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The International SPA Association just released its comprehensive and respected ISPA 2010 U.S. Spa Industry Study. “This study is extremely valuable for ISPA members, media and investors, and the association is very proud to deliver research of such high quality,” said ISPA President Lynne McNees. “We are also encouraged to see that the industry remains viable, despite the economic concerns of the past two years."
Produced in cooperation with PricewaterhouseCoopers (PwC), the study covers six categories of economic indicators within the spa industry.
Spas, like every other industry, were impacted by the worst economic downturn since the 1930s. However, even with the decline, the “big five*” indicators remain at their second-highest level since ISPA’s first study in 2000. Spas managed the recession by reshaping their workforces and creatively identifying new ways to remain competitive.
"These numbers illustrate that the Great Recession has left virtually no industry untouched," said PwC global research director Colin McIlheney. "After many years of very rapid growth, all five of the key measurement statistics for the spa industry show a decline after 2008. However, many in the industry who took part in the ISPA survey report that they have been proactive in taking measures to combat the impact of the recession. Respondents are indeed cautiously optimistic about the future while also recognizing there are still challenges to face."
Composition of spa types remained similar to previous years. Day spas comprise an overwhelming majority of establishments (79%); resort/hotel spas comprise the second largest segment (8.8%), with medical spas a close third (8.7%). Other spa types include club, mineral springs and destination spas. The largest concentration of spas are in the Northeast (24%) and Southwest (23%).