Thermal Springs Tourism Market Size, Share and Trends 2024 to 2034

Thermal Springs Tourism Market Size and Forecast 2024 to 2034

The global thermal springs tourism market size accounted for USD 57.78 billion in 2024 and is projected to surpass around USD 230.11 billion by 2034, growing at a CAGR of 14.82% from 2024 to 2034. Rising consumer awareness of health benefits is the key factor driving the market's growth. Also, improved accessibility and infrastructure developments in many regions can fuel the thermal springs tourism market growth further.

Thermal Springs Tourism Market Key Takeaways

• Asia Pacific dominated the thermal springs tourism market with the largest market share of 47% in 2023.
• North America is expected to grow at the fastest CAGR of 13.11% over the forecast period.
• The U.S. is registering a notable CAGR of 14.8% during the forecast period.
• By service type, the recreational services segment contributed the highest market share of 41% in 2023.
• By service type, the luxury and spa services segment is expected to expand at the fastest CAGR of 16.11% over the forecast period.
• By traveler type, the domestic segment accounted for the highest market share of 64% in 2023.
• By traveler type, the international segment is anticipated to grow at a solid CAGR of 15.82% during the projected period.

Asia Pacific Thermal Springs Tourism Market Size and Growth 2024 to 2034

The Asia Pacific thermal springs tourism market size is exhibited at USD 27.16 billion in 2024 and is anticipated to be worth around USD 109.30 billion by 2034, growing at a CAGR of 14.93% from 2024 to 2034.

Asia Pacific dominated the thermal springs tourism market in 2023. The dominance of the region can be attributed to the long-standing cultural importance of hot springs in nations such as Japan and China. Furthermore, the growth of infrastructure in other countries, such as the South Korean spa tourism market and China's investment in resorts, is helping the market to expand in the region. Governments across the Asia Pacific are facilitating wellness tourism to grow their infrastructure.

• In August 2023, Aman Resorts launched its new wellness initiative, introducing a series of immersive retreats to its properties across the globe. These retreats emphasize mental well-being, featuring expert-led workshops on mindfulness, yoga, and nutrition.

North America is expected to grow significantly in the thermal springs tourism market over the studied period. The growth of the region can be linked to the region's focus on sustainable travel and eco-tourism, as consumers are seeking unique experiences that optimize environmental stewardship along with health benefits. Moreover, The U.S. is experiencing high growth in the market because of the region's rising emphasis on alternative health practices and overall wellness.

• In October 2023, Canyon Ranch partnered with health technology companies to combine personalized health assessments into their wellness programs.

Market Overview

Thermal springs tourism is a vacation where people travel to mineral springs or thermal springs for their wellness and health benefits. Thermal springs have healing properties that can help maintain the mental and physical well-being of the individual. It involves activities such as thermo mineral water baths, mud baths, physical therapy, psychotherapy, and other exercises. People may be compelled to visit thermal springs for different reasons like aesthetic, environmental, and social well-being.

World Tourism Rankings by Country in terms of Total Arrivals (2023)

Thermal Springs Tourism Market Growth Factors

• The rising integration of wellness facilities within current tourism ecosystems is expected to boost thermal springs tourism market growth shortly.
• Sustainability is becoming a crucial factor in the thermal springs tourism market, and it can propel market growth soon.
• The rise of digital marketing and social media can substantially impact the growth of the market throughout the forecast period.

How is AI Changing the Thermal Springs Tourism Market?

Artificial intelligence in tourism refers to the utilization of AI innovation to enhance different aspects of the thermal springs tourism market, such as travel planning, customer service, and marketing. It can process large amounts of data to offer customized recommendations, schedule daily tasks, and enhance decision-making processes. Furthermore, AI assistants can help customers book a hotel of their choice and add dates to their calendars.

• In October 2024, the Pacific Asia Travel Association (PATA), in partnership with the Sarawak Tourism Board, will unveil a new training program for tourism businesses in Sarawak, Malaysia. This time, the program will emphasize technology and artificial intelligence.
• In June 2024, Amadeus declared a partnership with Microsoft to launch an AI-powered chatbot designed to transform the way hoteliers access and interpret business intelligence data. The new chatbot, named Amadeus Advisor, is combined into the Agency360+ suite and leverages Azure OpenAI Service to offer quick, natural language responses to complex data queries.

Market Scope

Market Dynamics

Driver

Rise in interest in water-based experiences

Consumers in the thermal springs tourism market are more interested in witnessing cultural traditions, connecting with nature, and using saunas and cold plunges. These experiences also have health benefits that can support and conserve the environment and biodiversity. Additionally, Water-based experiences can help enhance the quality of life for local communities and tourists. These experiences are appealing to various groups, including friends, families, and young people. Some of the popular water-based activities are Jet skiing, Hydroflighting, Kayaking, and Surfing.

• In October 2024, Boatsetter, the top marketplace for on-the-water activities, announced the launch of its Explorer Collection, the next chapter in its curated series of water-based experiences. Building on the success of the Summer Collection, the Explorer Collection was created to inspire guests to explore a different side of the waterways as the temperatures cool.
• In September 2024, Chief Minister Thakur Sukhvinder Singh Sukhu said that the State Government is facilitating water sports activities in a big way. This initiative aims to fuel tourism and use the water bodies to position Himachal Pradesh as a premier place for water-based recreational activities, attracting both domestic and international tourists.

Restraint

Challenges regarding customer satisfaction

Customer satisfaction is an important factor in the competitiveness of the thermal springs tourism market. Some factors that can affect customer satisfaction are service quality, convenience, environment quality, and special resources. Moreover, this business needs individuals with an extensive range of skills, such as food and beverage service and basic bath and guest room services. All these services offered require proper employee training, which can be challenging sometimes.

Opportunity

The expansion of the sauna and spa facilities

Tourists and travelers are increasingly seeking wellness and relaxation experiences because they find these amenities more appealing, leading to opportunities in the thermal springs tourism market. The growth in international travel has optimized the global tourism industry, leading to an increase in customer demand for this facility. Furthermore, many resorts, hotels, and other hospitality infrastructures are incorporating sauna and spa facilities into their providing as a plan to drain and retain a pool of customers.

• In May 2024, Klafs launched the Taras outdoor sauna to provide a blend of performance and style. With 23 different floor plan variants, from glass fronts and panoramic and side windows to glazed wood paneling or metallic surfaces, owners can personalize their Taras sauna to match the aesthetic of their outdoor space.
• In October 2024, Sofitel Dubai the Obelisk introduced a new wellness offer called Detokksu, blending a luxurious spa treatment with a meal at their contemporary Japanese restaurant. The new Detokksu package is created to help visitors and locals alike relax their way through busy reasons with this chance to soothe their body, mind, and soul.

Service Type Insights

The recreational services segment dominated the global thermal springs tourism market in 2023. The dominance of the segment can be attributed to the rising demand for these services due to a convergence of factors such as increased consumer emphasis on health and wellness. In addition, thermal spring venues also provide numerous therapeutic benefits, including enhanced physical health and relief from stress. As consumers seek out enriching and unique experiences, thermal springs have emerged as an attractive option, offering various recreational activities to visitors.

• In August 2024, Bernalillo County launched a Mobile Rec Unit to provide kids with safe recreational activities. The Mobile Rec Unit travels across the city, particularly in southeast Albuquerque, and provides kids with games to play. It's for those who may not have access to a community center because of the waitlist or their parent's inability to pay.

The luxury & spa services segment is expected to grow at the fastest rate in the thermal springs tourism market over the forecast period. The growth of the segment can be credited to the strong shift in customers' preferences toward wellness and holistic health, facilitating visitors to seek out high-quality spa services that improve their mental and physical health. Moreover, the emergence of wellness tourism, along with the increasing awareness of the advantages related to thermal mineral waters, is making a positive impact on segment growth.

• In September 2024, Etihad Airways collaborated with Be Relax to offer round-the-clock massages within the Etihad Lounge at Zayed International Airport. A new partnership between Etihad Airways and airport spa brand Be Relax launched a unique wellness experience for passengers transiting through Abu Dhabis Zayed International Airport (AUH).
•  In June 2024, hospitality chain OYO introduces Palette Royal Reflections Hotel and Spa, its first luxury hotel in Dubai. The company unveiled the luxury hotel as it expects a significant growth in the number of Indian tourists visiting Dubai due to the relaxed visa policy, anticipating over 1 lakh Indian tourists to visit this year.

Traveler Type Insights

The domestic segment led the global thermal springs tourism market. The dominance of the segment can be linked to the rising importance of health-oriented getaways and accessibility. Also, consumers are spending more time on leisure activities and seeking unique experiences. Governments can fuel domestic tourism through plans, policies, and marketing efforts, driving the flow towards more localized traveling destinations.

• In October 2024, Thailand introduced a bold initiative to increase domestic tourism through elevating subsidies and enriching local experiences for travelers. The Thai government is actively deploying strategies to encourage its citizens to discover the beauty and diversity of their own country.

The international segment is anticipated to show the fastest growth in the thermal springs tourism market during the projected period. The growth of the segment can be driven by an increasing number of consumers who want to connect with nature, witness cultural traditions, and experience alternative curing methods. Furthermore, governments in many countries with well-established thermal bathing traditions are investing heavily in the sector to optimize it as a wellness tourism providing, this involves upgrading service standards and reopening facilities.

Thermal Springs Tourism Market Companies

• Terme Di Saturnia
• Grand Resort Bad Ragaz
• Gellért Thermal Bath
• Ooedo Onsen Monogatari Hotels & Resorts Co., Ltd.
• Baden-Baden Kur & Tourismus GmbH
• Blue Lagoon
• Caldea
• Vichy Thermalia
• Puyehue Hot Springs Hotel
• Spa Thermal Park of Montecatini Terme

Recent Developments

• In April 2024, Glenwood Hot Springs Resort declared an expansion of its esteemed legacy with the upcoming launch of the Yampah Mineral Baths, set to open in late May.
• In October 2023, Murrieta Hot Springs Resort unveiled its plans to reopen, featuring over 50 geothermal pools situated between San Diego and Los Angeles.

Segments Covered in the Report

By Service Type

• Recreational
• Therapeutic and Wellness
• Luxury and Spa Services
• Others (Adventure/Outdoor Activities, Etc.)  

By Traveler Type 

• Domestic
• International

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa