Many individuals tend to confuse the terms "sickness" and "wellness". Wellness deals with the decision to remain, attracting a large number of health conscious individuals. The recent years have also started seeing more and more individuals opting for wellness therapies to remain healthy and fit for more years to come. Combined these factors have led to the rise of a lucrative business, the wellness revolution that is taking the world by storm today.More and more countries have started to invest in the wellness industry by tapping into existing resources or creating new ones. Spas are springing around everywhere, offering more than just the traditional body massage for guests. The newer spas are incorporating wellness therapies in their businesses by offering newer, more innovative services like wine spas, thermal baths, medical spas, etc.Wellness is not entirely a new concept in some countries like India, which has practiced Ayurveda and yoga for ages, and preached the same for a better life.
The concept of wellness also extends to proactive thinking wherein an individual takes up these practices to prevent illnesses in the long run. Investment in wellness is mainly directed to make one look younger and stay stronger for more years. As such, procedures like hair growth, elective plastic surgery, cosmetic dentistry, diet systems, fitness clubs, natural health products and skin care all contribute to the industry.The different sectors of the wellness industry can be classified into a few major categories. These include allopathy, beauty, nutrition, fitness and slimming, rejuvenation, counselling and alternative therapies. Another classification groups these categories into either wellness services or wellness products.The wellness industry has seen a growth in the past few years and is seeing a current growth rate of 35%.
The combination of wellness services and products offer plenty of opportunities for international players who are making a foray into the market of late. Even companies with sectors dealing with wellness programs have forayed into the wellness space eagerly.The government of a country intending to enter the wellness industry would need to take certain measures to promote the development of the industry within the nation, including regulating providers and enforcing regulator frameworks to facilitate calculated growth. Factors like customer safety, technology, infrastructure, trained work force and processes need to be considered very carefully.Governments would also need to set down stringent guidelines and regulations for interested service providers, asking them to get their services accredited by an international body for acceptance. Another mechanism for monitoring all these developments would also need to be deployed by the government of a nation willing to enter the wellness industry.
