Market Report: Health & Wellness India
By on September 30, 2013
Horwath HTL Health and Wellness is the newly conceived division of Horwath HTL, specialising in the development of destination retreats, lifestyle and wellness centres, bathhouses, resort, hotel, medical, and day spas, and health and fitness clubs globally.
Founded by Ingo Schweder, Horwath HTL Health & Wellness provides a range of wellness focused project consulting, including market research and feasibility studies, brand and concept development, and executive recruitment. GOCO Hospitality, also founded by Ingo Schweder, is a specialty management company concentrated on similar types of health and wellness facilities, including mixed-use wellness communities, resorts, and hotel spas, with over 20 projects in countries across the globe.
India stands at the forefront of today’s global spa and wellness market, alluring domestic and international visitors alike with the time-honored traditions of Ayurveda and yoga and high quality, affordable medical tourism. Now poised to become the fifth largest consumer market globally by 2020, India demonstrates all the demographic advantages of an ideal market for leading international spa and wellness brands.
At present, the country boasts a 350-million strong middle class, a notably large youth population (50% of which are under the age of 25), rising
levels of disposable income, and associated increases in overall aspiration and experimentation, as well as obesity, related health issues, and health consciousness (PricewaterhouseCoopers, 2012) These factors, in conjunction with a growing number of low-cost domestic airlines, like SpiceJet and IndiGo, suggest that demand for all things wellness and spa is expected to grow in the coming years.