The Composition of the Wellness Economy Varies Dramatically Across Countries
The GWI’s recent research report ranks nations by their annual spend on wellness—and is the first research to provide the big “wellness number” for 150 countries. But industries develop very differently in different places (with different historical, cultural and socio-economic realities)—and that’s especially true for wellness. So, while healthy eating, physical activity and beauty/personal care make up the bulk of the wellness market for most counties, how important each of the 11 wellness sectors are for different nations varies dramatically.
For instance, in Japan beauty/personal care represents a much bigger share of the wellness pie; in China, with its long history of Traditional Chinese Medicine, traditional & complementary medicine, represents a very large portion of the market, while mental wellness and beauty is significantly smaller; in Mexico and Indonesia, the healthy eating sector is much larger than average; in Germany, wellness tourism, spas, and thermal/mineral springs are much larger players; and India, Indonesia, Russia, and Turkey all have outsized traditional & complementary medicine sectors.
Understanding the make-up of national wellness markets helps spot opportunities and needs. Check out how the world’s five largest—and seven major emerging—markets compare.