When the COVID-19 pandemic began, people were focused almost exclusively on their physical health. They were consumed with sanitizing, social distancing and mask wearing — willing to make nearly any effort to avoid contracting a potentially-deadly virus.
But as the pandemic lingered — and lingered — it became clear that the impact of this worldwide event would impact everyone’s physical and emotional health. Today, more than two years after this global health crisis began, the wellness industry is booming, largely because people are very aware of how important it is to take care of themselves and prioritize their well-being.
Here’s what you need to know about the thriving wellness industry:
Experts Predict that the Global Wellness Economy Will Reach $7 Trillion by 2025
In 2020, the global wellness economy was steadily climbing, until the pandemic halted its growth. At the time, the economy was worth about $4.4 trillion. In the short-term, the pandemic had a detrimental impact on the industry, but now, experts believe that it is poised for swift and significant growth. By 2025, most believe that the global wellness economy will be worth about $7 trillion.
Wellness Tourism is Trending
Wellness tourism is the sector within the global wellness economy that is expected to grow the most. Insiders predict that it will grow by more than 20 percent between now and 2025. Pent-up demand for travel combined with a renewed interest in self-care has fueled significant interest in wellness tourism.
Spas are Going to See an Increase in Business
People are ready to live their lives again, and they are especially ready to indulge in relaxing and luxurious spa treatments after two years of stress and frustration. The spa industry should grow by about 17 percent in the next several years, which will increase the demand for highly-trained and knowledgeable beauty professionals.
The pandemic forced us all to pause, evaluate our lives and reconsider our priorities. For many, this unexpected disruption to life’s normal patterns has made us think about changes that we can make — including career changes. With so much growth expected in the global wellness economy, now is the best time to dive into this industry. Ready to make the jump? New York Institute of Beauty can provide you with a skills-based education that will prepare you for a successful wellness career.
Contact us today to learn more about our beauty and wellness programs.
