Thailand’s wellness sector enjoys steady growth
Thailand’s wellness tourism sector is steadily expanding according to a recent report that highlighted 7 percent annual growth in recent years.
The report divides the health and wellness industry into two categories, the first of which includes mind and body fitness, personalised preventative care, food supplements and alternative medicine. The second segment focuses on external care, and includes beauty and anti-aging business, spa services and wellness tourism.
A forecast by the Global Wellness Institute (GWI) revealed that beauty and anti-aging businesses comprised the largest share of the Thai market (26 percent) in 2015. However, this is likely to fall to 22 percent in 2020. Meanwhile, services linked to mind-body health, personalised preventative care and wellness tourism are expected to rise from THB19 trillion (US$606 billion) in 2015 to THB27 trillion (US$861 billion) in 2020. This represents the equivalent of a seven percent growth over this five-year period.
At present, Thailand’s health and wellness market is valued at THB320 billion (US$10 billion) annually. Globally, it is ranked in 13th position and it is fourth in Asia, behind China, Japan and India. According to the report, Thailand’s strength lies in its array of resources that fit with the current trend to tie health and wellness experiences into vacations. For example, the country’s stunning natural scenery, traditional medicine and local sports and activities all play a key role in boosting the Kingdom’s position.
It is thought that as more consumers become focused on health and wellness, they are more likely to incorporate related activities into their holiday itineraries. Plus, there has been a recent tourism trend for new experiences within established destinations. In many places, including Thailand, this has placed a greater emphasis on they array of health and wellness packages available.
As consumers seek new experiences, many businesses within the health and wellness sector are endeavouring to deliver something different. It is expected that a number of new services will be developed over the coming years, including silent spas, spas for cancer patients and new meditation studios.
For those seeking a relaxing destination that incorporates an array of health-related activities, Thailand’s private villas are becoming an increasingly sought-after accommodation choice. In addition to kicking back and relaxing in a five-star setting, guests can indulge in an array of spa treatments without even having to leave the property. Villa managers can arrange for a professional spa therapist to come directly to the villa, where guests can choose from a broad selection of treatments on the in-villa spa menu. Some guests also choose to take part in one-to-one fitness sessions within the grounds of their private holiday property, which range from yoga classes to Thai boxing tuition