The spa resorts market size has experienced significant growth in recent years, projected to rise from $77.30 billion in 2023 to $82.71 billion in 2024, representing a compound annual growth rate (CAGR) of 7.0%. This historical growth can be linked to rising consumer interest in health and wellness, increased disposable income, a greater focus on mental health and stress management, the expansion of global tourism, and an aging population. Looking ahead, the spa resorts market is anticipated to continue this upward trend, expected to reach $108.85 billion in 2028 at a CAGR of 7.1%. This forecasted growth is driven by a sustained emphasis on wellness, a growing demand for personalized spa treatments powered by data and AI, heightened hygiene and safety standards, a demand for work-life balance, and the creation of comprehensive wellness tourism packages. Key trends anticipated in the forecast period include the integration of advanced technologies such as AI, VR, and AR in treatments, enhanced hygiene protocols, a growing interest in retreats aimed at disconnecting from digital devices, incorporation of local cultural elements, and the use of wearable health devices along with digital health platforms.
Global Spa Resorts Market Key Driver
The increasing focus on health and wellness is anticipated to propel the growth of the spa resorts market in the coming years. Health and wellness encompass a holistic state of well-being that includes physical, mental, and emotional health, achieved through balanced lifestyles, proper nutrition, regular exercise, and preventive healthcare. This growing emphasis stems from heightened awareness of chronic diseases, the significance of mental health, advancements in medical research, and a stronger focus on preventive care and healthy living. Spa resorts play a vital role in this trend by offering relaxation, therapeutic treatments, and wellness programs that enhance overall well-being. For instance, according to statistics released by the Global Wellness Institute in November 2023, the global wellness economy grew by approximately 24.4%, increasing from $4.5 trillion in 2020 to $5.6 trillion in 2022. Thus, the increasing focus on health and wellness is expected to drive the spa resorts market growth.
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Global Spa Resorts Market Segments
The spa resorts market covered in this report is segmented –
1) By Spa Type: Salon Or Day Or Club Spa, Medical Spa, Hotel Spa, Destination Spa, Mineral Spa, Other Spa Types
2) By Type Of Resort: Beach Resorts, Mountain Resorts, Health And Wellness Resorts, Other Types Of Resorts
3) By Tourist Type: Domestic, International
4) By Booking Channel: Phone Booking, Online Booking, In Person Booking
5) By End User: Male, Female
By Geography:The regions covered in the spa resorts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the spa resorts market in 2023.
Major Spa Resorts Industry Players
Marriott International Inc., Hilton Worldwide Holdings Inc., Hyatt Hotels Corporation, Four Seasons Hotels Limited, InterContinental Hotels Group PLC, Rosewood Hotel Group, Mandarin Oriental Hotel Group, Radisson Hotel Group, ME SPE Franchising LLC, The Ritz-Carlton Hotel Company LLC , Woodhouse Spas, Six Senses Hotels Resorts Spas, Banyan Tree Hotels & Resorts, Mandara Spa, Rancho La Puerta Inc., Hershey Entertainment & Resorts Company, Royal Champagne Hotel & Spa, Lanserhof Group, Fairmont Hotels & Resorts, Jade Mountain Resort, Gaia Retreat & Spa, Hand and Stone Franchise Corporation, AYANA Hospitality, Planet Beach Franchising Corporation
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Spa Resorts Market Overview
Spa resorts are luxury destinations offering a combination of accommodation and wellness services. They typically provide a range of treatments, such as massages, facials, and thermal baths, along with amenities such as fitness centers and healthy dining options. The focus is on relaxation, rejuvenation, and holistic well-being in a serene, often picturesque setting.
Spa Resorts Global Market Report 2023 provides data on the global spa resorts market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The spa resorts market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
