Forecasting Market Shares in Wellness Economy Sectors

Wellness, an element of health tourism, has emerged as a rapidly expanding sector due to postmodernism. In the 21st century, wellness has become a global economic market. The Global Wellness Institute has delineated eleven areas comprising the wellness economy, along with market sizes from 2019 to 2022. Assessing Türkiye’s current circumstances alongside those of the nations with the largest market share will provide guidance for the actions to be undertaken by tourism stakeholders. This study seeks to estimate the market shares of 20 prominent countries in the sectors “Mental Wellness, Wellness Tourism, and Thermal/Mineral Springs”. To fulfil this objective, the study employs the Grey Model (1,1), grounded in Grey System Theory (GST). The study estimates that the most significant growth in 2023 and 2024 will occur in the Mental Wellness sector in Mexico, in the Wellness Tourism sector in Spain and India, and in the Thermal/Mineral Springs sector in Türkiye.