2017 Global Wellness Economy
Not only should we think of health holistically, instead of reactive disease management, we need to think about a global wellness economy. Just as healthcare must move beyond the walls of a clinic, wellness is not limited to the borders of a country. When we broaden our thinking to encompass wellness expenditures globally, we can see huge opportunities for better health and commerce.
The global wellness industry grew 12.8% in the last two years, from a $3.7 trillion market in 2015 to $4.2 trillion in 2017, according to an in-depth research report, the 2018 Global Wellness Economy Monitor, released today by the nonprofit Global Wellness Institute (GWI). This all-new data on the ten markets that comprise the global wellness economy provides fresh evidence that wellness remains one of the world’s biggest and fast-growing industries.
Economic context:
*From 2015-2017, the wellness economy grew 6.4% annually, nearly twice as fast as global economic growth (3.6%).
*Wellness expenditures ($4.2 trillion) are now more than half as large as total global health expenditures ($7.3 trillion).
*The wellness industry now represents 5.3% of global economic output.
The report was released today at the 12th annual Global Wellness Summit being held at Technogym Village in Cesena, Italy, which has attracted 630+ industry leaders from 50 nations.
The 2018 edition features more global, regional and national data and analysis than ever before – from the fact that Europe is the fastest growing spender on workplace wellness to the finding that China and India are the fastest growing wellness tourism markets.
Among the ten wellness markets analyzed, revenue growth leaders from 2015-2017 (per annum) were: 1) the spa industry (9.8%), 2) wellness tourism (6.5%) and 3) wellness real estate (6.4%). For the complementary medicine market, the definition changed since 2015 (adding traditional medicine sectors like Ayurveda, Traditional Chinese Medicine), so a formal percentage growth rate can’t be provided.
For more information please see: Wellness Now a $4.2 Trillion Global Industry – Global Wellness Institute
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