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Real Business : Issue 3 2008
Healthy growth The global wellness industry is worth more than US$1 trillion (A$1.09 trillion). One of the fastest-growing segments is spa centres aimed at renewing the body, mind and spirit in a relaxing environment, according to a recent study. In a report commissioned by the Global Spa Summit and released in May, the Stanford Research Institute found that across the world the spa industry is worth US$250 billion a year. Spas offer everything from body wraps, laser surgery and chronic disease management. There are more than 71,000 spa facilities worldwide, offering services including massages, facials, body treatments, salon services, water- based treatments and health assessments. In 2007 this generated about US$46.8 billion in revenues and employed about 1.2 million people. To give you an idea of how this income is generated, at Sydney’s upmarket Zen Day Spa, clients pay $265 for a three-hour rejuvenating package, which includes a facial, Swedish remedial massage and express pedicure and manicure. Or, if it’s inner beauty they are seeking, they may opt for an hour of chakra balancing for $105, or 60 minutes of flower essence therapy for the same price. While the spa and wellness industry is expanding, experts at the recent Global Spa Summit said a worldwide labour shortage is constraining growth. In a bid to fill the gap, courses are offered at institutions such as the Australian College of Natural Medicine. Melbourne’s RMIT University has launched a master of wellness program, which will include subjects on lifestyle enhancement, wellness assessment and positive psychology, supplemented with a series of electives in specialised areas including nutrition, manual therapies and management. REAL BUSINESS ISSUE 3, 2008 23
Issue 1 2009