Health Update: Bangkok Post – Wellness industry pays dividends – What Experts Say

Growth spike surges to B120bn a year

Health and wellness are increasingly viewed as a new form of luxury, driving lifestyle changes and fuelling rapid growth across global well-being industries this year.

In an interview with the Bangkok Post, Dr Tanupol Virunhagarun, chief executive of BDMS Wellness Clinic and BDMS Wellness Resort, said the wellness trend will continue expanding over the next five years worldwide.

Thailand has recorded the fastest growth rate at 28.4% annually, far above the global average of 7.6%, generating more than 120 billion baht a year. The country remains among the world’s top wellness destinations, ranking 15th last year, though down from seventh in 2019.

“We have seen stronger competition in the business, including in our region, where Singapore, Malaysia and Indonesia are working hard to build their own brands to lure more clients,” Dr Tanupol said.

“But Thailand has still gained stronger points for hospitality and service, cultural diversity and the blend between medical wisdom and innovation. But it should go beyond that. Most Thais should get some benefit from the country’s global hub of wellness.”

He stressed the economic value of prevention, saying “one baht for health investment would generate 35 baht in return”. Such returns, he said, should guide government policy towards strengthening preventive healthcare and reducing non-communicable diseases.

Thailand’s average healthspan is 67.3 years, and many people spend their final decade managing costly chronic illnesses including heart disease, diabetes and cancer.

Dr Tanupol urged stronger state investment in prevention, including supportive environments for exercise, taxes on salty, fatty and sugary foods, improved food safety and cleaner air.

“That is the minimum investment that the government should carry out,” he said. “We want to rebrand the country as ‘Wellness Thailand — the Land of Life’, which can’t happen if a majority of people can’t achieve good health.”

He said the idea that “health and wellness is the new luxury” is reshaping consumer behaviour, with healthy-food categories — such as gut-health products, brain-boosting foods, fibre-rich diets, wholesome meals and sustainable, ethical eating — forecast to grow globally by 7.1% annually between 2024 and 2029.

Mental and sleep wellness are also set for strong expansion, predicted to rise 10.1% a year. This will drive the “sleep economy”, with products such as aromatherapy, mindfulness tools and sound-healing therapies in rising demand.

Thailand also has strong potential in meditation-based services, he said.