GLOBAL SLEEP TOURISM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Size and Trends

The global sleep tourism market is estimated to be valued at USD 70.13 Bn in 2024 and is expected to reach USD 118.64 Bn by 2031, growing at a compound annual growth rate (CAGR) of 7.8% from 2024 to 2031.

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Sleep tourism has emerged as a rapidly growing trend in the global travel industry. With rising work pressure and hectic lifestyles, people are choosing customized sleepcations at exotic locations that offer relaxing therapies and wellness programs centered around better sleep. Destinations capitalizing on this opportunity are witnessing exponential growth in bookings, with enhanced sleep offerings and packages that bundle meals, recreational activities and accommodation focused on rejuvenation. Concerns around reduced sleep quality due to environmental factors and urbanization have further catalyzed the demand for changings settings focused on deep sleep and rest. As more travel brands recognize consumer preference for well-being infused holidays and breaks, the sleep tourism market is now a mainstream wellness niche experiencing strong growth worldwide.

Rising demand for specialized sleep therapy services and treatments

One of the major drivers for the growth of sleep tourism market is the rising demand for specialized sleep therapy services and treatments. In today's fast paced world, stress of daily life and work lifestyle have severely impacted sleeping patterns of many individuals. Problems like insomnia, sleep apnea, restless legs syndrome, etc. are becoming extremely common. While common sedatives and prescription drugs provide temporary relief, they often have side effects and do not treat the underlying issues. Many remote destinations across the world are now leveraging their natural resources and ambience to develop specialized sleep therapy programs. Places with pristine environment, clean air, peaceful settings, alternative healing traditions, etc. are able to address root causes of sleeping disorders through holistic and integrated treatments. Some examples include sound sleep retreats located near serene beaches in Thailand, sunrise, and sunset focused sleep resorts in Bali utilizing local spices and herbs, forest spa programs in Nordic countries proposed to reduce stress through forest bathing. These destinations work with sleep experts and provide customized regimens combining alternative techniques like acupuncture, aromatherapy, yoga, and meditation with traditional talk therapy sessions. Multiple factors from climate, environmental sounds to local diets are focused on the promotion of melatonin and serotonin hormones. Guests undergo a digital detox for complete disconnect from daily distractions as part of therapies. Success stories of those benefiting from these therapies are driving more people to consider sleep tourism as a wellness vacation focused on sleep rejuvenation and restoration of circadian rhythms.

Market Concentration and Competitive Landscape

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Another big driver for growth in sleep tourism is the emerging popularity of medical wellness trips centered around sleep-related issues and disorders. While sedatives provide short term relief for insomnia, many are now looking for sustainable solutions through therapies and lifestyle changes recommended by sleep medicine experts. Destinations with advanced meditation and wellness infrastructure coupled with accessibility to quality healthcare professionals are much sought after. Few examples are clinics in islands of Greece and Croatia that offer neurotherapy programs for conditions like parasomnia, nightmares under guidance of sleep neurologists. Resorts in Latin America have on-site sleep labs for conducting polysomnography, CPAP and BiPAP titration studies as part of treatment for obstructive sleep apnea.

Key Takeaways of Analyst:

The global sleep tourism market has strong growth potential over the next decade. Several factors are driving more people to travel internationally for better quality of sleep. Rising stress levels and busy lifestyles in urban areas have led to poor sleep habits among consumers. Sleep tourism offers an opportunity for people to reset their body clocks and destress in serene locations.

An aging population profile also supports the market growth. Retired individuals are increasingly opting for sleep tourism packages that combine rest and relaxation.

High travel costs remain a challenge, especially in the backdrop of an economic slowdown due to the pandemic. Luxury sleep packages and remote destinations make the market accessible only to a certain income segment currently. Lack of standardization and regulations also pose difficulties in ensuring quality across the industry. Nevertheless, growing health awareness and internet penetration are helping the market reach new customers. The pandemic has also boosted interest in restorative travel choices like sleep tourism.

Market Challenges: High costs associated with sleep tourism trips

One of the major factors holding back the growth of the global sleep tourism industry is the high costs associated with such specialized trips. Sleep tourism experiences are quite luxurious in nature, allowing tourists to relax and rejuvenate in high-end wellness resorts or participate in activities geared towards improving sleep quality. However, the premium pricing of accommodations, therapies, and packages makes these trips expensive undertakings. According to data from the UNWTO, international tourism expenditures decreased by an estimated USD 800-850 billion in 2020 due to the COVID-19 pandemic. This significant loss of discretionary spending power has made consumers more cost-conscious about any non-essential trips, including those focused on better sleep.

 Market Opportunities: Emerging destinations can develop sleep tourism industry

Emerging destinations have a huge opportunity to develop their sleep tourism industry and capitalize on the global growth of the sector. With more people seeking wellness and relaxation getaways that focus on quality sleep, lesser-known locations can carve a niche for themselves. Some strategies they could adopt include promoting local wellness practices, developing boutique sleep retreats, and partnering with experts for sleep education programs. Destinations like Nepal, Bhutan, and Iceland that are already popular for their natural beauty and wellness offerings can augment their programs with specialized sleep therapies. Guesthouses in rural settings of these countries could work with sleep doctors to create therapies using local herbs, meditation, etc. This will attract a new breed of experience-seeking tourists looking to reset their body clocks. Similarly, countries in Africa and Latin America with undiscovered forest areas and beaches could launch small yet high-end resorts catering exclusively to sleep and relaxation. Working with global sleep consultants, they can create sleep enhancement packages involving siestas, physical activities, and comforting ambience tailored to each region's strengths.

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In terms of accommodation type, luxury hotels is expected to contribute 31.2% share of the market in 2024, owing to travelers' increasing demand for premium amenities and personalized services. Luxury hotels offer spacious rooms with high-end furnishings, bespoke memory foam mattresses, premium bath products, 24-hour room service, and concierge assistance. They feature lavish facilities like spa centers, salon services, outdoor pools, gyms equipped with state-of-the-art machines, yoga studios, and fine-dining restaurants. The global rise of high-net-worth individuals and affluent millennial influences travelers to indulge in ultimate relaxation and rejuvenation through luxury escapes. Hotels such as Four Seasons, The Taj, Aman Resorts, and Dorchester Collection have established iconic brands worldwide by curating an exceptional experience through attention to detail, intricate room designs, signature wellness menus, and excellent staff. The growing focus on work-life balance and stress management drives people to opt for therapeutic vacations at boutique luxury hotels supplying tranquil environments and personalized sleep therapies.

Insights by Activity/Experience: The Power of Alternative Healing

In terms of activity/experience, sleep therapies is expected to contribute 38.9% share of the market in 2024, as people increasingly seek natural solutions for health issues. Sleep therapies involve techniques like meditation, aromatherapy, sound healing, acupuncture, massage, counselling, and nutrition plans customized by experts to address insomnia, stress, anxiety, and depression. Therapeutic spa resorts use traditional and modern sleep induction methods as part of holistic wellness programs integrating physical, emotional and spiritual healing. For instance, some institutions have incorporated yoga nidra, breathing practices, floatation therapies, and cognitive behavioral techniques to treat chronic conditions and boost immunity. This is due to rising disillusionment with unsustainable side-effects of allopathic drugs and growing acceptance of alternative medicine. Experiential retreats offering immersive sleep therapy courses gain popularity as they help cultivate improved sleep habits, reduced reliance on medications and enhanced quality of life in a natural way.

Insights by Purpose of Visit: The Search for Resilience

In terms of purpose of visit, medical/therapeutic is expected to contribute 40.2% share of the market in 2024, owing to escalating mental health issues post pandemic. There is a definitive upsurge in stress-induced insomnia, anxiety attacks, and burnout syndrome largely due to uncertainties around employment, economic turmoil, and social isolation during the global crisis. This has prompted many to opt for therapeutic travel seeking professional sleep counseling and natural remedies to boost psychological resilience. Specialized sleep institutions offer assessment-based programs combining cognitive behavior modification, daily routines guided by chronobiology, stress inoculation, nutrition advice, exercise, and supportive sleep aids to address dysregulated circadian cycles and reap physical/mental restoration. Multi-disciplinary treatment models addressing root causes of insomnia through a holistic lens have shown sustainable success. This drives preferment of professionally-managed long-stay programs over occasional leisure vacations for sound slumber and optimal mental wellness in the new normal.

Regional Insights

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North America has emerged as the dominant region in the global sleep tourism market. The region is expected to account for 34.8% of the market share in 2024. The U.S. and Canada have a well-established medical infrastructure and healthcare facilities that cater to medical tourists travelling for various therapies. There is a large presence of international clinics and hospitals that offer specialized sleep treatment programs. These include advanced therapies like oral appliance treatments and others. The pricing of such therapies is at par with international standards and medical insurance plans provide good coverage for sleep disorder treatments sought abroad. Brands like Sleep Country and Mattress Firm have deep retail networks to promote sleep-related products and services. Consumer awareness about restful sleep and its health benefits is also high. All these factors have contributed to North America gaining the leading market share.

A noteworthy region experiencing fast growth is Asia Pacific. Countries like Thailand, Malaysia, and Indonesia have witnessed a spike in 'sleep travelers' coming for integrated wellness and medical programs incorporating sleep therapies and traditional treatments. Bangkok is a key hub that attracts foreigners seeking alternative sleep remedies coupled with options like spa and massage. Hospital chains such as Bumrungrad and Samitivej have rolled out packaged wellness offerings combining Western diagnostics with Eastern medicines. This is attracting Asia Pacific-based customers as well. The hotel infrastructure in major cities has upgraded to provide soundproof rooms and optimized sleep environments. Governments are actively promoting medical tourism through streamlined visas and modern medical facilities. This has given an impetus to the sleep tourism ecosystem being built across Southeast Asian nations. The growth momentum in the region is expected to continue on back of rising incomes, affordable costs, and integrated wellness models.

Market Report Scope

Key Developments

• In March 2024, Hilton, a global hospitality leader, announced the introduction of new sleep retreats across select properties worldwide, coinciding with National Sleep Month. This initiative aims to promote the importance of quality sleep and provide guests with a unique opportunity to rejuvenate and refresh their minds and bodies.
• In March 2024, Omran Group, Oman's leading tourism development company, and Santani Wellness Resorts, a renowned wellness resort brand based in Sri Lanka, announced a strategic partnership at the Internationale Tourismus-Börse (ITB) Berlin 2024, one of the world's largest travel trade shows. This collaboration aims to bring Santani's expertise in wellness hospitality to Oman, creating a unique and transformative wellness destination in the region.
• In 2022, VLCC Group, a leading wellness and beauty company, and Minor International, a global hospitality and lifestyle brand, announced a strategic collaboration to offer unique wellness experiences to travelers in Hua Hin, Thailand. This partnership aims to combine the expertise of both companies to create a holistic wellness destination, catering to the growing demand for health and wellness tourism.
• In 2022, Ananda in The Himalayas, a renowned luxury wellness retreat located in the tranquil foothills of the Himalayas, successfully concluded a comprehensive three-year renovation project. This extensive renovation aimed to enhance the guest experience, rejuvenate the property's facilities, and uphold its reputation as a premier destination for wellness and relaxation.

Definition: The global sleep tourism market refers to the growing travel industry centered around destinations marketed for their relaxing and rejuvenating experiences that promote better sleep. Key locations in this expanding niche market capitalize on offerings like dark room sleep therapy, relaxation classes, professionally led bedtime routines, and overnight packages at high-end spa resorts designed specifically for improving sleep quality and overall well-being through dedicated rest and recovery programs.

Market Segmentation

• Accommodation Type Insights (Revenue, USD Bn, 2019 - 2031)
  • Luxury Hotels
  • Boutique Hotels
  • Resorts
  • Homestays/Villas
  • Others
•  Activity/Experience Insights (Revenue, USD Bn, 2019 - 2031)
  • Wellness
  • Meditation
  • Holistic
  • Sleep Therapies
  • Others
•  Purpose of Visit Insights (Revenue, USD Bn, 2019 - 2031)
  • Medical/Therapeutic
  • Leisure
  • Educational
  • Others
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC Countries
    • Israel
    • Rest of Middle East & Africa
• Key Players Insights
  • Welgrow Travels
  • Carnoustie Ayurveda and Wellness Resort
  • Niraamaya Wellness Retreat
  • Atmantan Wellness Center
  • Mekosha Ayurvedic Retreat
  • Ananda in Himalayas
  • Vana Retreat
  • Somatheeram Ayurvedic Health Resort
  • Kairali Ayurvedic Healing Village
  • Nirvana Naturopathy and Retreat
  • Soukya Holistic Health Center
  • Pureandcure 
  • The Hotel Figueroa
  • Wellbeing Escapes
  • The Healthy Holiday Company
  • Black Tomato
  • &Beyond
  • Six Senses Hotels Resorts SpasCh
  • Vacayou
  • The Park Hotels