- Wellness is a powerful consumer movement and a growing force in the global economy. Prior to the pandemic-induced downturn, the wellness economy and its component sectors consistently grew faster than global GDP over the last decade, peaking at $4.9 trillion (or 5.6% of global GDP) in 2019.
- The rapid rise of consumer spending on all things related to wellness has attracted widespread attention of media, businesses, investors, and, increasingly, the health sector – all of whom are interested in opportunities to grow the wellness economy and their share in it.
- In a world that has not yet emerged from the COVID-19 pandemic, and that continues to face economic volatility, it is time to step away from the hype of wellness as a consumer trend and a business investment opportunity. The impact of the pandemic on wellness has been complex.
- It temporarily put a pause on many wellness services, businesses, and activities, while simultaneously accelerating our interest in self-care, prevention, and immunity. We are grappling with the massive failures of public health systems, millions of deaths, and widespread suffering, while also recognizing the critical importance of healthy lifestyles, personal resilience, community support, and social safety nets.
