America far outperforms any other country when it comes to monetizing wellbeing, accounting for nearly a third of the entire global wellness economy, according to a new report
The United States has the world’s largest wellness economy by a wide margin, at $1.8 trillion, according to a new report from the Global Wellness Institute (GWI) in partnership with the National Academy of Sports Medicine (NASM). It is said to go up to USD. .
According to GWI, China has the world’s second-largest wellness economy, valued at $790 billion.
The global wellness economy has significantly recovered from the pandemic, with most sectors recovering and exceeding pre-pandemic levels, according to the GWI report. Notably, the wellness economy and related sectors are on track for a “strong and continued recovery and growth” in the coming years, a trend accelerated by consumer interest in wellness methods, GWI said. It has said. According to GWI, the global wellness economy as a whole was recently valued at $5.6 trillion.
The U.S. ranks No. 1 in nine wellness categories measured by GWI, including growth rates for each category from 2020 to 2022.
- physical activity +22.9%, $338.6 billion
- personal care and beauty +13.4%, $310 billion
- healthy eating, nutrition, weight loss: +8.4%, $289 billion
- wellness tourism: +31.8%, $259 billion
- Public health, prevention, and personalized medicine: -4.9%, $222 billion
- wellness real estate: +26%, $176 billion
- mental wellness: +13.3%, $87 billion
- spa: +30.9%, $26 billion
- workplace health: +8.1%, $18 billion
As we have seen above, sectors such as wellness tourism, wellness real estate, and spas experienced the highest growth from 2020 to 2022.
As GWI points out, there are more than 26,000 spas in the United States, making them ideal destinations for wellness seekers. It is also closely related to the growth of wellness tourism.
New York City, the most visited city in the United States, is rapidly developing wellness clubs offering therapies that support tranquility and longevity, such as salt saunas and cold plunges. The Ranch, the wellness retreat made famous by Malibu, has opened an outpost outside New York City to satisfy clients and travelers seeking an East Coast wellness getaway.
The wellness real estate market is predicted to reach nearly $890 billion by 2027, and is definitely an area to watch. The demand for residential wellness communities continues to grow. For example, Lifetime is developing apartments that will provide residents with common areas for socializing, weekly meal delivery, personal training, nutritional coaching, and access to upscale fitness and health clubs.
Despite its overall dominance, the United States placed second in Traditional and Complementary Medicine and sixth in Hot Springs/Mineral Springs.
This report is available on GWI’s Geography of Wellness platform in partnership with the National Academy of Sports Medicine (NASM).
