16 January 2017
Late last year the International Spa Association (ISPA) released its annual findings of spa industry financial indicators, reporting that the industry continues to experience steady growth with increases in overall revenue, locations, number of spa visits and revenue per visit.
PricewaterhouseCoopers (PwC) was commissioned to conduct the study which presents what is known as the ‘Big Five’: total revenue, spa visits, spa locations, revenue per visit, and number of employees for the US spa industry.
“Our annual spa industry study has shown revenue growth each of the past five years, providing strong indicators of the continued future success of the spa industry,” said ISPA president, Lynne McNees. “We are excited to share that both the number of spa locations and full-time employees in the US increased in 2015, making a significant contribution to the overall economy.”
Total revenue passed the $16bn mark in 2015, increasing from $15.5bn in 2014 to $16.3bn in 2015 (5.0% increase). The increase in spa revenue was driven by growth in the number of spa visits, estimated to have increased to 179 million in 2015, up from 176 million in 2014 (2.1% increase). Additionally, there was growth in average revenue per visit, increasing from $88 in 2014 to $91 in 2015 (2.9% increase).
“The figures are clear; it’s a case of all-time record revenues, breaking the $16bn barrier. The next big landmark, which I think is achievable by 2020, is the iconic $20bn figure,” says Colin Mcllheney, global research director for PwC.