The spa industry surpassed its own revenue record for the ninth consecutive year, according to a recent International Spa Association (ISPA) study. Most notably, in 2018 the spa industry reached a record-setting $18.3 billion revenue mark, increasing 4.7 percent up from $17.5 billion in revenue in 2017.
“We are grateful to once again report record growth for the spa industry with 2018 marking a record high $18.3 billion in revenue,” says ISPA president Lynne McNees. “The spa industry continues to prove itself as a thriving market perfect for anyone looking to enter an industry with limitless potential.”
The news comes from ISPA’s annual Big Five spa statistics survey, conducted by PricewaterhouseCoopers (PwC), which consists of total revenue, spa visits, spa locations, revenue per visit, and number of employees. The study revealed that the increase in spa revenue was driven by growth in revenue per visit, which increased by 3 percent from $93.70 in 2017 to $96.50 in 2018. Big Five numbers increased across the board in 2018: the number of spa visits increased from 187 million to 190 million, and the number of spa locations increased by 1.8 percent from 21,770 in 2017 to 22,160 in 2018.
“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," says Colin McIlheney, global research director for PwC. "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 Five show the spa industry still on the march to new highs.”
Each year, the complete Big Five study is released at the annual ISPA Conference and Expo. This year’s study will be released at the 2019 ISPA Conference and Expo, taking place September 11-13 at The Venetian Las Vegas.