Yoga and wellness are still in trend, not to mention that we see a growth in services in tourism as well, but how about merging with technology to have a substantial and long-term growth
The growth of wellness, well-being, health, and tools we use nowadays to be satisfied with these, is growing year by year.
We can figure out the growth of wellness in tourism as well. “Wellness Tourism Global Market Report 2023” ‘s research expects a worth of $819.9 billion this year. In 2017 this value was $1178.9 billion at a CAGR of more than 9%.
Of course, this market is segmented into food and beverages, active life, transportation, shopping, excursion, and other services. As the lodging market was the largest segment, this was expected to be the fastest-growing segment in the wellness tourism market at a CAGR of more than 11% during 2022–2027.
Learn More On The Wellness Tourism Market Report – https://www.thebusinessresearchcompany.com/report/wellness-tourism-global-market-report
The major player in this segment, the Hyatt Hotels Corporation’s business strategy is highly focused on increasing its production capacity. They launched a new suite for events, with advanced features and implementation of artificial intelligence. More, Park Hyatt New York launched a luxury restorative sleep suite featuring an AI-powered bed. Each of these suites contains the Bryte Restorative Sleep bed – which uses artificial intelligence to adjust the temperature and also firmness depending on the stage of a person’s sleep cycle.
So, we can see that well-being, health, and AI use in the future is inevitable, and more a necessity, than a luxury, At first can be a luxury, as everything, like we had in the “smartphone era”, now everybody or almost everyone has a smartphone, so the luxury, trendy, technology-filled products and services will become the “new normal” and real necessities for humanity.
Talking about wellness and wellbeing, we can see that in July 2022, the Hyatt Hotels Corporation also launched a new collaboration between Thompson Hotels, a US-based hospitality brand, and CorePower Yoga, which is a US-based yoga studio chain. This means they included in their services rooftop workout classes rooted in the mindfulness of yoga, which purpose is to transform the minds and bodies of guests, locals, and CorePower members, maintain a good and healthy environment, and care for them.
As we can see, in the wellness tourism market analysis, the rise in e-literacy is a major driver supporting the growth of the wellness tourism market. Also, computers, mobile phones, other and networking devices becoming very popular as e-literacy grows. This means that Online travel service providers aim to make booking and travel plannings much easier for consumers as they shift from traditional reservation methods to online reservations while they are continuously implementing advanced technologies. The booking of flights for example, and adventure travel options are much easier to do and it can be done very quickly. This means that consumer trust increases and they are more prone to pay online. Booking online more activities and doing payments means the wellness tourism market is in continued growth. According to Expedia Group data, an American online travel shopping company for consumer and small business travel, the number of searches increased by up to 25% in the first quarter of 2022. So, this means that consumers around the world are making good and informed decisions when they would like to travel.
Finally, to capitalize on the wellness tourism market’s growth potential, the major wellness tourism market players should focus on introducing new and advanced technology products and services. Also, an important factor in expansion is that companies should make investments and strategic partnerships with other companies or players.
Similar Market Reports:
Hotel And Other Travel Accommodation Global Market Report 2023
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https://www.thebusinessresearchcompany.com/report/medical-tourisms-global-market-report
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