Health, wellness industry exploring niche markets

 “With our healing hands and caring nature, the Philippines is made for beauty, health and wellness. It is the industry where we can benefit,” said SPA Association of the Philippines President Marjorie Lopingco.

During the third session of the Mandaue Business Month’s “Business Forum” held at the CICC last Thursday entitled as the “Innovative Entrepreneurship Approaches,” potentials of sunrise industries like the medical wellness and tourism were discussed underscoring the advantages of the Philippines towards succeeding in the turf of beauty, health and wellness due to having beautiful places, abundant natural resources and caring people.

The world’s biggest spa association, ISPA research suggests that Spa goers are becoming savvier and they are demanding long lasting results.

In US statistics, Lopingco reported that the Spa Industry registers 155.8 million visits every year with a steady triple figure annual growth seen within the next ten years. Spas there are annually a 13 Billion –dollar –industry.

The heath and wellness industry was actually predicted to be the next trillion dollar industry by economist Paul Zane Pilzer in his book the “Wellness Revolution.” This prediction underscores the existing trend that spas and wellness centers have become a lifestyle and an entitlement these days as felt by the baby boomers’ generation (ages 44-61) who are among spa goers biggest market segment.

According to Lopingco’s presentation, spas proliferate and the industry is exploding globally and literally the demand has overtaken the supply. Along with this shift of economical value, the health and wellness industry Lopingco deemed that  the Philippines will greatly benefit from the industry since the country have all the resources of other countries that are known for their high-touched and low-tech wellness industry.

These resources according to Lopingco include: moor muds, healing waters, hot springs, plants, oils and essences, culture, seaweeds and tourist spots and according to her, all these resources could be found in the country so we already have a huge advantage.

From the June 2002 issue of the National Geographic, it was reported that the Philippines is Earth’s richest reservoir of plants and animal life.

In the Philippines, we have 13,500 species of plants found in our virgin forests which represent 5% of the world’s flora. More than 100 species of wild plants endemic to the Philippines are known to have therapeutic values and herbalists are important figures in the community since ancient times. We also are abundant source of local oils and essences like virgin coconut oil (VCO), lemon grass, ylang-ylang, and sampaguita or jasmine.

With all these factors, Lopingco believes that the country has great chances to take the lead in the future’s multi-million dollar industry only if we invest and develop more investments in the industry. According to her, there is a great demand and to tap the market, we should explore all its avenues.

Spa and Wellness Association of Cebu (SWAC) president Johnie Lim said in an interview that in Cebu, the industry is booming and with that, the proliferation of spas has become difficult to regulate.  – Rhia de Pablo