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Is the Economic Expansion Causing Spa Struggles?

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Economy growth is typically seen as good, but it may not be as much of a blessing as it seems for some fields in wellness. The Global Wellness Institute's (GWI) Monthly Barometer discussed how this economic burst expands disposable income and demand, which supports the fast-rising wellness industry.

However, "Most non-tech wellness companies (spas, high-end resorts and hotels) have high labor costs to total costs ratio, meaning that labor costs will rise..." explained the GWI.

The hospitality and leisure industries, which have a large wellness component to them, posted a 3.6% increase in wage growth. The GWI believes that the hotel industry, and more specifically hotel spas, will be impacted the most with its operating expenses making up 50%, 75% for hotel spas, of the total operating expenses.

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