From 2013-2015 The Global Wellness Sector, as a whole industry, recorded a 10.6% growth equating to a $3.72 trillion international industry. To put this into context – during this same timeframe the global economy shrank by -3.6% resulting in a growth gap of nearly 15%. Based on these findings it is evident that wellness is currently one of the most resilient and fastest-growing industries in the world representing 5.1% of global economic output.
The above figures were based on a collective ten wellness markets. Wellness Tourism was the 4th fastest growing with a 14% growth rate which is more than twice the international tourism expenditures at 6.9%.
“Recent years have been marked by global economic contraction and disruptive geopolitical events, but a ‘wellness economy’ just keeps rising, with an upward trajectory that seems unstoppable,” said Ophelia Yeung, Senior Research Fellow, GWI. “And we predict that consumers, governments and employers will continue to spend big on wellness because of these megatrends: an emerging global middle class, a rapidly aging world population, a chronic disease and stress epidemic, the failure of the ‘sick-care’ medical model (resulting in uncontrollable healthcare costs), and a growing subset of (more affluent, educated) consumers seeking experiences rooted in meaning, purpose, authenticity and nature.”
In 2015 an estimated 691 million travellers booked wellness trips, 104.4 million more than 2013.
Wellness tourism now accounts for 15.6% of total global tourism revenues. In turn, this results in nearly 1 in 6 of total “travel dollars” spent.
With such an accelerated growth rate in the wellness tourism is it any wonder that boot camps, retreats, yoga holidays, bespoke healthy holidays are becoming ever popular.
Which Healthy Holidays are Package Travel Regulated?
Which of these healthy holiday companies do not need to comply with Package Travel Regulations?
- Cycling Holidays UK
- Cycling Holiday Abroad
- Yoga Holidays UK or Abroad
- Residential Boot Camps UK or Abroad
- Surfing Holidays anywhere in the world
- Hiking Holidays
- Swimming Holidays in Wales
- Fitness Spa Weekend Breaks in the UK
So, which one of these do you think does NOT need to comply with Package Travel Regulations?
All of the above examples will be Package Travel Regulated. Sorry, this was a trick but it is incredibly important for all tour operators to understand how widespread the requirement for Package Travel Regulation compliance truly is.
Any holiday including overnight accommodation and any other one element such as food, training, airport transfer, activities and such like, will absolutely be a package. The definition of a package is very clear. It is inconsequential whether the tour operator is offering holidays within the UK or Internationally – Package Travel Regulations must be adhered to. It is key for any tour operator to understand that consumer protection is the key in travel.
Considering the vast growth in new start-ups in the wellness industry, healthy holidays, yoga holidays and fitness holidays it is remarkable how many companies are trading outside of Package Travel Regulations. In the UK it is a legal requirement to ensure your clients’ money is secure in accordance with Package Travel Regulations . Furthermore, clients should absolutely ensure that their monies are secure and should only book with a company that is fully protecting their monies.
As of July 1st, The New Package Travel Directive will be implemented and as such Package Travel Regulations will become more stringent.
One of the most important things for any tour operator to be very clear about is that it is inconsequential whether you host your trips in the UK or Internationally. A package is applicable to any jurisdiction. The size of your tour operator, healthy holiday company, is also of nil importance. Whether you welcome twenty clients a year or twenty thousand, your company will still be package travel regulated.
At PTS, we appreciate that all the legal jargon and legalities may seem a little daunting and in some cases, quite scary – especially for startups. This shouldn’t be the case. Package Travel Regulations are there to ensure consumer protection in travel but in many instances, the processes PTS put into place for full compliance also protect the tour operator.
The trust account solution for a travel business offers a simple and cost-effective package travel regulations service. Don’t let Package Travel Regulations put you off starting as a tour operator and following your dream.
If you’d like to discuss this further, please get in contact with one of Protected Trust Services’ (PTS) lovely staff members by calling 0207 190 9988. Or, you can visit our member support and travel trust account pages to learn more about how we protect you.