A research partnership between the Global Wellness Institute and Therme Group has spotlighted South Korea’s burgeoning wellbeing economy, currently valued at $113 billion. As the 9th largest wellbeing market, South Korea is not only thriving in its overall wellness economy but also leads the charge in several specific categories. Ranking 6th globally in both physical activity and traditional and complementary medicines and 8th in public health, prevention & personalized medicine, South Korea has demonstrated both growth and resilience post pandemic.
 
Between 2020 – 2022, spa visits increased by 16%, and thermal bathing by 13%, demonstrating that the market is primed for the Therme wellbeing resort proposition. The Group recently announced the location for its first Asia Pacific project, as part of the Golden Harbor development in South Korea’s Incheon City.
 
Remarking on the collaboration with GWI, Stelian Iacob, Senior Vice President of Therme Group commented:

“South Korea has rich and varied wellbeing traditions and a high-growth wellness economy. We are committed to enhancing the wellbeing of South Korea’s residents and visitors and this research provides vital data for the industry. The research shows that people are rediscovering the health benefits of thermal bathing and wellness therapies, and we look forward to working with local partners to bring our unique wellbeing resort experience to the region.”

Download the full report here: https://globalwellnessinstitute.org/geography-of-wellness/south-korea/