Wellness Tourism Market to Booming Anticipated Grow at 7.2% CAGR Revenue to Cross $1,592.6 Billion by 2030

The domestic segment held the major share of 65.1% of the market in 2020.

WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, March 14, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, Wellness Tourism Market by Service Type, Location, Travelers Type: Global Opportunity Analysis and Industry Forecast, 2021–2030″. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. The global wellness tourism market size was valued at $801.6 billion in 2020, and is projected to reach $1,592.6 billion by 2030, registering a CAGR of 7.2% from 2021 to 2030.

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The Ministry of Tourism has taken many measures to market India as a destination for medical and wellness tourism. The Ministry has established a National Medical and Wellness Tourism Board, with the Minister (Tourism) as its Chairman, to further the cause of promoting medical tourism, wellness tourism, and Ayurveda tourism.

The wellness tourism market is fueled by several factors, including the expanding global middle class, a growing consumer inclination towards adopting healthier lifestyles, a surge in interest in experiential travel, and the increasing affordability of flights and travel options. Europe remains the primary destination for a significant number of wellness trips, while North America leads in expenditure on wellness tourism. The Asia-Pacific region has experienced notable growth in both the number of wellness trips taken and expenditure on wellness tourism, driven by robust economies and an expanding middle class.

Both the tourism industry and the overall wellness economy are projected to outpace the growth rate of the global economy. Wellness tourism occupies a crucial intersection between these two sectors, offering significant opportunities for various stakeholders, including the hospitality industry, wellness businesses, and the residents and governments of destination countries and regions, to reap substantial benefits from this burgeoning market.

Traveling to preserve or improve one’s health is known as Wellness tourism. It is driven by a desire to live a healthy lifestyle, avoid sickness, reduce stress, control distressing lifestyle behaviors, and/or have authentic experiences will stop consumers may reclaim travel as a source of leisure, renewal, exploration, joy, and self actualization by working with the wellness sector. Wellness tourism, which encompasses the promotion of health and personal well-being via different physical, psychological, and spiritual activities, is a result of this shift in preference. It also covers transportation, housing, food and beverage, shopping, and other services food.

A draft for the 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 requested feedback/comments/suggestions on the draft national strategy and road map from designated Central Ministries, all State Governments/UT Administrations, and industry players to make the document more comprehensive. On the other hand, the global Wellness institute launched a Wellness tourism initiative to raise awareness, knowledge, and possibilities in one of the fastest growing areas of global tourism.

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With the rise of wellness tourism, Ayurveda institutes, hostel, and hospitality chains such as Airbnb, wellness centers/resorts, have experienced an increase in appointments and requests. According to internet booking portals, daily reservations at wellness resorts and institutes have increased by 1000 percent. As indicated by Airbnb, there has been an expanding interest in rural destinations. With the expanded speed of immunization, individuals are willing to embrace their usual travel. Yet, the majority of tourists are probably going to hit the homegrown and provincial places of interest.

In the U.S., the travel industry is by all accounts confined inside homegrown limits. Explorers in the U.S. like to visit outlandish areas inside the U.S. and have no plans for the global travel industry. The interest for urban communities and rural regions such as mountains, lakes, and beachfront destinations is on the ascent in the U.S. due to the rising travel costs in well-known traveling destinations.

Tavistock Development Company announced an intention to build innovative wellness, performance, and medically integrated exercise center in Lake Nona, Orlando. The medical integrated exercise center will be built in collaboration with Signet LLC and its subsidiary Integrated Wellness Partners (IWP). The new wellness campus is anticipated to be one of the largest in the country, with a wide range of health and wellness offerings. The new wellness campus is to be one of the most extensive in the regions, giving a wide scope of wellbeing, health benefit programs, and administrations for the entire community.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞:

• Accor S.A
• Canyon Ranch
• Four Seasons Hotels Ltd.
• Hilton Worldwide Holdings Inc.
• Hyatt Hotels Corporation
• Marriott International Inc.
• Omni Hotels & Resorts
• PRAVASSA
• Radisson Hospitality Inc.
• Rancho La Puerta Inc.

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𝐊𝐞𝐲 𝐛𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐟𝐨𝐫 𝐬𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬:

○ The report provides quantitative analysis of the current wellness tourism market trends, estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing wellness tourism market opportunity.
○ Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
○ In-depth analysis and the market size & segmentation assist to determine the market potential.
○ The major countries in each region are mapped according to their revenue contribution to the market.
○ The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the wellness tourism market.

𝐑𝐞𝐚𝐬𝐨𝐧𝐬 𝐭𝐨 𝐛𝐮𝐲 𝐖𝐞𝐥𝐥𝐧𝐞𝐬𝐬 𝐓𝐨𝐮𝐫𝐢𝐬𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:

• Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
• Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
• Classify potential new clients or partners in the target demographic.
• Develop tactical initiatives by understanding the focus areas of leading companies.
• Plan mergers and acquisitions meritoriously by identifying Top Manufacturer.
• Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and Scope.
• Report will be updated with the latest data and delivered to you within 2-4 working days of order.
• Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
• Create regional and country strategies on the basis of local data and analysis.

𝐅𝐫𝐞𝐪𝐮𝐞𝐧𝐭𝐥𝐲 𝐀𝐬𝐤𝐞𝐝 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬?

Q1. What will be the Wellness Tourism market Size From 2021 to 2030?
Q2. What is the CAGR of Wellness Tourism?
Q3. How can I get sample report of Wellness Tourism?
Q4. Which are the top companies in the Wellness Tourism industry?
Q5. What are the segments of Wellness Tourism market?
Q6. Which is base year calculated in the Wellness Tourism market report?
Q7. How the major currents trends will be shape the market in the future?
Q8. Which region holds the maximum market share of the Global Wellness Tourism market?

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 “𝐀𝐌𝐑 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

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Allied Market Research
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