The Global Wellness Institute (GWI) reveals that Canada’s wellness economy is experiencing remarkable growth, landing among the world’s top ten fastest-growing markets. From 2019 to 2023, the diverse wellness sector thrived, expanding by 7.3 per cent to reach a staggering valuation of US$143.8 billion. This leap illustrates a strong recovery, with the economy surpassing its pre-pandemic value by 33 per cent in 2023.
Canada’s wellness upturn is vividly reflected in its key sectors. Among the 11 sectors analysed, several shine nationally and globally: Mental Wellness ranks as the third largest, followed by Healthy Eating at ninth, and Physical Activity at eighth. Other notable mentions include Public Health and Personalized Medicine at sixth, contributing to this robust wellness landscape.
The GWI report further spotlights significant sectors within Canada’s wellness economy. These include Personal Care and Beauty, Wellness Real Estate, and various health-focused industries. The report outlines a dynamic marketplace, showcasing a well-rounded wellness ecosystem that continues to grow amidst the aftermath of the pandemic.
Allowing nature’s allure to enhance its appeal, Canada’s wellness environment thrives on its vast oceans and rich landscapes. Entrepreneurs and innovators weave a tapestry of activities that ensure community wellness through sustainability. Reflecting this ethos, the country fosters living spaces that embrace nature and community wellbeing, encapsulating holistic lifestyle principles.
Canada’s wellness economy is growing rapidly, with a 7.3% increase from 2019 to 2023, reaching US$143.8 billion. Key sectors like Mental Wellness and Healthy Eating rank highly globally. The market has rebounded 33% from its pre-pandemic valuation to become the eighth largest worldwide, showcasing significant opportunities for growth and sustainability.
In conclusion, Canada’s wellness economy is a vibrant story of recovery and growth. With significant expansions across key sectors and a strong commitment to sustainability, it is poised for continued success. The GWI’s report not only underscores the state of wellness in Canada but also its potential for global competitiveness, making it a significant player in the international wellness landscape.
Original Source: www.spabusiness.com
