UK: A Barclays survey reveals that the annual revenue of hospitality and leisure firms could rise to £21.1 billion following investment in wellness offerings.
Post-Covid research reveals that investing in wellness could lead to a nine per cent increase in the annual revenue of hospitality businesses if interest in healthier lifestyles is sustained beyond 2020. Businesses include accommodation, food and drink, arts and entertainment, and sports and recreation centres.
Respondents stated they would pay a premium of six per cent per person on average for a healthier option on the menu in pubs and restaurants, with nearly a third of UK adults believing that health and wellness offerings should be included as a standard by leisure sector establishments.
Looking at the trip itself, respondents said they are willing to pay 6.3 per cent more for a healthier short break and 6.5 per cent more for health club options or a specific resort or holiday experience.
Overall, 40 per cent said they had selected a certain restaurant because it provided healthier options, 35 per cent for pub or cafe trips, and 28 per cent for holiday or leisure trips.
The accommodation segment could gain an additional industry revenue of nearly £4.5 billion per annum by 2023 through investment in wellness offerings. The most frequent responses about the reasons for current and planned investment were customers returning (46 per cent), happier customers (45 per cent), and profitability (40 per cent).
When questioned about the main priorities whilst on holiday for consumers post-Covid, 54 per cent said it will be resting, relaxing and recharging, 42 per cent spending time with their loved ones, and 33 per cent experiencing the natural world.
Consumers that rank wellness as very important has generally jumped to 69 per cent, whereas the top rank of extremely important has also increased by 10 per cent.
As a result, 59 per cent of respondents say they have made, or intend to make, long-term health and wellness changes.
Click here to see Barclay’s full report on The Wellness Imperative.