
The Global Wellness Institute (GWI) unveiled its annual "Country Rankings" report. This unique research piece is the only one of its kind, critically analyzing and measuring the wellness market worth in 140 distinct countries. The U.S. wellness market, valued at a staggering $2 trillion, constitutes a significant 32% of the global wellness economy. An average American is now spending more than $6,000 annually on wellness — a milestone achievement.
The report has identified some intriguing trends. The U.S., a perennial leader in the wellness economy, has not only maintained its first position, but is also expanding its dominance. It is growing at an impressive annual rate of 8.3% from 2019 to 2023, dwarfing the growth rates of other wellness powerhouses such as China, Germany and Japan.
“The United States continues to lead the global wellness economy, not only by its size and per capita spending, but also by its resilience and growth,” said Katherine Johnston and Ophelia Yeung, GWI senior research fellows. “However, US healthcare spending continues to skyrocket while health outcomes are still among the worst compared to other wealthy countries. So, it is fair to ask if this massive consumer wellness market can spend its way to broad-based health and well-being.”
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Contrary to popular belief, the growth narrative is not confined to the U.S. — the wellness economies of many countries are expanding rapidly. Each one of the top 25 wellness markets worldwide has exceeded its pre-pandemic value. Countries like Mexico, India, Poland, Australia, the Netherlands, Canada, the UK, and Indonesia have shown exceptional growth since 2019. Each of these markets is now worth more than 130% of their 2019 values. The biggest growth drivers from 2022 to 2023 have been Thailand, Mexico, Austria, Poland and India.
In a companion to this report, GWI's 2024 Global Wellness Economy Monitor projects that the world wellness economy, currently valued at $6.3 trillion, is set to accelerate up to $9 trillion by 2028. This forecast signals that the wellness economy is not just surviving but thriving, promising a healthier and wealthier future.