Rockville, Jan. 31, 2023 (GLOBE NEWSWIRE) — According to Fact.MR’s Latest Study, Expanding at a prolific CAGR of 10%, the global wellness tourism market is expected to increase from a valuation of US$ 880 billion in 2023 to US$ 2.3 trillion by the end of 2033.
Wellness tourism is quite common nowadays due to the growing number of health-conscious consumers. The idea of traveling to maintain or improve one’s health is known a wellness tourism. It is a way of life that involves multiple journeys to enhance and preserve one’s well-being. Its focus is on genuine experiences and supporting the goals of healthy living.
Increased expenditure in the tourism industry is expected to have a positive impact on the wellness tourism industry. Moreover, various service providers are focusing on offering spa therapies and other facilities. Also, unlike medical tourism, wellness tourism also focuses on the prevention of diseases. Besides this, it focuses on a healthy lifestyle and improved quality of life.
Wellness tourism is growing at a rapid pace due to increasing disposable income and spending capacity. Also, growing interested in health and new experiences are expected to boost the growth of the market.
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Wellness Tourism is expected to grow due to the rising prevalence of chronic diseases across the globe
Rise in psychiatric disorders such as stress, anxiety, and frustration led to chronic health-related illnesses such as cancer and depression. Moreover, due to the increasing awareness regarding mental and physical health, people across the globe want to take measures to prevent the emergence of diseases.
Besides this, various non-profit organizations and governments across the globe are expected to raise awareness about the identification of mental diseases. Also, this is anticipated to boost the growth of a number of wellness retreats that focus on mental health and…