GWI – Global Welness Economy Monitor, 2023

The Global Wellness Institute (GWI) has released the Global Wellness Economy Monitor for the years 2019 to 2022. The report includes data on nine wellness sectors, such as spas, wellness tourism, workplace wellness, and more. The authors have developed their own data estimates for these sectors using GWI's models and databases, as well as primary and secondary data sources. Two other sectors, personal care & beauty, and healthy eating, nutrition, & weight loss, were aggregated mainly from secondary sources like Euromonitor. The research for this analysis was conducted from January to September 2023 and involved literature reviews, data research, and expert interviews. Various sources were consulted, including international organizations like Euromonitor International and the World Health Organization, as well as industry-specific publications and government ministries. The authors also received input from several Global Wellness Institute Initiatives. The global wellness economy experienced significant disruptions due to the COVID-19 pandemic. In 2020, it declined by 9.5% to reach $4.5 trillion, compared to $4.9 trillion in 2019. However, the industry has quickly recovered, and in 2022, it reached $5.6 trillion, surpassing its pre-pandemic size by nearly 14%. The wellness economy initially grew by 16.5% in 2021 during its recovery phase, followed by 8.1% growth in 2022. This ongoing recovery and growth are driven by increasing consumer interest and demand for wellness, which has been further amplified by the pandemic.