A Strong Spa Industry
June 16, 2008
The Global Spa Economy Report pegs the spa industry at over $250 billion
By Alex Palmer
The spa business is booming, according to the first-ever Global Spa Economy Report. Released at The Global Spa Summit at the end of May in New York, the report estimates the global spa industry to be over $250 billion. According to the report, this amount includes $60.3 billion in core spa industry revenues, such as spa facilities, capital investments, education, consulting, media, associations, and events, and $194 billion in spa-related hospitality, tourism, and real estate.
"The spa industry is growing at a breakneck pace, but its diversity and scope have always made it difficult to quantify its size and financial strength, as well as to harness the full power of its collaborative voice," SpaFinder CEO Pete Ellis and chairman of the board for the Global Spa Summit, said in a statement.
The report drew on 1,000 responses to a survey from industry sources, interviews with 50 high-level industry executives, and data from more than 210 countries. Breaking down spa revenues by nation, it placed United States at the top with $12 billion, followed by Japan, Germany, France, Italy, the United Kingdom, and China.
The size and significance of the spa industry comes as little surprise to incentive planners.
"Most of our clients do want to have a spa option included in the program," says Ellen Saxe, vice president of Los Angeles-based Carlisle Incentives, which plans corporate incentive travel programs.
Saxe says that she has seen interest in spas grow as it has been encouraged by the expanding options and improved quality of hotels' offerings. She points out that even on an incentive trip, individuals make their own contributions to that $255 billion figure, as they are often willing to spend their own money for a higher-tier treatment.
"Individuals will pay more for extra special treatment," says Saxe. "I just had a program where spa and golf were a big part of it, and someone wanted a couple’s massage."
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