The U.S. wellness economy has hit $2.1 trillion, and it’s not slowing down.
The figure comes from new Global Wellness Institute (GWI) data showing the country’s wellness economy grew at an annual rate of 7.9% between 2019 and 2024, while also holding the top global ranking in nine of 11 sectors tracked. Last year, GWI valued the U.S. wellness economy at $2 trillion.
The report, made possible through a partnership with longevity company Fountain Life, puts per capita wellness spending at $6,293 in 2024, up from $4,426 in 2019.
The data captures what many consumers are already living: buying wearables, flocking to gyms within their budgets, enrolling their kids in youth sports and training programs and cutting back elsewhere to make room for healthier purchases.
Wellness real estate data, however, is where it gets interesting — and could hint at what’s to come.
GWI defines wellness real estate as construction expenditures on residential and commercial properties that incorporate intentional wellness elements into their design, materials, amenities, services or programming. As of 2024, nearly 9% of all U.S. construction output falls into the category, up from 5.5% in 2019, the report notes.
The wellness real estate space demonstrated an 18.8% compound annual growth rate from 2019 to 2024, the fastest of any sector tracked, and ahead of the next-closest, mental wellness, at 14.2%. By the numbers, the wellness real estate space has more than doubled, climbing from $94.3 billion in 2019 to $223.2 billion in 2024.
One project in Miami illustrates what growth looks like on the ground.
Terra, one of the major players in the wellness real estate space, just announced that The Well Bay Harbor Islands has received its Temporary Certificate of Occupancy.
The project — set to open this July in Miami — is said to be the first fully integrated wellness residential and office concept of its kind in the U.S., with more than 22,000 square feet of wellness amenities and a 16,000-square-foot private wellness space.
The developer and the wellness brand have a second wellness-focused residential and membership community in the pipeline: The Well Coconut Grove, which is set for 2835 Tigertail Avenue and slated to open in Q1 2028.
Elsewhere in Miami, Continuum Company will launch its Sport & Wellness Residences on Biscayne Bay, featuring 150,000 square feet of waterfront sport and wellness spaces.
Investors are on board, too. Sekra, a new wellness apartment startup backed by Uber founder Travis Kalanick and Equinox executive chairman Harvey Spevak, just closed a $12.5 million seed round.
Following wellness real estate and mental wellness are thermal and mineral springs (10.2%) and traditional and complementary medicine (10.0%). The public health, prevention and personalized medicine segment reached $240 billion in 2024, growing at 8.8% annually over the same period.
Worth noting at the sub-sector level is fitness technology, which is found within the broader physical activity category and posted a 16.9% compound annual growth rate.
GWI projects the global wellness economy will reach nearly $9.8 trillion by 2029.
