Spa Industry Reaches Record-setting 18.3 Billion Dollar Revenue Mark
LEXINGTON, Ky., Aug. 6, 2019 /PRNewswire/ -- The International SPA Association (ISPA) released it annual findings of the celebratory twentieth anniversary edition of the ISPA US Spa Industry Study, marking nine years of steady growth while once again showing increases in all key financial indicators.
The ISPA Foundation commissioned PricewaterhouseCoopers (PwC) to conduct the study which presents what is known as the "Big Five" spa statistics: total revenue, spa visits, spa locations, revenue per visit, and number of employees for the United States spa industry.
"We are grateful to once again report record growth for the spa industry with 2018 marking a record high 18.3 billion in revenue," said ISPA President Lynne McNees. "The spa industry continues to prove itself as a thriving market perfect for anyone looking to enter an industry with limitless potential."
Most notably from this study, total revenue passed the $18 billion mark in 2018, increasing from $17.5 billion in 2017 to $18.3 billion in 2018, a 4.7% increase. The increase in spa revenue was driven by growth in revenue per visit, increasing from $93.70 in 2017 to $96.50 in 2018, a 3% increase. The number of spa visits also saw a rise from 187 million in 2017 to 190 million in 2018. Additionally, the number of spa locations increased 1.8% from 21,770 in 2017 to 22,160 in 2018.
"The number of spas is at an all-time record. There are now more than 22,000 across the country, continuing to expand its footprint," said Colin McIlheney, Global Research Director, PWC. "The other notable statistic is that revenues are getting ever close to the iconic 20-billion-dollar mark. This remarkable threshold could be reached during 2020. The results from the Big 5 show the spa industry still on the march to new highs."
The complete study will be released at the 2019 ISPA Conference & Expo at The Venetian in Las Vegas, Nevada September 11 – 13.
About the International SPA Association:
ISPA, with its headquarters in Lexington, KY and managed by Associations International, is recognized worldwide as the leading professional organization and voice of the spa industry. Founded in 1991, ISPA advances the spa industry by providing invaluable educational and networking opportunities, promoting the value of the spa experience and speaking as the authoritative voice to foster professionalism and growth. More details on ISPA are available on experienceispa.com.
About the ISPA Foundation:
The ISPA Foundation is the 501(c)3 arm of ISPA and was created in 1999 to serve the educational and research needs of the industry. The ISPA Foundation's mission is to improve and enhance the value of the spa experience; their vision is to advance spa culture to sustain health and well-being.
MEDIA CONTACT:
Allison Martin
859.226.4334
[email protected]
SOURCE International SPA Association
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