Wednesday, 20 December 2017

Wellness Tourism Market 2017-2021

MRC Announces the Publication of its Research Report – Global Wellness Tourism Market 2017-2021
MRC recognizes the following companies as the key players in the global wellness tourism market: AccorHotels, Canyon Ranch, IHG, and Red Carnation Hotels
Other Prominent Vendors in the market are: IHHR Hospitality (Ananda resort), AroHā Wellness Retreat, Body and soul wellness center, BodySense, Fitpacking, Four Seasons Hotels, Gwinganna Lifestyle Retreat, Hilton, Hyatt, KamalayaKohSamui, MARRIOTT INTERNATIONAL, MOUNTAIN TREK FITNESS RETREAT & HEALTH SPA, Rancho La Puerta, and Wellness & Hormone Centers of America
Commenting on the report, an analyst from MRC’s team said: “The latest trend gaining momentum in the market is Emergence of online wellness aggregators. Penetration and the wide access to the Internet is a boon for this market as small online firms have been established that are focusing on aggregating information on wellness travel and accommodation. The use of the Internet to create an online repository and track user preferences are the upcoming trends in this market. This would further boost the growth of the hotels and other wellness centers that match up to customer expectations. Customers in any part of the world can access the information online and decide on the required services based on the reviews of a particular service or wellness center. This can create a platform for travelers who share similar interests to plan their wellness tours together. Thus, the growth of the small firms that focus on aggregating information across service providers is expected to boost the wellness tourism market in the future.”
According to the report, one of the major drivers for this market is Increase in mental illness. Some common forms of mental illnesses include stress, fear, anxiety, depression, and insomnia. If not addressed in their early stages, they can adversely affect physical health and lead to chronic disorders such as obesity, diabetes, heart diseases, and cancer. Stress can be caused due to environmental pressures such as work, societal expectations, and monetary problems. Stress can have adverse effects on an individual's lifestyle and health. For instance, out of 100 individual, 20% of the adults in the US experience stress every year, and mood disorders such as depression and bipolar disorders are the third major cause of hospitalization in the country.

Further, the report states that one of the major factors hindering the growth of this market is Perception of wellness tourism as a luxury travel market. Wellness and recreational activities such as mineral spas, sports, and spiritual practices that involve personal rejuvenation are conceived as a market for the elite. People perceive that wellness facilities are charged in addition to the regular tariffs and are offered only by the luxury hotels. Although regional allowances are made for domestic travelers, international travelers expect the treatment in proportion to the cost of the wellness package.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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