Spa industry revenue hits record highs

Spa industry revenue has reached new heights according to ISPA’s latest annual findings.

Total spa revenue reached18.3 billion USD in 2018, up 4.7% from $17.5 billion in 2017. The increase was driven by growth in revenue per visit, which was up from $93.70 in 2017 to $96.50 in 2018, a 3% increase. There was also an increase in the number of spa visits, which rose from 187 million in 2017 to 190 million in 2018. Moreover, the number of US spa locations increased 1.8% from 21,770 in 2017 to 22,160 in 2018.

This year’s annual findings mark the International SPA Association’s (ISPA) twentieth anniversary edition of the ISPA US Spa Industry Study. The findings show nine years of steady growth as well as increases in all key financial indicators. The ISPA Foundation commissioned PricewaterhouseCoopers (PwC) to conduct the study.

The report tracks what are known as the “Big Five” spa statistics: total revenue, spa visits, spa locations, revenue per visit, and number of employees for the United States spa industry.

“We are grateful to once again report record growth for the spa industry with 2018 marking a record high 18.3 billion in revenue,” ISPA President Lynne McNees said in a statement. “The spa industry continues to prove itself as a thriving market perfect for anyone looking to enter an industry with limitless potential.”

And Colin McIlheney, Global Research Director, PWC, is quoted as saying, “The number of spas is at an all-time record. There are now more than 22,000 across the country, continuing to expand its footprint. The other notable statistic is that revenues are getting ever close to the iconic 20-billion-dollar mark. This remarkable threshold could be reached during 2020. The results from the Big 5 show the spa industry still on the march to new highs.”

The complete study will be released at the 2019 ISPA Conference & Expo at The Venetian in Las Vegas, Nevada September 11 – 13.

 

Spa Executive magazine is published by Book4Time, the world’s most innovative spa, salon, wellness, and activity management software. Learn more at Book4Time.com.

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