Named the sixth Blue Zone for its wide-ranging policies promoting population health and longevity, Singapore has a per-capita spend on wellness (US$2,898) far outpacing both global (US$706) and Asia-Pacific (US$399) averages. The new data is made possible by GWI's continuing partnership with the Singapore Tourism Board
MIAMI, May 8, 2024 /PRNewswire-PRWeb/ -- The non-profit Global Wellness Institute (GWI), the leading research organization for the global wellness industry, today released new data on Singapore's US$16.3 billion wellness economy and all of its ten wellness markets. The country, despite its relatively small footprint (275 square miles with close to six million people), has an innovative and strong wellness economy, ranking #42 globally and #14 in Asia-Pacific. Singapore's per-capita wellness spend (US$2,898) is ranked #20 in the world, far outpacing both global (US$706) and Asia-Pacific (US$399) averages.
The new Singapore data is available on GWI's Geography of Wellness platform thanks to a renewed partnership with the Singapore Tourism Board (STB). STB is committed to establishing Singapore as a sustainable urban wellness destination and is the lead agency for tourism in the country. The agency has been successful in differentiating Singapore from other Asia-Pacific destinations by focusing on its unique wellness attributes, including urban wellness. Since 2022, Singapore has hosted the Wellness Festival Singapore (WFS), a key nationwide effort to promote holistic wellbeing for locals and visitors. Beyond that, the festival serves as a unique launchpad for the industry to test innovative concepts such as fitness and wellness classes at key attractions like Changi Jewel's HSBC Rain Vortex, the world's tallest indoor waterfall, and the Singapore Zoo.
"The Singapore Tourism Board's unique efforts to establish the city as a premier urban wellness destination in Asia should be commended, and according to our new research, Singapore's wellness tourism market grew an impressive 66% from 2021 to 2022," said Susie Ellis, GWI's chair & CEO. "STB's continued commitment to making GWI's data available to all will help the world understand the opportunities across the country's wellness markets and help the wellness tourism space grow."
"We are delighted to continue our partnership with the Global Wellness Institute, which reinforces our commitment to grow Singapore's appeal in the wellness tourism space," said Ms. Ong Ling Lee, executive director of Sports & Wellness at the Singapore Tourism Board. "GWI's expertise and insights will augment Singapore's position as a leading urban wellness haven that prioritizes holistic wellbeing and offers accessible and innovative experiences for both locals and visitors."
Singapore is renowned as a "City in Nature" and an urban biophilic wellness destination that embodies holistic wellness. In the heart of its bustling cityscape lies Gardens by the Bay, a verdant oasis showcasing Singapore's rich flora and fauna, seamlessly connected to 300 km of park connector trails and greenways to other urban attractions. Residents and visitors are encouraged to walk, run, bike or skate, integrating physical activity with exploration and transportation.
Besides building healthy living into its residents' everyday environments, Singapore also empowers its population to lead a more active lifestyle and influences them to make healthier food choices when they dine and pick up their groceries.
Notably, Singapore was recently named the sixth Blue Zone worldwide (places where people live the longest) by Dan Buettner, Blue Zones founder, National Geographic Fellow and New York Times bestselling author. The country is the first "Blue Zone 2.0" because, rather than traditional ways of life solely driving population longevity, Singapore has "engineered" improved health and healthspan by a host of creative government policies, and it has boosted average life expectancy to 83 years from 72 years in 1980.
New Singapore Wellness Economy Data
Below are snapshots, in order of market size, of all the sectors that make up Singapore's wellness economy. More data can be found here, including a detailed, downloadable country report entitled The Global Wellness Economy: Singapore.
Singapore Wellness Economy by Sector (US$):
(Numbers refer to each market's global rank, growth from 2020 to 2022, and current market valuation.)
Personal Care & Beauty: #34, +9.8%, $5.5B
Public Health, Prevention & Personalized Medicine: #27, +11%, $2.3B
Physical Activity: #45, +17.6%, $2.3B
Wellness Real Estate: #17, +28.7%, $2B
Healthy Eating, Nutrition & Weight Loss: #60, +4.8%, $1.9B
Traditional & Complementary Medicine: #36, +3.9%, $970M
Spas: #32, +35%, $540M
Wellness Tourism: #63, +66.4%, $500M
Workplace Wellness: #30, +4.4%, $270M
Mental Wellness: #54, +15.8%, $250M
Total Wellness Economy: #42, +13.5%, $16.34B
The report provides further data and insights on the country's wellness market segments, including its fast-growing wellness real estate sector ($2 billion), where the percentage of total construction output with a wellness focus is 6.5%, and its high-spending wellness tourism, where average expenditures for primary wellness trips is $2,050 and secondary trips is $1,964.
About the Global Wellness Institute
The Global Wellness Institute (GWI), a nonprofit 501(c)(3), is considered the leading global research and educational resource for the global wellness industry and is known for introducing major industry initiatives and regional events that bring together leaders to chart the future. GWI positively impacts global health and wellness by educating public institutions, businesses and individuals on how they can work to prevent disease, reduce stress and enhance overall quality of life. Its mission is to empower wellness worldwide.
(1) Per capita spend is calculated by averaging the total valuation of Singapore's 11 wellness economic sectors (such as wellness tourism, wellness real estate, personal care & beauty, etc.) across the total population.
Media Contact
Cassanda Cavanah, Cavanah Communications, 8183974630, [email protected], http://www.globalwellnessinstitute.org/
SOURCE Global Wellness Institute
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