How Fast is the Spa Industry Growing?
Growth has continued in some areas of the spa industry; but not in all areas. Following are the key growth areas: • Locations: The number of spa locations continued to grow between the 2002 and 2004 studies at an average annual rate of 12%. Interestingly, the growth rate in the number of spas has gradually moderated since its peak at 51% in 2000. Between 2002 and 2004, the medical spa segment expanded faster than any other segment, with the number of medical spas growing by 109% compared to 26% for the U.S. spa industry as a whole. Resort/hotel spas have also grown faster than the industry average. • Revenues: Aggregate industry revenue growth has moderated over the last couple of years. Between 1997 and 2001, aggregate revenue was doubling every two years. However, in 2002 the industry saw a more moderate growth rate of 6.5% bringing industry revenue to $11.4 billion. This growth rate is more in line with what other key leisure industries experienced in 2002 and is more sustainable ov
