From www.businesswire.com
Technavio analysts forecast the spa market in Europe to grow at a CAGR of close to 9% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the spa market in Europe for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top four vendors.
Europe is the largest market for spas worldwide. The spa industries in most European countries have recovered well from the economic crisis of the early 2010s and will see strong growth during the forecast period. In terms of wellness tourism expenditures, the analysts at Technavio expect the region to gain USD 225 billion; in terms of wellness trips, the region is expected to gain approximately USD 245 million. Nearly 36,000 spas operate in the region, with Germany being the largest market. Russia’s spa industry has also grown significantly in the last five years.
