Spa Industry Reaches 16.3 Billion Dollar Record-setting Revenue Mark
The International SPA Association (ISPA) released its annual findings of spa industry financial indicators, reporting that the industry continues to experience steady growth with increases in overall revenue, locations, number of spa visits, and revenue per visit.
The ISPA Foundation commissioned PricewaterhouseCoopers (PwC) to conduct the study which presents what 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.
“Our annual spa industry study has shown revenue growth each of the past five years providing strong indicators of the continued future success of the spa industry,” said ISPA President Lynne McNees. “We are excited to share that both the number of spa locations and full-time employees in the United States increased in 2015, making a significant contribution to the overall economy.”
Total revenue passed the $16 billion mark in 2015, increasing from $15.5 billion in 2014 to $16.3 billion in 2015 (5.0 percent increase). The increase in spa revenue was driven by growth in the number of spa visits, estimated to have increased to 179 million in 2015, up from 176 million in 2014 (2.1 percent increase). Additionally, there was growth in average revenue per visit, increasing from $88 in 2014 to $91 in 2015 (2.9 percent increase).
“The figures are clear; it’s all time record revenues, breaking the 16 billion dollar barrier. The next big landmark, which I think is achievable by 2020, is the iconic 20 billion dollar figure,” said Colin McIlheney, global research director for PwC.
The complete study will be released at the 2016 ISPA Conference & Expo on September 13.