The Great Indian Tourism story isn’t exciting in 2009. The economic slowdown, the terror attacks have hit the tourism industry big time and that’s a reason why Incredible!ndia www.incredibleindia.org, as part of its new initiative has announced special tie-ups and packages with wellness centres.Interestingly, the Indian tourism ministry is in the process of finalizing a scheme wherein a tourist visiting India for medical treatments will be offered additional treatments free of cost. Of course, the logistics will still need to be worked out but the tourism ministry is set to offer a healing touch. How? For instance, a person coming for a bypass surgery from abroad will be offered a complementary skin treatment package or an Ayurvedic therapy, for that matter. Since November 2008 (immediately after the terror attacks in Mumbai) the tourism — particularly the hospitality — sector is grappling with negative numbers of tourists. No wonder, the sector is now banking on medical tourism while also offering valuable add-ons. While the ministry is already in advance discussions with major hospitals like Apollo, Moolchand, Fortis and Wockhardt to offer patients complementary treatments, a clearer picture should come out soon. “Roping spa centre operators into the scheme for tourism India is a very conscious decision,” confirms a spokesperson.
That wellness is high on the radar of Indian tourism is evident from the success that the Indian wellness services market has witnessed. According to the latest study by FICCI and Ernst & Young, the wellness industry — currently estimated at Rs 110 billion — will continue to remain buoyant and has the potential to sustain at a compounded annual growth rate (CAGR) of approximately 30-35 per cent for the next five years. The FICCI-E&Y report, Wellness: Exploring the Untapped Potential, has classified the wellness industry into seven core segments within different products and services such as allopathy, alternative therapies, beauty, counselling, fitness/slimming, nutrition and rejuvenation. Of these, rejuvenation services such as spas, alternative therapies, ayurveda treatments and beauty services are expected to show growth rates as high as 30 per cent. At the same time, fitness comprising gyms and slimming centers are expected to grow by more than 25 per cent. Nutrition products, including dietary supplements, health food and drinks have shown a growth rate of 8-10 per cent, whereas allopathy as a segment was not classified due to its traditional linkage to healthcare. According to the report, the increasing level of activity is arising from the entry of several providers such as organised Indian and international players; expansion by existing companies to new product categories and regions; strategic alliances across the value chain, interest by private equity investors and also players in allied industries like hotels and real estate entering the wellness segments. The report also points to a trend of players moving towards offering a ‘one-stop-solution’ for all wellness-based needs by adding more products and services across various segments in wellness. In terms of payback and gestation periods, products such as health foods and drinks, dietary supplements and alternative medicines require greater investments, normally exceeding Rs 25 crore or more, says the report, with paybacks ranging from 3-6 years. At the same time, services such as ayurveda treatment, alternative treatment centers, salons etc require much lower investment and also have lower paybacks of upto three years.
* Picture courtesy: Aura
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