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After two years of the pandemic, the wellness market is reinventing itself to offer new answers to consumers seeking physical and mental well-being.
Although most borders have reopened and “normal” life has resumed, the covid-19 pandemic has left significant marks on the lives of millions of people. Anxiety, depression, persistent post-Covid symptoms, its long-term impact is still difficult to quantify but it has also redefined everyone’s priorities. Recently published by the American firm McKinsey, a study on the search for well-being, carried out among 7,500 respondents in six countries around the world, showed that 79% of respondents consider well-being to be an important criterion, or even “an absolute priority” for 42% of them. This interest has been growing over the past two or three years, as the report shows.
The area of wellness that is now attracting the most interest is, unsurprisingly, health, with a desire to take control following this downturn. This is an opportunity for the sector, which, after two unstable years, is returning to a peak in activity, boosted by a clientele resolutely in search of wellness.
Wellness economy
The wellness economy is expected to reach $7 trillion by 2025, according to the latest Global Wellness Report. This estimate is well understood by the players in the sector and they are counting on it. “The well-being of our customers has become more important than ever. The pandemic has accelerated the global trend toward wellness and healthier lifestyles,” says Emlyn Brown, vice president of Well-Being Luxury & Premium Brands at Accor Group. “There is a growing awareness that health is an asset – three-quarters of our guests across all demographics and hotel segments have taken steps to improve their daily well-being. Wellness is an additional business gas pedal for our hotel owners and represents a growing opportunity to fuel their business and boost their performance,” he adds.
The same is true for Intercontinental Hotels Group, which is betting on the wellness boom with the 2019 acquisition of the Six Senses hotel label from the Pegasus Capital Advisor investment fund. The plan is to expand its portfolio of establishments to nearly 60 properties in the coming years, with openings planned in Rome and Crans-Montana during 2022.
One of the main sectors identified as particularly promising by the Global Wellness Institute is the mental well-being market (meditation, sleep and brain health). Currently worth $121 billion, it has considerable potential for the years to come. Indeed, in order to face the uncertainty of the health context, many people have started to question their habits and seek a more sustainable life balance.
Alternative therapies, retreats, oriented towards psychological well-being and health capital are seeing their offers multiply. With themes such as “boosting your immune system“, “getting back to sleep“, “tempering your stress“, or even “reconnecting with optimism“, the promises and initiatives are vast to meet the needs of clients who are increasingly interested in these subjects. Some establishments go even further, like medispas, by offering both the comfort of a luxury spa and medical facilities. Indeed, the latter have developed programs specifically designed for people affected by the pandemic that should easily find interested clients. The World Health Organization estimates that about 10 to 20% of infected people suffer from a long Covid: they have persistent after-effects for weeks or even months after contracting the virus.
Traditional medicine is not always able to treat these problems due to lack of resources. “The pandemic will have a long-term and far-reaching impact,” WHO predicted last summer. The retreat and restrictions due to the pandemic have had this reflective effect on the entire global population, seeking a life more in line with their values. Mental and physical wellness has taken a more important place and the actors of the sector have understood it well, the offer is more varied and more adapted, for a growing sector, which should eventually gather more and more followers.
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After two years of the pandemic, the wellness market is reinventing itself to offer new answers to consumers seeking physical and mental well-being.
Although most borders have reopened and “normal” life has resumed, the covid-19 pandemic has left significant marks on the lives of millions of people. Anxiety, depression, persistent post-Covid symptoms, its long-term impact is still difficult to quantify but it has also redefined everyone’s priorities. Recently published by the American firm McKinsey, a study on the search for well-being, carried out among 7,500 respondents in six countries around the world, showed that 79% of respondents consider well-being to be an important criterion, or even “an absolute priority” for 42% of them. This interest has been growing over the past two or three years, as the report shows.
The area of wellness that is now attracting the most interest is, unsurprisingly, health, with a desire to take control following this downturn. This is an opportunity for the sector, which, after two unstable years, is returning to a peak in activity, boosted by a clientele resolutely in search of wellness.
Wellness economy
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After two years of the pandemic, the wellness market is reinventing itself to offer new answers to consumers seeking physical and mental well-being.
Although most borders have reopened and “normal” life has resumed, the covid-19 pandemic has left significant marks on the lives of millions of people. Anxiety, depression, persistent post-Covid symptoms, its long-term impact is still difficult to quantify but it has also redefined everyone’s priorities. Recently published by the American firm McKinsey, a study on the search for well-being, carried out among 7,500 respondents in six countries around the world, showed that 79% of respondents consider well-being to be an important criterion, or even “an absolute priority” for 42% of them. This interest has been growing over the past two or three years, as the report shows.
The area of wellness that is now attracting the most interest is, unsurprisingly, health, with a desire to take control following this downturn. This is an opportunity for the sector, which, after two unstable years, is returning to a peak in activity, boosted by a clientele resolutely in search of wellness.
Wellness economy
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