The global health and wellness market is expected to be worth around USD 8,379 Billion in 2032, up from USD 4,332 Billion in 2023, growing at a CAGR of 7%. According to a market.us report, the younger generation, who are increasingly affected by the rising incidence of mental illnesses such as anxiety and depression, is the driving force behind this growth.
Health and wellness encompass the complete mental, physical, and spiritual well-being of a person. Services based on wellness tourism, such as health spas, wellness real estate, and mineral and thermal springs have become an essential part of the industry’s operations.
Stress-related disorders such as diabetes, high blood pressure, and cancer have significantly increased due to sedentary lifestyles and busy schedules. As a result, a wide range of health-related practices, such as meditation, yoga, and sports, have become popular.
Awareness of mental health and well-being is prompting more travelers to search for wellness retreats that provide stress relief through mindfulness, meditation, and other activities. Tourists are drawn to destinations offering outdoor activities and ecotourism or wellness retreats within natural settings.
Along with the rising awareness about the significance of maintaining good mental health and well-being, there is also an increasing demand for luxurious travel experiences that emphasize wellness.
Asia-Pacific is one of the fastest-growing regions in the wellness tourism market because of rising disposable incomes, increasing awareness about health and wellness, and the growing middle class. Some famous destinations in this region include Bali, Thailand, and India.