Latin America Wellness Tourism Market Size & Outlook
Latin America wellness tourism market, 2016-2030 (US$B)
Related Markets
Latin America wellness tourism market highlights
- The Latin America wellness tourism market generated a revenue of USD 28.2 billion in 2022.
- The market is expected to grow at a CAGR of 12.1% from 2023 to 2030.
- In terms of segment, lodging was the largest revenue generating service in 2022.
- Wellness Activities is the most lucrative service segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 28.2 billion |
| Market revenue in 2030 | USD 70.3 billion |
| Growth rate | 12.1% (CAGR from 2022 to 2030) |
| Largest segment | Lodging |
| Fastest growing segment | Wellness Activities |
| Historical data covered | 2016 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | In-country Transport, Lodging, Food & Beverage, Wellness Activities, Shopping |
| Key market players worldwide | Hilton Worldwide Holdings Inc, Accor SA, Hyatt Hotels Corp Class A, Marriott International Inc Class A, New World Development Co Ltd, InterContinental Hotels Group PLC ADR, Four Seasons Hotels and Resorts |
Other key industry trends
- In terms of revenue, Latin America region accounted for 3.5% of the global wellness tourism market in 2022.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 470.4 billion by 2030.
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Wellness Tourism Market Scope
Wellness Tourism Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America wellness tourism market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to wellness tourism market will help companies and investors design strategic landscapes.
Lodging was the largest segment with a revenue share of 22.7% in 2022. Horizon Databook has segmented the Latin America wellness tourism market based on in-country transport, lodging, food & beverage, wellness activities, shopping covering the revenue growth of each sub-segment from 2016 to 2030.
Latin America wellness tourism market is primarily driven by Brazil, Mexico, and Argentina. In addition to local consumers, tourism for wellness services is also driving the market in this region. Increasing availability of spa facilities has led to competitive pricing.
Thus, large corporations provide complementary services to sustain their position amid the growing competition. Brazil dominated the Latin American market in 2022 and is expected to maintain its position during the forecast period. Major investments by key market players in the emerging economy, large target population, and availability of well-equipped spas are expected to drive the market in Brazil.
Over half of Latin American and Caribbean governments actively promote wellness tourism on their national tourism websites. 10 years ago, only six countries in the region were promoting wellness tourism. Currently, national tourism ministries and promotion boards are highly interested in the industry.
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Target buyers of Latin America wellness tourism market databook
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Our clientele includes a mix of wellness tourism market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America wellness tourism market, including forecasts for subscribers. This continent databook contains high-level insights into Latin America wellness tourism market from 2016 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America wellness tourism market size, by country, 2016-2030 (US$B)
Latin America Wellness Tourism Market Share, 2022 & 2030 (US$B)
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