Spa Economy Estimated at $255 Billion Annually

The global spa economy is estimated to be over $250 billion, according to a major report unveiled this week at the 2008 Global Spa Summit in New York. Prepared by SRI International on behalf of The Global Spa Summit, the first Global Spa Economy Report represents the most comprehensive effort yet to quantify the rapidly expanding global spa industry.

The report’s estimate, which looked at the year 2007, 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.

When broader spa-related industries such as beauty, nutrition, and fitness were factored into the equation, last year’s global health and wellness market exceeded $1 trillion, according to the report.

The one-year snapshot make the spa sector one of the first industries to organize at a global level and analyze its own worldwide impact. The report also found that 1.2 million workers were employed in more than 71,600 spas worldwide in 2007.