The global spa economy is estimated to be over $250 billion, according to a report released this week at the 2008 Global Spa Summit in New York.
The report by SRI International estimates core spa industry revenues are $60.3 billon. The industry also generates an additional $194 billion in spa-related hospitality, tourism and real estate, the report said.
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 report also found that 1.2 million workers were employed in more than 71,600 spas worldwide in 2007. During the same period, capital investment in spas approached $13 billion, with continued expansion on the horizon.
"The spa industry is growing at a breakneck pace, but its diversity and scope have always made it difficult to quantify its size and financial strength, as well as to harness the full power of its collaborative voice," said SpaFinder CEO Pete Ellis, who also serves as the chairman of the Global Spa Summit.
In a breakdown of spa revenue by nation, the U.S. emerges on top, with revenue of more than $12 billion, followed by Japan ($5.7 billion) and Germany ($3.8 billion). The list continues with France, Italy, the U.K. and China.
The report’s findings were compiled from interviews with over 50 high-level industry executives, 1,000 responses to a global survey of industry sources and data collected from 210 countries.