SINGAPORE, 17 October 2019: The global physical activity economy is worth an awesome USD828 billion according to a research study “Move to be Well released this week by the Global Wellness Institute.
The nonprofit research and educational resource institute for the world wellness industry released a data-packed, 180-page report finds that the “physical activity economy”– which includes fitness, sports & active recreation, mindful movement, equipment, apparel/footwear, and technology.
These economic activities represent USD828 billion in global turnover and will grow to at least USD1.1 trillion by 2023. Wellness jumps to a USD4.5 trillion global industry.
Access the full report at globalwellnessinstitute.org/industry-research.
The research finds that Asia-Pacific is now the second physical activity market, valued at USD240 billion annually, or roughly 30% of the global market.
But Asia will be the overwhelming growth leader from 2018-2023, with a market expanding 9.2% annually, to reach USD373.3 billion by 2023 (when it will overtake North America as the world’s largest market). Asia-Pacific will account for a staggering 40% of all global market growth from 2018-2023; China and India together will drive nearly one-third of all growth.
The report goes in-depth on the Asian consumer spending within all six markets, participation rates for Asian nations, the emerging trends and business opportunities across Asia.
Top-10 Recreational Physical Activity Markets in Asia Market size & global rank (among top 20)
1) China: USD109.3 bil. – 2
2) Japan: USD43.9 bil. – 3
3) South Korea: USD23.5 bil. – 7
4) Australia: USD16.7 bil. – 10
5) India: USD13.4 bil. – 13
6) Taiwan: USD7.7 bil. -19
7) Hong Kong: USD4.1 bil.
8) New Zealand: USD3 bil.
9) Thailand: USD2.9 bil.
10) Indonesia: $2.6 bil.
The Global Wellness Institute (GWI), a nonprofit 501(c)(3), is considered the leading global research and educational resource for the global wellness industry and is known for introducing major industry initiatives and regional events that bring together leaders to chart the future.