Page 24 - The Indian EYE 050523

NORTH AMERICAN Newsline MAY 05, 2023 | The Indian Eye 24

‘Unwind like a Yogi, indulge like royalty’:

Meeting focuses on $ 4.4 trillion wellness economy

Monthly webinars will be conducted on ‘Wellness tourism in India’ with

the Consulate General of India in New York.

OUR BUREAU
New York, NY

he wellness tourism is a big
part of the world’s economy.
TThe 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 civ-
ilizations like India, China, Russia,
Brazil and Indonesia or industrialised
rich nations like Switzerland, Austra-
lia, Netherlands, US, Japan, Germa-
ny, and UK are prominent wellness
markets. The US has the biggest mar-
ket 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 num-
ber. Arunachal Pradesh, nestled in
Himalayas, as a wellness destina-
tion 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 Ayurve-
dic Group. Kairali Ayurvedic Group,
a ten-decade old brand in the disci-
pline of Ayurveda, was founded in
the year 1908. Since then, Kairali
have won hearts of millions of peo-
ple 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.” in particular are increasingly turning planning and budgeting for wellness wellness market is primarily driven by
Wellness is defined as an active to tourism focused on wellness for tourism in their own countries and Ayurveda based treatments or nour-
pursuit of good health and soulful maintaining their health and imbib- globally famous wellness tourism ishing experiences. Ayurveda has its
care for a happy state of mind. Tour- ing royale feelings. The true disciples destinations like India. The wellness origin and historical roots from India
ism is known for organizing and exe- of wellness now carefully plan their economy alone accounts for 5.1% of being an alternative medicine system.
cuting holidays plans or visits to plac- itinerary so as to continue their well- the world’s GDP, entailing 1 in every Ayurveda is popular among tourists
es of interest involving commerce. ness routine even away from home or 20 dollars spent worldwide is spent looking for a holistic experience. With
Wellness tourism is a subset of these at distant locations. on wellness industry. Ayurveda, many modern lifestyle
two in-demand and highly growing The wealthiest countries and up- The Indian wellness market is and disorders can be addressed and
multi-trillion-dollar industries - tour- coming big economies of the world valued at nearly US $ 78 billion in treated. Not just relaxation and re-
ism and wellness. People in general, are making a significant shift towards 2020, with India ranked 12th within juvenation, alternate wellness thera-
and affluent sections of the society wellness, with consumers consciously the top 20 wellness markets. India pies help in curing many diseases too.

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