Written by Shawndra Russell
In 2018 the wellness industry is booming—even more so in Western North Carolina, a region with a long, storied legacy of wellness-related procedures.
Higher stress levels, constant stimulus, and rising healthcare costs represent some of the factors that have driven the wellness industry to become a $4.2 trillion-dollar global industry as reported in October by the nonprofit Global Wellness Institute (GWI). Especially over the last ten years, wellness—relating to actions consumers take to promote their own physical and mental well-being—has permeated nearly every consumer market far beyond just the fitness and spa worlds, from real estate to tourism to workplace wellness.
As GWI’s senior research fellow Ophelia Yeung recently observed at the Global Wellness Summit held in early October, “We’re going to see more and more wellness creeping into what we think is generic type of spending.” Perhaps with 40% of people reportedly feeling more anxious in 2018 than in 2017 according to the American Psychiatric Association’s poll released in March, we shouldn’t be surprised that more folks have turned to wellness to combat their stress.
All signs point to the wellness industry continuing to boom, with the wellness real estate market alone projected to hit nearly $200 billion by 2022, according to Fast Company business/media magazine. But the highest-earning wellness category remains personal care and beauty, topping $1 trillion dollars. This lucrative wellness industry has certainly grabbed the attention of some high-profile hotel brands including Westin, now a partner with the Peloton indoor bike company, and Hyatt, which purchased Exhale, a wellness and fitness brand. Retailers have also jumped into this space, with Anthropologie offering nearly 500 wellness products online, and Urban Outfitters slinging nearly 250 results under their lifestyle/wellness online store.
The full article continues below, with special sidebars on different types of therapies, spa regulations, licensure requirements in NC, and more. Click to open in fullscreen…