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The spa market research company Intelligent Spas has released a survey on the industry in South Africa, showing how it has been affected by the global recession and its curret positions within the global spa industry.
Intelligent Spas' second Spa Benchmark Report on the South African spa market presents an extensive collection of financial statistics, including breakdowns of key performance indicators by day spas, hotel spas and resort spas. The new research found more than 200 spas are operating in South Africa and generated revenue of ZAR380 million (approximately $47 million) in 2008, representing a 2% decrease compared to 2007.
Other key findings include:
"The South African spa market is performing relatively well despite the global economic conditions, and spa owners and managers have a positive outlook. This updated research identifies key differences in the performance of day spas, hotel spas and resort spas which are critical for each type of operator to understand" stated Julie Garrow, managing director of the independent research company Intelligent Spas.
Dr. Nadine de Freitas, executive eirector of the South African Spa Association, added, "The release of the South African Spa Benchmark Report is a fundamental step in the growth and maturity of the South African spa industry, allowing an accurate understanding of the industry statistics, financial indicators, industry weaknesses and strengths, to facilitate efficient spa operations and maximise profit potential and industry opportunities. The South African Spa Association thanks Julie Garrow and Intelligent Spas for their commitment to 100% independent spa research, so allowing all investors and spa operators access to crucial spa intelligence, to indentify key success factors and ensure a successful and competitive spa, in today's ever-changing market."