Worldwide Wellness Real Estate Sector is Healthy and Growing, New Report Shows
Originally published on September 28, 2021, by Beth McGroarty for Global Wellness Institute.
The nonprofit Global Wellness Institute (GWI), the leading research organization for the wellness industry, today unveiled new data for the wellness real estate market revealing extraordinary recent growth. From 2017-2020, the global market grew 22% on average annually, expanding from $148 billion in 2017 to $225 billion in 2019 to $275 billion in 2020. Wellness residential projects skyrocketed in those three short years, from 740 in 2017 to over 2,300 today.
The market surged in the two years before the pandemic (2017-2019): Wellness real estate grew 23% each year compared with 5.4% growth for construction overall (and this disconnect remained true for every global region). The new research also makes it clear the pandemic further fueled the shift in the real estate and construction industries toward wellness: from 2019-2020, wellness real estate continued to grow by over 22%, even as overall construction shrank by -2.5%.