The value of the Global wellness economy shrank in 2020 from 4.9 trillion USD in 2019 to 4.4 trillion (falling 11%). The economy however, is projected to grow to 7 trillion in 2025, a growth rate of 9.9% compared to the global GDP of 7.3%.
For the Latin America-Caribbean region the wellness economy fell by 22.1% from 2019 to 2020, the greatest decline of all the regions.
While most sectors of the global wellness economy shrank during this time, four sectors flourished as people focused on wellness. Wellness real estate saw 22.1% growth, mental wellness 7.2% growth, public health, prevention and personalized medicine 4.5% growth, healthy eating, nutrition & weight loss grew by 3.6%.
BBC Global News announces launch of new wellness series
BBC Global News announced the launch of a new series on wellness. Individuals of the wellness industry are invited to submit their stories for consideration for the series. The BBC seeks to showcase relatable stories with a human element.
The new era in travel
Traveling will never go back to what it was, it will only continue to evolve. Nothing has been so catastrophic to travel as the situation over the last 18 months in our lifetime. Countries have different standards and regulations surrounding travel and vaccine requirements and are not yet collaborating. Intergenerational travel will increase and the ability for people to work as digital nomads. Wellness tourism will be positively affected by this change as people prioritize wellness during travel.
Wearing masks during travel and social distancing will continue. There is a strong desire to travel as people have been saving for the time when it’s possible, but flight prices and travel in general will be more expensive.
You’re Younger Than You Think
90 will be the new 40! Longevity will be the next disruptor; plan for a younger future. Life expectancy has been linear, up to now we have delayed aging, now we will be able to reverse it.
The norm is to prevent aging, the body and brain decline after 40, however specific behaviors can prevent this decline almost exclusively, the challenge is getting people to adhere to healthy behaviors. You are a genetic engineer, 80% of genes are under your control, you can turn your genes on or off.
Silver Linings from the COVID-19 Cloud
People are paying close attention to their lifestyle choices including diet, sleep and movement. Brazil and Argentina have been two of the countries that have changed their diets the most, moving away from high meat consumption to now include more organic fruits and vegetables. People in Latin American countries who were unable to eat out were more able to reach their weight loss goals as they enjoyed more home cooking with healthy food.
Telehealth and telemedicine have increased as patients realize digital access to healthcare can be a viable option.
Things are changing gradually, at the Cleveland Clinic, all cancer patients are now referred for wellness therapies and new medical students are taught culinary techniques and healthy nutrition
Where you live and work is having a significant, measurable impact on your health. For companies, not focusing on the health of your building’s occupants is now considered a risk. Staff will not stay with companies that don’t provide health-promoting environments for them to work in.
The healthy buildings’ movement is taking off, and information is now being shared among consumers like never before. Air quality and CO2 concentration can now be measured by your customers via a handheld device and your brand must be ready to manage this.
Women’s Health Equity
Women’s health access is an economic issue we cannot afford to ignore. Women are under-represented in clinical research, despite often suffering more than men for the illness being researched. Increasing the research funding just slightly has massive returns to the economic wealth generated.
Menopause needs more attention. Women between 45 and 60 are now healthier, wealthier and more empowered than ever before. In 36 months there will be 1 billion women in menopause on the planet – they need help and information.
It’s easy to measure sleep, but how do you measure personal energy? We all have a genetically based sleep schedule that we cannot change, we have certain times of day that we are better prepared to do certain activities.
Your power profile is your chronotype plus your body type, and this can determine your energy levels, when and how long you should fast. Laughter, movement, an act of kindness, or music can energize you instantly.
Disrupting Senior Living
Purpose, wellness and community are what people need the most after 50. Senior living is currently in a state of complacency, the industry is not adapting to their customers and is somewhat clueless to the impending trends. The growing desire for intentional communities means that this trend is about to go mainstream.
Treatment Revolution: Psychedelics
With psilocybin gradually becoming decriminalized and legalized across the US and medical research showing transformational results with people experiencing depression and PTSD, Fantastic Fungi, the successful documentary illustrates the incredible power of mushrooms for medicinal and creative/recreational purposes. People who experience psilocybin experience a profound sense of love and connection and lose their fear of dying.
Anxiety, depression, and PTSD all show outstanding improvements with MDMA, the most gentle of all the psychedelics. The therapy is still the key, the drug makes the therapy more effective, just taking the drug does not have the same effect! “Psychedelics have been used for thousands of years, it’s no surprise that they work so well alongside therapy,” comments Rick. There will likely come a time when psychedelics will be available to be prescribed and also for self-care, healing, and preventative care.
Love is a business strategy that pays off, organizations must care for people, community and the planet. Chief wellbeing officers need to account for the wellbeing of all stakeholders, take a fresh look at operating silos, and impact business performance and company culture. Joy, hope, gratitude and positivity all have a ripple effect.
By Sara Jones, editor