Monthly webinars will be conducted on ‘Wellness tourism in India’ with the Consulate General of India in New York.
New York, NY
Wellness tourism is a big part of the world’s economy. The global wellness economy is worth US $4.4 trillion in 2022 and is forecast to reach US $7 trillion by 2025. Almost all the world’s densely populated countries and ancient civilizations like India, China, Russia, Brazil, and Indonesia or industrialized rich nations like Switzerland, Australia, Netherlands, US, Japan, Germany, and UK are prominent wellness markets. The US has the biggest market share, 28% of the global wellness market valued at US $ 1.2 trillion and the top 10 markets account for 71% of the global wellness pie.
“The potential of tourism in India is huge. US happens to be a huge market, which can further translate into an even bigger number. Arunachal Pradesh, nestled in the Himalayas, as a wellness destination will excite everyone,” said Mr Randhir Jaiswal, Consul General in New York. The webinar was further addressed by Mr. Abhishek Ramesh, executive director of Kairali Ayurvedic Group. Kairali Ayurvedic Group, a ten-decade-old brand in the discipline of Ayurveda, was founded in the year 1908. Since then, Kairali has won the hearts of millions of people worldwide for its excellence. A fourth-generation entrepreneur, he said, “India has a culture of wellness. The market size of Ayush has grown 17% from 2014 to 2017 to reach US dollars 18.1 billion. The Government of India even issues e-visas to tourists who travel for wellness.”
Wellness is defined as an active pursuit of good health and soulful care for a happy state of mind. Tourism is known for organizing and executing holiday plans or visits to places of interest involving commerce. Wellness tourism is a subset of these two in-demand and highly growing multi-trillion-dollar industries – tourism and wellness. People in general, and affluent sections of the society in particular are increasingly turning to tourism focused on wellness for maintaining their health and imbibing royale feelings. The true disciples of wellness now carefully plan their itinerary so as to continue their wellness routine even away from home or at distant locations.
The wealthiest countries and upcoming big economies of the world are making a significant shift towards wellness, with consumers consciously planning and budgeting for wellness tourism in their own countries and globally famous wellness tourism destinations like India. The wellness economy alone accounts for 5.1% of the world’s GDP, entailing 1 in every 20 dollars spent worldwide is spent on the wellness industry. The Indian wellness market is valued at nearly US $ 78 billion in 2020, with India ranked 12th among the top 20 wellness markets. India’s wellness market is primarily driven by Ayurveda-based treatments or nourishing experiences. Ayurveda has its origin and historical roots in India being an alternative medicine system. Ayurveda is popular among tourists looking for a holistic experience. With Ayurveda, many modern lifestyles and disorders can be addressed and treated. Not just relaxation and rejuvenation, alternate wellness therapies help in curing many diseases too.