The nonprofit Global Wellness Institute (GWI) found that the five largest wellness markets are the United States ($2.1 trillion), China ($950 billion), Germany ($281 billion), Japan ($262 billion), and the United Kingdom ($261 billion).
Together, these five countries account for a whopping 58% of the overall wellness economy, according to the annual Country Rankings Report. This report is packed with data on the wellness market in 145 countries.
A new study identifies the countries and regions with the highest growth rates and reveals how much each country spends on wellness each year.
Among the largest wellness markets, the UAE, Saudi Arabia, India, Mexico, Poland, United Kingdom, Netherlands, Canada, United States, and Australia have significantly led the way in growth over the past five years.
“One of this year’s surprising discoveries is the impressive growth of the Middle East’s wellness economy over the past five years,” said GWI Senior Researcher Catherine Johnston. “This growth is primarily driven by the exploding wellness markets in the UAE and Saudi Arabia, which are the region’s largest markets and also the world’s fastest growing countries since 2019. The rapid growth in wellness tourism is driving new wellness spending by visitors into the region, with consumers, businesses and governments all increasing spending on everything from wellness real estate to public health and healthy eating.”
For smaller markets, growth stars include Croatia, Cuba, Romania, Costa Rica, and Kazakhstan.
New research tells the story of wellness’s global growth. Despite many countries facing economic challenges, each of the top 25 largest markets is significantly larger than its pre-pandemic (2019) size.
This growth shows that the wellness industry is not only shock-resistant, but also “anti-fragile,” as GWI Partner economist Thierry Mareret put it. It actually improves under stress and shock.
The United States, which accounts for a staggering one-third (32%) of the global wellness economy, is a notable example.
Even as record numbers of Americans report high stress and a health care system in crisis, the wellness market remains unstoppable.
It will grow by more than $130 billion between 2023 and 2024, which is roughly the size of the entire wellness market in Italy and Australia.
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