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According to the Global Wellness Institute (GWI), wellness is defined as “the active pursuit of activities, choices, and lifestyles that lead to a state of holistic health.”

WELLNESS IS MULTIDIMENSIONAL

It’s Physical, Mental, Spiritual, Emotional, Social, and Environmental

“It’s an individual pursuit-we have self-responsibility for our own choices, behaviors, and lifestyles- but it is also significantly influenced by the physical, social, and cultural environments in which we live.” – Global Wellness Institute, Global Wellness Economy Monitor 2023

Wellness is making significant shifts and making waves in a diverse world
Generational income and gender gaps are creating a wellness space of:
- Hardcore Wellness – newly hyper-medical, expensive market with a higher socio-economic status client-base
- Softcore Wellness – demands for a low-pressure, simpler, less expensive treatments where emotional and social well-being matter most and accessible to all socio-economic status’s.
Climate Adaptive Wellness – new ways to cool communities and homes due to climate change is on the rise.
Transformative effects of tech supported art in the wellness space.
More shake-ups in 2023 than in the last decade
Polarities between Hard and Softcore Wellness will only widen, due to income and gender gaps creating a wellness space defined by very different and contradictory markets and mindsets.
2024 Wellness will tackle serious issues:
Climate threats to women’s health
Innovation surrounding wellness technology is set to accelerate even faster.

THE FUTURE OF WELLNESS

Global Wellness Institute, Global Wellness Economy Monitor 2023

Global Wellness Institute, Global Wellness Economy Monitor 2023

Global Wellness Institute, Global Wellness Economy Monitor 2023

WELLNESS TOURISM

Wellness in tourism starts with enhancing wellness for visitors, destinations, and local communities. It is by influencing travelers from across the globe, access to nutritious diets, recommend healthy levels of physical activity, improving individual and community resilience – especially addressing stress and loneliness- while providing overall holistic health opportunities for each individual wellness seeker.

“Wellness tourism is a powerful and enduring travel trend that will accelerate and reshape the global tourism industry. When wellness is done the right way, it should enhance the quality of place for tourists and the the quality of life for local residents.” -GWI

Wellness tourism can be defined as “travel associated with the pursuit of maintaining or enhancing one’s personal well-being.”- GWI

The Global Wellness Institute (GWI) identifies two types of wellness travelers. The primary wellness traveler seeking a trip or destination choice based primarily on the motivation of wellness. And the secondary wellness traveler, those seeking to maintain wellness while traveling or participating in wellness experiences while traveling for business or pleasure.

Wellness for both the traveler and local residents are mutually benefitting. Policies for wellness tourism are being actively researched and promoted, given the benefits to all. Tourists are able to enjoy leisure time as well as experience different cultures, lifestyles, and environments during their stay. This gives the adventure seeker opportunities to broaden their view of the world, but also bring economic growth within the local community.

“Wellness trips” have many meanings, depending on the individual’s nature and purpose. Some seek luxury seaside resorts, yoga or meditation retreats, while others seek wellness values and lifestyle shape decisions throughout their trip. Examples are healthy accommodations, food, and fitness options on their trip, while visiting friends/family, or on business. According to GWI estimates, this secondary wellness travel accounted for 88% of all wellness trips and 85% of wellness tourism spending in 2023 – out of the $651 billion in expenditures. Surveys since the COVID-19 pandemic report a rising consumer interest in wellness travel with more focus on mental wellness, sleep, exercise, healthy food, nature, wonder, and authentic interactions with local culture and communities. Tourism stakeholders will need to shift their understanding of wellness tourism to a broader and more expansive focus to meet the needs of both types of travelers.

Healthy activities, such as, walking, exercise classes, meditation spaces, contact with nature, social interactions, are some of the major tourist attraction accommodations tourists are seeking. Each community has its own culture, and most wellness travelers benefit from enjoying these unique experiences. Travelers are wanting more out of their jaunts, and expectations have expanded far beyond spas, fitness boot camps, yoga retreats, and detox treatments. Since the surge of wellness tourism, spas and wellness resorts are increasingly offering more medical-type servies such as executive physicals, gut microbiome assessments, sleep analysis, blood analysis, genetic testing, MRI scans, oxygen therapy, etc. With the industry growing at such a rapid rate, and the vast area of wellness expanding even wider, the distinction between wellness and “medical wellness” is getting somewhat blurred. It is in the best interest of the consumer to have a clear understanding of what is being offered and what type of resort/spa prior to travel.

Global Wellness Institute, Global Wellness Economy Monitor 2023

$650.7b
Global Market
In 2022

36.2%
CAGR
2020-2022

Global Wellness Institute, Global Wellness Economy Monitor 2023

WELLNESS REAL ESTATE

Wellness Real Estate the fastest-growing sector in the wellness economy, according to the May 2024 Global Wellness Institute’s Market Growth (2019-2023) and Future Developments Report, and defined by “expenditures on the construction of residential and commercial/institutional properties (including office, hospitality, mixed-use/multi-family, medical, and leisure) that incorporate intentional wellness elements in their design, materials, and building, as well as their amenities, services, and/or programming.”

The COVID-19 pandemic sparked a growing understanding among consumers, as well as the building industry, about the crucial role external environments play in our physical and mental health and well-being. According to this report, North America is the most heavily concentrated accounting for 44% of the wellness real estate market on a global level. Although global construction growth has slowed considerably over the last few years, wellness real estate has outpaced overall construction growth across every single region from 2019-2023, by a factor of 3-4 times.

Large, multi-location companies are increasingly earning wellness building certifications, consulting the latest ratings and trends on wellness and enhancing healthy features to their portfolios. Some are shifting toward a more holistic emphasis o human health, adding criteria related to indoor environments and occupant health and well-being.

FUTURE DEVELOPMENTS

The many value systems and drivers for wellness real estate are constantly evolving to meet the need of the market. Residential, commercial, hospitality, institutional, among other properties are catching on to consumer needs and interests, alongside emerging knowledge and understanding of the built environment, driving expansion in the wellness real estate market.

Some of the key drivers and opportunities for wellness real estate are:

The COVID-19 pandemic has forced us to reckon with how our health is shaped by our built environments and wellness real estate will continue to be a winner amidst this shift.
Healthy Indoor air is quickly becoming an essential feature.
Wellness real estate will increasingly leverage natural assets.
Environmental design holds the key to our mental and social wellness.
Healthy buildings are becoming an important part of public health strategy, as chronic disease and mental health issues create an ever-rising healthcare burden.
Wellness features and healthy design have become nearly ubiquitous in luxury properties.
Wellness tourism often serves as gateway to wellness real estate, converting wellness travelers into buyers of wellness properties.
Healthy workspaces can help entice people to come back to the office.
A growing emphasis on the “S” of ESG metrics will support demand for wellness real estate.
Interest in planetary health and sustainability is converging with human health and wellness.
There is vast potential for differentiation in wellness real estate to address diverse needs and target audiences, and to leverage unique site characteristics.

(Global Wellness Institute, Wellness Real Estate Market Growth (2019-2023) and Future Developments)

The Global Wellness Institute defines wellness real estate as “buildings, neighborhoods, and communities that are proactively designed and built to support the holistic health of their residents, occupants, and visitors.”

Here are some of the criteria by which wellness real estate is measured by but not exclusive to: