The Global Wellness Institute highlights Thailand’s unique wellness advantages in the new Geography of Wellness platform
BDMS Wellness Clinic has partnered with GWI to bring targeted research into Thailand’s current position and opportunities within the $4.4 trillion wellness economy to everyone.
MIAMI, FL – The nonprofit organization Global Wellness Institute (GWI), the leading research and education resource for the $4.4 trillion global wellness industry, announced Thailand as the third country to join its new “geography of well-being“Microsite. Singapore and Brazil were the first two countries to be added to the newly launched resource, which went live in May.
Credit for this deep dive into Thai wellness economics data BDMS Wellness Clinic, the flagship spa of Thailand’s largest private healthcare network, Bangkok Dusit Medical Services (BDMS). Operating on the simple philosophy that prevention is better than cure, BDMS Wellness Clinic uses advanced science and technology to help physicians predict future health problems and prevent disease while improving mental and physical performance.
“GWI’s ‘Geography of Wellbeing’ is a platform created to give countries a deeper understanding of where they are positioned in the $4.4 trillion wellness economy,” said Susie EllisGWI Chairman and CEO. “This gives entrepreneurs, corporations, academics and government agencies a clear view of where near- and long-term opportunities may lie. Thank you to country partners such as BDMS Wellness Clinic for recognizing the value of these insights.”
Thailand’s wellness economy grew an impressive 29% between 2017 and 2019, according to GWI data. That growth understandably stagnated and declined amid the pandemic’s tough travel restrictions, as a large chunk of Thailand’s wellness economy came from wellness tourism and spas, two sectors that have been hit hard.
For context, GWI researchers say the total global wellness economy grew from $4.3 trillion in 2017 to $4.9 trillion in 2019, or 6.6%, significantly outpacing global economic growth ( 4%). In 2020, however, the wellness economy fell 11% to $4.4 trillion and was hit harder than global GDP, which fell 2.8%.
GWI’s wellness economy macro market data, along with an in-depth look at the Asia Pacific region and Thailand specifically, can be found in the newly released The Global Wellness Economy: Thailand report, available for free download thanks to BDMS . Partnership.
“Of the 11 sectors that implemented GWI actions, one of the biggest winners from the pandemic was the ‘Public Health, Prevention and Personalized Medicine’ sector, which grew 6.5% from 2019 to 2020,” said dr. Tanupol VirunhagarunManaging Director of BDMS Wellness Clinic. “BDMS is honored to have played a significant role in this growth.”
“We see our partnership with GWI as a tangible way to give back to the local wellness community by fostering deeper knowledge of Thailand’s unique wellness assets and helping create a roadmap to our country’s share in the growing wellness community. to expand the economy.” drove Dr. Virunhagarun away.
Today, Thailand’s overall position in the Asia-Pacific wellness economy is currently ranked 9th, while its global ranking is 24th.
The latest report from GWI researchers, The Global Wellness Economy: Looking Beyond Covid, predicts that the wellness economy is on track to reach $7 trillion by 2025 (which represents a huge growth opportunity, especially given the Recreation from tourism and travel.
Wellbeing in Thailand
Known as a top tourist destination not only for its tropical islands, cuisine, cultural richness and bustling markets, Thailand is also known for its world-class holistic wellness and health centers. With well-established tourism, medical and wellness sectors, Thailand caters to both tourists and locals looking for the very best in health and wellness. The popularity of the country’s traditional therapies and herbal remedies has made ‘Thai massage’ a sought-after treatment worldwide.
Thailand has also emerged as a leader in medical wellness and is well respected for its comprehensive health checkups and wellness retreats, making it an ideal destination for those seeking top quality health and wellness services at affordable prices.