Spa Industry Surpasses $15 Billion Mark
The International SPA Association (ISPA) released its annual findings of spa industry financial indicators, reporting the industry continues to grow as it surpassed the $15 billion mark.
PricewaterhouseCoopers (PwC) was commissioned to conduct the study by the ISPA Foundation. The study 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.
“It is always an exciting time to reveal the Big Five, as these numbers are strong indicators of the future success and growth of the spa industry. As ISPA celebrates its 25th anniversary, we are proud to report this milestone for the spa industry,” said ISPA President Lynne McNees.
Total revenue passed the $15 billion mark in 2014, up from $14.7 billion in 2013 to $15.5 billion in 2014 (5.3 percent increase). The increase in spa revenues was driven by strong growth in the number of spa visits, estimated to have increased to a record high of 176 million in 2014, up from 164 million in 2013 (6.7 percent increase). As the increase in visits outpaced the rise in spa revenues, there was a slight decline in average revenue per visit, from $89 in 2013 to $88 in 2014 (1.3 percent decrease).
The total number of spa locations rose from 20,180 in 2013 to 20,660 in 2014 (2.4 percent increase). Total employment is estimated to have risen to 360,000 as of May 2015, an increase of more than 10,000 on the May 2014 position (2.9 percent increase).
“This year’s study highlights the strong performance in total revenue and number of spa visits. The growth in these areas shows the US spa industry is buoyant and building on the momentum established in the previous year,” said Colin McIlheney, global research director for PwC.
The complete study will be released in late September 2015.