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Oct 6, 2020 11:00 AM ET

Global Wellness Tourism Market Set for Rapid Growth, to reach Value USD 1,131.5 Billion by 2025


iCrowd Newswire - Oct 6, 2020

Zion Market Research has published a new report titled “Wellness Tourism Market by Service (Lodging, In-country Transport, Wellness Activities, Food & Beverage, and Others) and Travel Type (International and Domestic): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 – 2025” According to the report, global demand for wellness tourism market was valued at approximately USD 682.3 billion in 2018, and is expected to generate revenue of around USD 1,131.5 billion by end of 2025, growing at a CAGR of around 7.6% between 2019 and 2025.

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Wellness tourism can be described as travel undertaken for promoting fitness and well-being with the assistance of physical, psychological, or spiritual activities. Wellness tourism varies from medical tourism. Wellness tourism is undertaken for deterrence, whereas medical tourism is undertaken for management of an already prevailing disorder. The tendency of wellness tourism is increasing in the middle class globally due to development of affordable tourism options.

Global Wellness Tourism Market

Factors such as increasing number of travelers, amplified expenditure on travel and tourism, increasing incidence of lifestyle related illnesses such as cardiovascular disorders and diabetes, attractive deals from top hotel chains, increasing preference for online reservation, and upsurge of middle class globally will act as major driving factors in the growth of global wellness tourism market. Inactive lifestyle and growing disposable income will present an opportunity for the market players in the wellness tourism market. Nonetheless, high price and lack of appropriate facilities will restrict the growth of global wellness tourism market.

The global wellness tourism market has been split into service, travel type. Based on service, wellness tourism market has been segmented into lodging, in-country transport, wellness activities, food & beverage, and others. The lodging segment accounted for the highest market share in 2018 owing to growing number of tourists and increasing popularity of online booking sites.

The travel type segment has been divided into international and domestic. The international segment is expected to exhibit highest CAGR during the forecast period.

Regionally, the thoracic drainage devices market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa North America will be foremost region through the forecast time. U.S. will be the leading country in the North America region owing to high disposable income, availability of multiple travel options, and increased trend of online booking. Europe will be the next key market. The crucial reasons are high obesity rates and ease of travel within the continent. Asia Pacific will develop at the highest growth rate owing to increasing trend of wellness tourism and rise of middle class. Latin America region will proliferate at a remarkable rate through the projected time. Middle East & Africa region will display positive development in the projected time-frame.

The report also includes detailed profiles of key players such as Hilton Worldwide, InterContinental Group, Accor Hotels, Rosewood Hotels, Hyatt Hotels, Radisson Hospitality, and Marriot International among others.

This report segments the Global Wellness Tourism Market as follows:

Global Wellness Tourism Market: By Service

Global Wellness Tourism Market: By Travel Type

Global Wellness Tourism Market: By Region

To view TOC of this report is available upon request @ https://www.zionmarketresearch.com/toc/wellness-tourism-market 



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Keywords:    Wellness Tourism Market

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