Global Yoga Tourism Market Size to Grow at a Steady CAGR of 5.2% During 2023–2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects global yoga tourism market size to grow at a steady CAGR of 5.2% during the forecast period between 2023 and 2029.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects global yoga tourism market size to grow at a steady CAGR of 5.2% during the forecast period between 2023 and 2029. Major growth factors for global yoga tourism market include the increasing popularity of outdoor yoga classes provided during long weekend breaks, festival holidays, and seasonal options. In recent years, the yoga market has grown significantly. It has benefited from several trends, including the rise of leisure and the development of boutique fitness, as well as complementary trends.
Global Yoga Tourism Market – Overview
Wellness tourism refers to the practice of traveling to improve one's physical, mental, and spiritual well-being. The desire for a healthy lifestyle, stress reduction, and the desire to avoid illnesses are the primary drivers of increased demand for wellness tourism. Tourists engage in spiritual, physical, and mental activities by visiting spas, practicing yoga, staying at health resorts, and attending meditation retreats. Personal wellbeing is promoted by the desire to interact socially with locals and learn about other cultures, which drives the growth of the wellness tourism industry.
Opportunity: Increasing Internet Use
The deepening penetration of internet-enabled smart electronic devices, such as laptops, tablets, and smartphones, is leading to a significant increase in the number of wellness tourists. Social media marketing by travel agencies and other tourism-related service providers has a significant positive effect on the growth of the wellness tourism sector in the current digital era. Internet users are being actively educated about wellness tourism and its benefits. The ease with which travel service providers make it possible to book tickets and make travel plans have changed consumers' preferences for online ticket booking over the past few years.
Impact of COVID-19 on Global Yoga Tourism Market
Global yoga tourism market expansion was impacted by COVID-19. Following the pandemic, consumers are eager to engage in self-recreational activities, such as yoga, art therapy, and meditation for longer periods, which is driving the demand for yoga tourism. Due to the outbreak, people spent a lot of time inside their homes. Due to the significant loss of social engagement brought on by these restrictions, mental stress has increased. To assist clients in reducing mental stress, several wellness companies have introduced online yoga and meditation classes. The market has grown positively because of this factor.
Global Yoga Tourism Market – By Region
Geographically, global yoga tourism market covers five major regions: North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa. The majority of share in the market is held by APAC. According to research by the United Nations World Tourism Organization (UNWTO), travelers from the APAC region are spending more money abroad than they did ten years ago. Since many years ago, Asian healing theories and methods have had a profound impact on the health industry, from yoga and ayurveda to traditional Chinese medicine's concepts of balance and vitality.
North America is expected to grow at a significant CAGR from 2023 to 2029. Because of the growing importance of both physical and mental health, one of the main factors driving the yoga tourism industry in North America is the growing popularity of holistic therapies that support health and wellness travel. Because of the growing importance of both physical and mental health, as well as the high level of disposable income in this region, the market position is expected to improve throughout the forecast period.
Global yoga tourism market is fiercely competitive. Prominent players include OSHO International Foundation, Yoga Travel & Beyond GmbH, Tour radar, Tripaneer (book yoga retreats), Intrepid Travel, Kamalaya Co Ltd, Samahita International Co. Ltd., Schloss Elmau GmbH & Co. KG., Smiling Mind, Inner Explorer Inc., Committee for Children, Stop, Breathe & Think PBC, Simple Habit, Inc., Calm, and Headspace Inc. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in global yoga tourism market.
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