Global Wellness Institute Research ranks 150 countries by wellness market size

United States ($1.2 billion), China ($683 billion) and Japan ($304 billion) are the largest welfare economies in the world; Switzerland, Iceland and the United States rank first in per capita spending on wellness, where consumers spend more than $3,600 one year

MIAMI, February 8, 2022 /PRNewswire-PRWeb/ — The non-profit Global Wellness Institute (GWI) has released “The Global Economy of Wellbeing: Country Ranking“, the first research to measure the welfare economies of 150 countries. It is packed with information on national welfare markets, from average per capita welfare spending to the contribution of the welfare market to the overall economy of each country.The research was featured today during the first Global Wellness News™ broadcast in New York City.

THE COMPLETE REPORT IS HERE.
GRAPHS ARE HERE.

The report accompanies GWI’s recent publication “The Global Wellness Economy: Looking Beyond COVID”, a comprehensive global update on all 11 wellness market sectors, finding that the global wellness economy is worth $4.4 trillion and plans to reach 7 trillion dollars by 2025.

“Last year, GWI generated country-level data for all 11 wellbeing sectors. So now, for the first time, we can answer the question everyone is asking: how big is the total welfare market for each country and which ranks highest? noted Ophelie Yeung, GWI senior researcher. “Which countries are growing, which are declining? How do national welfare markets differ and why? This report is the first to answer these questions. »

Top 20 Wellness Markets

WE: $1.2 trillion
China: $683 billion
Japan: $304 billion
Germany: $224 billion
UK: $158 billion
France: $133 billion
Canada: $95 billion
South Korea: $94 billion
Italy: $92 billion
Australia: $84 billion
Brazil: $83 billion
India: $78 billion
Russia: $71 billion
Spain: $63 billion
Mexico: $46 billion
Netherlands: $41 billion
Taiwan: $38 billion
Switzerland: $38 billion
Indonesia: $36 billion
Turkey: $35 billion

It is not surprising that the most populous countries in the world (for example, China, India, Indonesia, Brazil, Russia), or the richest (for example, Switzerland, Australia, Netherlands), or countries that combine size and wealth (e.g., the United States, Japan, GermanyUK, etc.), spend the most on welfare.

The United States is by far the largest market, $1.2 billion, nearly double the size of the second-largest market, Chinaat $683 billion. In fact, the United States accounts for 28% of the entire global wellness market, while the top ten markets account for 71% of the global total.

The report provides granular data on national wellness markets, from growth rates in the pre-pandemic years of 2017-2019 to the impact of the pandemic on each market.

Where are consumers spending the most on wellness? (welfare expenditure per capita)

Switzerland: $4,372
Iceland: $3,728
United States: $3,685
Austria: $3,568
Norway: $3,346
Australia: $3,771
New Zealand: $2,969
Denmark: $2,958
hong kong: $2,943
Aruba: $2,792

Consumers in the wealthiest economies spend the most each year on well-being. The report provides data on the contribution of the welfare market to the national GDP (what percentage of the economy it represents). Globally, the wellness economy accounts for 5.1% of total GDP, approximately 1 in every 20 dollars spent by consumers worldwide is spent on wellness.

For small countries dependent on tourism, well-being represents a disproportionate percentage of their economy

It may seem surprising to see Aruba rank in the top 10 for consumer spending on well-being because they are not as wealthy as other ranked countries. This is the tourism effect, where high-spending inbound wellness tourists make up a disproportionate share of the wellness market. The report ranks countries based on the ratio of the size of their welfare economy to the size of their total GDP/economy, and small tourism-dependent countries really stand out. For these top five nations, the wellness market represents a telling percentage of total GDP: Seychelles (16.5%), Maldives (14.5%), Aruba (11.9%), Costa Rica (11.4%) and St. LUCIA (ten%). It is a window into the powerful contribution that wellness tourism makes to their economies, but also shows how, in these smaller countries, wellness is more of an “export industry” and, for the most part, out of reach of residents.

The sectors that define national welfare markets vary widely

The report reveals how different wellbeing sectors dominate in different nations. Both globally and in most countries, the wellness market is concentrated in three sectors: 1) healthy eating, nutrition and weight loss; 2) personal care and beauty; and 3) physical activity. These three segments represent over 60% of the total wellness market.

There is, however, wide national and regional variation. In Japan, personal care/beauty accounts for a much larger share of wellness spending than in most countries; for China, India, Indonesia, Russiaand Turkey, it is traditional/complementary medicine; in Germany, it is wellness tourism, spas and thermal/mineral springs; while in sub-Saharan Africa, spending on public health and prevention dominates.

“These new rankings reveal which countries spend the most on wellbeing – important insights for governments and businesses. But the size of a wellbeing market doesn’t necessarily reflect which countries are doing best: which nations have the best health outcomes or equitable access to well-being,” said Catherine Johnson, GWI senior researcher. “There is a lot of research to be done. Who benefits from the growth of the wellness economy in each country, and who does not? What is the relationship between the wellness market and health and well-being of a country’s population? What can governments and policy makers do to bring more well-being to more people? This will be the focus of our November 2022 well-being and policy report to be published at the Global Wellness Summit in Tel Aviv.”

About the Global Wellness Institute: The Global Wellness Institute (GWI), a 501(c)(3) non-profit organization, is considered the leading global research and education resource for the global wellness industry and is known for pioneering major industry that bring together leaders to chart the future. GWI positively impacts global health and well-being by educating public institutions, businesses and individuals on how they can work to prevent disease, reduce stress and improve overall quality of life. Its mission is to promote well-being worldwide.

Media Contact

Beth McGroartyGlobal Wellness Institute, 213-300-0107, [email protected]

SOURCE Global Wellness Institute

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