US is world’s top wellness economy – worth $1.2trn, reports GWI
The Global Wellness Institute (GWI) has penned a new report about the US wellness economy after partnering with the National Academy of Sports Medicine (NASM).
Valued at more than US$1.2trn (€1.1trn, £994.3bn), the report names the US as the top wellness economy in the world. It boasts the largest markets in nine out of 11 of the wellness sectors assessed by the GWI – spanning physical activity, healthy eating, mental wellness, beauty and personal care, wellness tourism and more.
According to the new report, the US wellness economy contracted from US$1.4trn (€1.3trn, £1.2trn) in 2019 to US$1.2trn (€1.1trn, £994.3bn) in 2020 – a number that is expected to continue its upward trajectory.
Findings also showed that the physical activity segment in the US experienced an 18 per cent contraction in 2020, yet remains number one in the world at US$215bn (€201.5bn, £178.2bn).
The physical activity sector includes consumer spending associated with planned physical activities performed during leisure and recreation, including three recreational activity subsectors (sports and active recreation, fitness and mindful movement) and three enabling subsectors (technology, equipment and supplies, apparel and footwear).