SE Asia’s Men’s Wellness Tourism Primed for Growth
Wellness tourism is projected for an 11 percent compound annual growth rate through 2020, according to Technavio analysts. Primary wellness tourists traveling internationally outspend the average international tourist by at least 60 percent, signaling a growing and valuable revenue stream for hotels.
The growth of Southeast Asia, namely Malaysia, Indonesia and Vietnam, is also projected to fuel the market.
The CAGR for Asia Pacific will grow at a rate of 14.35 percent, reaching $ 204.3 billion by 2020. The region has the most spas, adding 10,000 in the past decade alone, spurred largely by hotel and resort spas.
“With the adoption of wellness activities among consumers as a part of changing lifestyle, there is a growing demand for multiple price points and increased convenience and accessibility, thereby giving rise to new business models,” said Abhay Sinha, author of the report and analyst for Technavio. “For instance, franchising and membership, are becoming more common in the market.
“Likewise, the desire for convenience and one-stop service has led to the convergence of spas with other industries,” Mr. Sinha said. “For instance, aesthetic clinics that have traditionally focused on beauty are now offering massages and body work; salons, gyms and fitness centers, doctors’ offices and hospitals are providing massages and other spa-related offerings alongside their standard services.”
Customers are also looking for venues which offer expertise and convenience for purchasing products to extend their spa treatment. Smart managers will invest in sales training programs for their staff which emphasize engagement and personalization skills.
Men are also making themselves known in the market, as their inclination toward spas and services ranging from massages to manicures and pedicures grows. This is particularly true of older men trying to maintain their appearance, but young men are also starting to see grooming and beauty as a necessity.
About 10 percent of U.S. cosmetic patients are male, and the number seeking it in Germany has doubled. With men venturing into the territory of cosmetic surgery, it follows that they will be receptive to hotels’ wellness initiatives as well.
Read the complete article here in Luxury Daily.
Read full article here