Industry veteran Ingo Schweder – Founder and CEO of GOCO Hospitality, digs deeper to understand what the Asian market has in store for the western world and how the future of the global wellness industry will continue to take from these age-old practices.
Asia is the future of the global wellness industry. The continent has had an incredibly prominent level of influence on the entire global wellness sector. From Ayurveda, yoga, and meditation to traditional Chinese medicine (TCM), acupuncture and hot spring bathing, millions of people in the west are now taking inspiration on living a healthier and more rewarding life from traditional Asian wellness knowledge.
It is interesting to know how these practices that originated more than 2,000 years ago are being used by the western world and how health and wellness are affecting the tourism industry.
India is definitely the home of some of the most influential wellness modalities that have ever been introduced to the world. Practiced for thousands of years in India, they have only somewhat recently entered into mainstream consciousness outside of the country and exploded in popularity and awareness, around a decade ago, in the west. Yoga, Ayurveda and meditation have now been adopted as core pillars in the western wellness sector, and they are set to grow further.
The AYUSH sector (Ayurveda, Yoga, Naturopathy, Unani, Siddha and Homoeopathy) is estimated to be worth an annual US$1.8 billion and the AYUSH products are worth an estimated US$616 million a year, with digestives, health food and balms making up around 75% of this. Other products – including medicinal herbs, extracts and medicaments – are being exported all over the world.
The biggest markets for these exports are Western Europe, Russia, and the US, a symbol of some of the overseas interest in Indian wellness knowledge and hence the growing Indian wellness inspiration in these parts of the world.
Apart from this, India is also one of Asia’s fastest growing medical tourism destinations. With approximately 500,000 foreign patients visiting India for treatment each year, India is second in Asia only to Thailand. Whether it be Ayurveda, homeopathy or allopathy, this too is a rapidly growing, multi-billion-dollar industry.
While Ayurveda is still not as popular in the west as compared to other complimentary therapies, the practice of Ayurveda and Ayurvedic medicine has proven to be a remedy for many illnesses. Ayurveda emphasises the body as a whole, aligning doshas and accepting the need for balance and equilibrium. After years of practice, Ayurvedic massages and its herbal supplements are now increasingly popular in the USA.
Yoga really is one of India’s greatest gifts to the world. With both a mental and physical component, yoga is a highly beneficial wellness activity. One part of yoga’s popularity can be put down to the low cost of taking it up – given its lack of required equipment – and, specifically talking about the west, is its advocacy by numerous prominent celebrities, who have been instrumental in bringing the practice into mainstream consciousness.
Social media can also be given some credit too for the recent popularity. Striking various yoga asanas and participating in “new-age” yoga variations has definitely led to very ‘like-worthy’ photos to share with friends.
From 2012 to 2016, the number of Americans practicing yoga grew 50%. Now, one in three Americans say that they are interested in trying out yoga in the coming year, indicating that we can expect the growth in yoga to continue into the near future among men and women alike, regardless of their age. Yoga is no longer perceived as just a wellness activity reserved for the young – the number of over-50 yoga practitioners has, in fact, recently tripled given its numerous health benefits.
The Asia-Pacific region’s other major impact on global wellness travel will likely come from the Indian wellness traveller. There are roughly 20 million international travellers from India per year, and together they spend around US$28 billion every year. The UNWTO predicts that this will explode to 50 million travellers per year by 2020.
With India’s economy currently the world’s third fastest growing, more and more people will join India’s middle class, start travelling and focus more on their health and wellness. With this immense and rapid Asian growth in international travel combined with a major increase in interest in health and wellness, it is undeniable that Asian travellers are set to play an inescapable influence on the landscape of international wellness travel.
Their travel habits and wellness interests need to be carefully studied by everyone operating in the wellness tourism sector. Only with this information can spa and wellness operators then effectively create the products and services that will most effectively satisfy this important market.