destination for medical and wellness tourism. The Ministry has established a National Medical and Wellness Tourism Council, with the Minister (Tourism) as its Chairman, to further the cause of promoting medical tourism, wellness tourism and Ayurvedic tourism.
Traveling to maintain or improve health is known as wellness tourism. It is motivated by a desire to lead a healthy life, avoid illness, reduce stress, control distressing lifestyle behaviors and/or have authentic experiences. working with the wellness sector. Wellness tourism, which encompasses the promotion of health and personal well-being through different physical, psychological and spiritual activities, is the result of this shift in preference. It also covers transportation, accommodation, food and beverage, shopping, and other food services.
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A draft national strategy and roadmap for medical and wellness tourism has been developed by the Ministry of Tourism for the proper functioning of the wellness tourism sector. The Ministry of Tourism has sought comments/comments/suggestions on the draft National Strategy and Roadmap from designated Central Ministries, all State Governments/UT Administrations and industry stakeholders to make the more comprehensive document. On the other hand, the Global Wellness Institute has launched a Wellness Tourism Initiative to increase awareness, knowledge and opportunity in one of the fastest growing areas of global tourism.
With the rise of wellness tourism, Ayurvedic institutes, hostels and hotel chains such as Airbnb, wellness centers/resorts, have seen an increase in appointments and requests. According to online booking portals, daily bookings at wellness centers and institutes have increased by 1000%. As reported by Airbnb, there has been growing interest in rural destinations. With the increased speed of vaccination, individuals are ready to undertake their usual journeys. Yet the majority of tourists are likely to visit local and provincial landmarks.
Tavistock Development Company has announced plans to build an innovative medically integrated wellness, performance and exercise center in Lake Nona, Orlando. The integrated medical exercise center will be built in conjunction with Signet LLC and its subsidiary Integrated Wellness Partners (IWP). The new wellness campus is expected to be one of the largest in the country, with a wide range of health and wellness offerings. The new wellness campus will be one of the largest in the region, offering a wide range of wellness programs, health benefits and administration for the entire community.
In the United States, the travel industry is obviously confined within local boundaries. Explorers in the United States like to visit extravagant regions within the United States and have no plans for the global travel industry. Interest in urban communities and rural areas such as mountains, lakes, and seaside destinations is on the rise in the United States due to rising travel costs in well-known travel destinations.
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According to the European Travel Commission (ETC), European holidaymakers have an uplifting view of the travel industry. Either way, explorers fear getting sick or contracting COVID-19 infection at their destination. ETC further added that a large portion of holidaymakers like to travel within Europe and that around 65% of tourists prefer leisure trips and 20% plan to visit companions and members. of the family.
Key Players profiled in this report are Accor SA, Canyon Ranch, Four Seasons Hotels Ltd., Hilton Worldwide Holdings Inc., Hyatt Hotels Corporation, Marriott International, Inc., Omni Hotels & Resorts, PRAVASSA, Radisson Hospitality, Inc. and Rancho LaPuerta Inc.
Main results of the study:
○ By type of service, the accommodation segment held the highest share, accounting for 20.6% of the global wellness tourism industry in 2020.
○ Based on location, the domestic segment held the bulk of 65.1% of the market in 2020.
○ Based on traveler type, the core segment is witnessing an exponential growth rate of 8.7% over the forecast period
○ North America held the major share of the market and is expected to remain dominant during the forecast period.
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