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Spas and the Global Wellness Market: Synergies and Opportunities
SRI developed one of the first-ever comprehensive analyses of the global wellness industry.
For the Global Spa and Wellness Summit—an international organization that annually convenes a forward-looking international conference—SRI showed how the spa industry fits into, and can capitalize on, a growing wellness movement. The 2010 study incorporated findings from interviews with industry executives around the world, as well as two globally distributed surveys (a consumer survey with more than 1,000 respondents and an industry survey with more than 300 respondents).
SRI examined the history and evolution of the wellness movement, global trends, and consumer preferences. SRI also created a framework defining the wellness industry cluster and its nine sub-segments. SRI estimated that this industry represents a nearly $2 trillion global market.
The study pinpointed opportunities for spa businesses to take advantage of wellness-related opportunities—including partnering with conventional medicine and corporate wellness providers, and launching new wellness-focused service offerings. It also recommended a series of initiatives that could be pursued by industry organizations like GSS to position the spa industry to take advantage of the wellness movement. Findings and recommendations were presented at the 2010 Global Spa Summit in Istanbul, Turkey, attended by high-level executives and leaders from more than 35 nations.