The International SPA Association (ISPA) has released its annual findings of five key spa industry financial indicators, which show that the industry continues to experience record growth in overall revenue, number of spa visits, number of spa locations, revenue per visit and total employees.
As in years past, the ISPA Foundation commissioned PricewaterhouseCoopers (PwC) to conduct the annual study. This initial report is known as the “Big Five”: total revenue, spa visits, spa locations, revenue per visit and number of employees for the United States spa industry.
“The data continues to show a healthy and robust spa industry resulting in a wealth of reputable career opportunities for those looking to find a stable work environment,” said ISPA President Lynne McNees. “This study celebrates eight consecutive years of revenue growth with total spa industry revenue exceeding $17 billion in 2017.”
Total revenue surpassed the $17 billion mark in 2017, increasing from $16.8 billion at year’s end in 2016, to $17.5 billion at year’s end in 2017 (4.3 percent increase). The number of spa visits increased from 184 billion in 2016 to 187 billion in 2017 (1.6 percent increase). The number of spa locations also increased from 21,260 in 2016 to 21,770 in 2017. Revenue per visit increased from $91.3 in 2016 to $93.7 in 2017 (2.7 percent increase). Lastly, the total number of employees increased from 365,200 in 2017 to 372,100 in 2018 (1.9 percent increase).
“What is most striking this year is that every one of the key metrics has reached all-time record levels,” said Colin McIlheney, Global Research Director, PwC. “Perhaps the one that catches the eye is that there were more than 500 new spas open for business right across the United States in 2017. This is rapid growth by any standard and is evidence of an industry in robust health.”
The complete study will be released at the 2018 ISPA Conference & Expo at the Phoenix Convention Center in Phoenix, Ariz., from Sept. 24-26.