Prepared for Caribbean Export Development Agency
From the document:
The global Health and Wellness industry is a rapidly expanding, multi-billion dollar market. Spa and Wellness Tourism is a substantial component of the Health and Wellness Industry. According to the Global Spa and Wellness Summit (GSWS) sponsored Stanford Research Institute (SRI) International Report of 2010, the estimated global market size of the health and wellness industry is said to be nearly USD 2 trillion.
The Spa and Wellness Tourism sector in CARIFORUM countries is generally perceived to be relatively underdeveloped in comparison to destinations such as South East Asia, Western Europe and USA. Spas in CARIFORUM countries generally offer a limited range of treatments.
Several significant problems face the sector. Conceptually these problems can be characterized into two categories: those contributing to insufficient scale and those contributing to the lack of a Caribbean H&W brand identity. Both contribute to an inability by various marketing agencies to effectively market the Caribbean S&W sector, ultimately leading to limited export earnings from the S&W sector.
Notwithstanding these problems, the sector has significant strengths which can be leveraged. The proximity of CARIFORUM member states to major centers of demand as well as the diversity of ethnicities, cultural legacies and their associated health and healing practices in the CARIFORUM region are two such leverage points.
This sector strategy was designed to guide interventions in the Spa and Wellness sector during what this document considers to be a period of Development and Organization for Growth. The strategy will contribute to the development of a Caribbean (CARIFORUM) Spa and Wellness brand identity anchored in quality products and services reflecting unique Caribbean resources and cultural heritage, and ultimately to the overall objective of Increasing Spa and Wellness export earnings in the CARIFORUM region.