The fast-growing and relatively new global spa economy is estimated to now be worth more than $255 billion, according to a major report.
â€Prepared by SRI International on behalf of The Global Spa Summit, the first- ever Global Spa Economy Report represents the most comprehensive effort yet to quantify the rapidly expanding global spa industry,†the report says.
The report’s estimate, which looked at the year 2007, includes $60.3 billion in core spa industry revenues, such as spa facilities, capital investments, education, consulting, media, associations, and events, and $194 billion in spa-related hospitality, tourism, and real estate.
When broader spa-related industries such as beauty, nutrition, and fitness were factored into the equation, last year’s global health and wellness market exceeded $1 trillion, according to the report. The one-year snapshot makes the spa sector one of the first industries to organize at a global level and analyze its own worldwide impact.
The report also found 71,600 spas worldwide in 2007.
“The spa industry is growing at a breakneck pace, but its diversity and scope have always made it difficult to quantify its size and financial strength, as well as to harness the full power of its collaborative voice,” said SpaFinder CEO Pete Ellis. He added:
“For the first time ever, this report shows decision-makers from investors to policymakers to the industry’s own leaders just how big the industry is, and how integral it is to the global economy.”
In a breakdown of spa revenues by nation, the United States emerges on top, with earnings of more than $12 billion, followed by Japan ($5.7 billion) and Germany ($3.8 billion). The list continues with France, Italy, the United Kingdom, and China.
The report’s findings derive from interviews with over 50 high-level industry
executives; 1,000 responses to a global survey of industry sources; and data
collected from more than 210 countries – ten times more than in previous spa
industry reviews.
Report by David Wilkening
