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LONDON, GREATER LONDON, UNITED KINGDOM, October 15, 2024 /EINPresswire.com/ -- The spa resorts market has shown strong growth recently. It is projected to grow from $77.30 billion in 2023 to $82.71 billion in 2024, representing a CAGR of 7.0%. Contributing factors include a rising consumer interest in health and wellness, increasing disposable incomes, a focus on mental health and stress management, a surge in global tourism, and an aging population.
What Is The Estimated Market Size Of The Global Spa Resorts Market And Its Annual Growth Rate?
The spa resorts market is anticipated to grow substantially, projected to reach $108.85 billion by 2028, with a CAGR of 7.1%. This growth is driven by a continued focus on wellness, greater emphasis on personalized and customized spa treatments utilizing data and AI, heightened hygiene and safety standards, rising demand due to the importance of work-life balance, and the development of comprehensive wellness tourism packages. Major trends include the integration of advanced technologies like AI, VR, and AR in treatments and customer engagement, implementation of stringent hygiene and safety protocols, increasing popularity of retreats that promote digital detox, incorporation of local culture and traditions, and the integration of wearable health devices and digital health platforms.
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Growth Driver of The Spa Resorts Market
The increasing emphasis on health and wellness is anticipated to propel the spa resorts market forward. Health and wellness encompass a holistic state of well-being that includes physical, mental, and emotional health, achieved through balanced living, proper nutrition, regular exercise, and preventive healthcare. The growing focus on health and wellness is driven by heightened awareness of chronic diseases, the significance of mental health, advancements in medical research, and an increased commitment to preventive care and healthy lifestyles. Spa resorts significantly contribute to this focus by offering comprehensive relaxation, therapeutic treatments, and wellness programs that enhance overall well-being.
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Which Market Players Are Driving The Spa Resorts Market Growth?
Major companies operating in the spa resorts market are 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
What Are The Emerging Trends Shaping The Spa Resorts Market Size?
Companies in the spa resorts market are enhancing the guest journey through hospitality technology integration. This innovative approach streamlines booking processes and optimizes operational efficiency within spa services, ultimately enhancing customer experiences and maximizing revenue opportunities.
How Is The Global Spa Resorts Market 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
Geographical Insights: North America Leading The Spa Resorts Market
North America was the largest region in the spa resorts market in 2023. The regions covered in the spa resorts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Spa Resorts Market Definition
Spa resorts are luxury destinations that combine accommodation and wellness services, offering treatments such as massages, facials, and thermal baths. These resorts typically feature amenities like fitness centers and healthy dining options, focusing on relaxation, rejuvenation, and holistic well-being in serene and picturesque settings.
Spa Resorts Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global spa resorts market report covering trends, opportunities, strategies, and more
The Spa Resorts Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on spa resorts market size, drivers and trends, spa resorts market major players, competitors' revenues, market positioning, and market growth across geographies. The market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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