One Of World’s Fastest-Growing Economies Also Boasts Rapidly Growing, Evolving Spa Industry
New York, NY (PRWEB) — India has increasingly been on the world’s (and West’s) radar: from the tragic terror attacks in Mumbai, to the worldwide popularization of ‘Bollywood,’ to the release of the acclaimed, Oscar-contending film Slumdog Millionaire. The picture of modern Indian society emerging from these events and representations is of course complex: While Slumdog Millionaire has been criticized by some for its ‘stereotypical’ depiction of Indian working-class poverty, the news footage of the Mumbai attacks revealed a very modern India in the throes of rapid economic development, featuring new super-luxury resort hotels.
With the IMF recently releasing data that India and China represent the two fastest-growing world economies, there’s no debate that the country is developing at a breakneck pace, unleashing new class mobility, and newly evolving markets. One economic sub-sector experiencing significant growth and evolution is the spa industry in India, which, according to SpaFinder Research, represents one of the most interesting global spa economies to watch in 2009–and beyond.
The Indian spa industry currently boasts over 2,300 spas, generating revenue representing approximately USD $384 million annually. Initiatives are underway to train spa personnel to meet the growing demand for these 2300+ spas, and for the hundreds–even thousands–more that are likely to establish themselves in the next five to ten years. While the spa market in India is still a modest sliver of the overall $60-billion-plus core global spa economy, India is poised to attract significantly more western tourists (particularly on the medical/wellness travel front)…as well as continue to develop its own vibrant, indigenous spa market at a heady pace.
According to SpaFinder Research, here are some emerging trends that should play out in the booming Indian spa market in 2009:
Thou Who Seekest a Spa, Will Find One.
With over 700 spas predicted to open doors in the next 2-4 years, there’s no doubt that the spa industry in India is growing fast. CMYK Health Boutique’s Fountain Spa, Cravatex’s Spa Zieta, Floriana Group’s Chandan Sparsh and Franchise India Holding’s Spa Siam are among the several companies with major expansion plans.
Yoga, Ayurveda Represent Serious Business, Now More Than Ever
In 2009, both yoga and ayurveda will continue to be classic examples of global cross-pollination across borders. Yoga, one of the most powerful and profitable wellness modalities in the word, is a lifestyle for millions of people who are increasingly enthusiastic about traveling to the spiritual and cultural source: India. Indian spas will also continue to expand their Ayurvedic menus, for both their passionate overseas clientele who want to experience authentic Ayurvedic therapies–as well as for local enthusiasts, either already familiar with the benefits, or who wish to adopt their own Indian healing traditions for the first time. Also gradually growing on the western consumer’s radar is Ayurvedic medicine, which is often introduced to consumers in other countries via the spa industry. As state tourism departments (particularly in the Kerala region) more aggressively promote and package Ayurveda, look for new legislation mandating scientific methods and quality control, trained therapists, Ayurvedic doctors and license certifications.
» Read more: SpaFinder Announces 2009 Top 10 Spa Trends for India