SPA & Wellness
Spa and Wellness IndustryThe spa industry is huge and one of the fastest-growing segments of the hospitality and leisure industry with revenue exceeding those from amusement parks, box office receipts etc. According to 2018 WHO Data, the global wellness economy is valued at $4.5 trillion (2018 data).Wellness expenditures ($4.5 trillion) are more than half as large as total global health expenditures ($7.8 trillion).
Spa Economy: $119 billion in 2017
The market players have enhanced the operations and support services to build a better brand image. With the spa industry undergoing rigorous growth, the innovative marketing and positioning strategies are expected to increase in future in order to create diversity and attract consumers.
Furthermore, according to a Technavio market research report, the demand for spas is growing not only in the U.S. but around the world. The global spa market is forecast to rise at a compound annual growth rate (CAGR) of 5.66% from 2017 to 2021.
Last but not least, apart from the spa and wellness industry, .spa can also be an abbreviation to represent a form of business in Italy and South American countries:
Società per Azioni (a form of corporation in Italy, Public Limited Companies By Shares)
Sociedad por acciones (Joint-stock company in South American Countries)
This offers a great opportunity for entitles in Italy and South American Countries to register a wonderful name.