The Global Wellness Institute has announced new stats showing that the global wellness economy will be worth $US8.5 trillion by 2027. The 10th edition of the GWI has seen a record valuation despite the massive economic shock of the pandemic.
Whilst the market shrank between 2019 and 2020, The global wellness market shrank between 2019 and 2020 by 11%, an obvious result of the pandemic. In the future, however, there is an expectation that there will be huge increases in physical activity as one of the 11 sectors of wellness.
Current predictions for the sport and recreation sector include:
- Healthy Eating, Nutrition and Weight Loss – US$1.079 trillion (+118% on 2019)
- Physical Activity – US$976 billion (+111% on 2019)
- Public Health, Prevention and Personalised Medicine – US$611 billion (+171% on 2019)
The sector along with the GWI have expressed their surprise for the sector’s resilience in the past few years. GWI senior research fellow and co-author of the report, Katherine Johnston, said:
“If the pandemic disrupted industry momentum in the short term, it has simultaneously created a dramatic shift in the long-term opportunities and trajectory for wellness.”
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