To ensure customer satisfaction, service providers are focusing on spa therapies and other wellness activities. In contrast to medical tourism, wellness tourism focuses on disease prevention. It places a premium on maintaining a healthy lifestyle and enhancing one’s quality of life. On the other hand, medical tourism entails the treatment of a pre-existing condition. Wellness is viewed as a preventative measure aimed at optimizing health.
In terms of revenue share, Europe dominated the global market in 2019. Europe has long been a popular tourist destination. The growing demand for wellness services as a result of the increasing prevalence of stress-related health problems has boosted the region’s market growth.
Asia Pacific, on the other hand, is expected to grow at the fastest rate between 2019 and 2027. Technological advancements and rising disposable income levels in emerging markets such as China and India are expected to drive market growth.
Aman Spa opened Amanpuri, a new holistic wellness center in Thailand, in February 2019. Amanpuri offers integrative medical services. It is Aman spas’ first wellness center to offer medical services. Additionally, in July 2018, Evolution Wellness Holdings, a Malaysian company, launched Fiveelements Pte. Ltd., a new integrated wellness resort.
Accor Hotels, Hilton Worldwide, Hyatt Hotels, InterContinental Group, Marriot International, Radisson Hospitality, and Rosewood Hotels are some of the market’s leading players. These key market participants have strengthened their regional presence through strategies such as partnerships, mergers, and acquisitions. Hyatt Hotels, for example, acquired Miraval Group in 2017, a chain of wellness spas and resorts.
OneSpaWorld, a provider of health and wellness services for cruise ships and resorts, announced in March 2019 the formation of a new holding company called OneSpaWorld Holdings Ltd. with Haymaker Acquisition Corp., an acquisition company. Additionally, according to a June 2018 announcement, the brand owner of Danai SPA, Crigen Resources’ spa in Malaysia, is considering a merger and acquisition to create the world’s first global wellness property development.
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