Market Trends of Asia Pacific Wellness Tourism Industry
This section covers the major market trends shaping the APAC Wellness Tourism Market according to our research experts:
Increasing Awareness Regarding Wellness as Travel Category
Wide range of wellness activities provided by various countries in Asia Pacific region is one of the major attractions for international tourist to visit this region. Many countries in this geography are known for their own special wellness segment like India for India and Shri Lanka for Ayurveda, meditation and yoga; South Korea for traditional bathhouse and beauty, Vietnam for healthy eating; Nepal and Bhutan for healing. Government of many countries are supporting and promoting the wellness tourism activities for overall growth of tourism and seeing tourism as emerging part of economy. Economic incentives offered by various countries, including China, India, Philippine, Sri Lanka, Bhutan and Malaysia to companies investing in wellness-related developments. For example, new and redevelopment projects in the segment of wellness tourism in India are supported with Market Development Assistance Scheme. This initiative helps in growth of international tourist hence contributing to growth of wellness tourism market. The Asia-Pacific region has demonstrated itself to be a firm favorite for international travelers, with over 360 million international tourist arrivals in 2019. However, due to the global pandemic and border closures, the international arrivals in the Asia-Pacific region plummeted to under 60 million in 2020, and further down to 20.9 million in 2021.
Domestic Travel Segment Dominates the Market
The domestic segment accounted for the largest share of wellness tourism market in 2021 and projected to anticipate largest share during forecast period from 2022 to 2027. The growing preference for affordable facilities in proximity rather than long-distance retreats in a different country is driving the growth prospects for the health and wellness tourism market in the domestic wellness tourism segment. In Asia Pacific region primary and secondary wellness traveller both contribute to growth of domestic segment. Asia-Pacific is also the world's fastest-growing inbound travel market.
