GWI’s recent “Global Spa & Wellness Economy Barometer” had some staggering findings: the ten-sector wellness market is now a $3.4 trillion market. Some context: it’s 3.4 times bigger than the $1 trillion, global pharmaceutical industry. But what sectors of the vast wellness market are growing FASTEST?
WHAT’S MAKING NEWS IN GERMANY WHEN IT COMES TO WELLNESS?
Spa and wellness travel is still on the rise; the wellness market in Germany continues to grow, and most wellness hotels can boast an increase in revenue. Spa and wellness travel is still on the rise; the wellness market in Germany continues to grow, and most wellness hotels can boast an increase in revenue. On the other hand, there are multiple challenges: a shortage of qualified staff, especially therapists; an increase in costs, from food to energy; and last but not least, more competition in the market.
2015: THE YEAR OF THE MINISTRY OF WELLNESS?
Feel ill? Head to the doctor. Get diagnosed. Treat the issue. (Also known as: Douse with meds. Take a few days off work. Stumble back to the office. Repeat.) Sound familiar?
For too long, discussions about wellness have centered on traditional medical treatments, and Western healthcare systems have maintained a focus on illness and disease, making our hospitals and clinics more like “fix-it shops” than agents of prevention.
UNDERSTANDING THE BUSINESS OF WELLNESS
Growing the $3.4 trillion wellness industry was the topic under discussion at a recent gathering of 17 executives from leading wellness-related companies and organizations. The lively roundtable discussion took place at the French Embassy in New York City on November 19.
