Spa Industry Surpasses $17.5 Billion Revenue Mark
The International SPA Association (ISPA) released its full annual findings of spa industry indicators, reporting a record high in total spa industry revenue at over $17.5 billion in 2017. This marks a 4.3% increase from $16.8 billion at year’s end 2016.
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.
“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 marks eight consecutive years of revenue growth with total spa industry revenue exceeding $17.5 billion in 2017.”
Also setting a record high, spa locations in the U.S. are now at 21,700, surpassing the previous high of 21,300 recorded in 2008 just before the recession. The net increase of 510 spa locations in 2017 equates to just shy of 10 new spas entering the market in the U.S. every week. The study also revealed total visits to be 187 million – the equivalent of over 511,000 people visiting U.S. spas each day.
“What is most striking is the across the board surge in numbers,” said Colin McIlheney, Global Research Director at PwC. “All key performance metrics are on a strong upward trajectory. This is evidence of an industry enjoying a sustained period of robust growth.”
The complete study was released at the 2018 ISPA Conference & Expo taking place in Phoenix September 24 – 26.