Dinis Guarda Research Films
The Wellness Digital Economy small research film by Dinis Guarda 1. Introduction In these uncertain times, we are faced with new challenges to our wellness and lifestyle, with our physical and mental health affected by stress, anxiety, lack of focus and fitness, sleep deprivation and disorders, and a host of many more issues. The Global Wellness Institute has defined the concept of wellness as the active pursuit of activities, choices and lifestyles that lead to a state of holistic health. However, the concepts of wellness and wellbeing are slightly different. Wellbeing encompasses more than just physical health. Wellbeing is also the cultivation of healthy, strong relationships, of practising mindfulness, and a state of happiness and being comfortable, of giving of one’s self. 2. Defining wellness and wellbeing Defining wellness and wellbeing is critical for our times. What does wellness mean? One of the leading resources on global health, the World Health Organization, defines wellness as a state of complete physical, mental and social wellbeing and not merely the absence of disease and infirmity. ... Today, all dimensions of wellness are interrelated and crucial to a fulfilling life. What does wellbeing mean? Wellbeing is defined by the Oxford English Dictionary as “the state of being comfortable, healthy, or happy.” 5 steps to mental wellbeing: Connect with other people. Good relationships are important for your mental wellbeing. Be physically active. Being active is not only great for your physical health and fitness. Learn new skills. ... Give to others. ... Pay attention to the present moment (mindfulness) 3. The business of wellness and wellbeing Wellness and wellbeing have become measurable, opening the door to a new wellness digital economy and what we call Wellness or Wellbeing-as-a-Service (WaaS). This thriving sector attracted more than $2.2 billion in investment in what is now called #WellTech. The market is anticipated to be valued at USD 4,377.95 millions by 2027. This sector is part of the growing $4.5 Trillion #Wellness business, driven by the pursuit to merge with the #healthcare industry, into a whole new market. When we speak about wellness we need to consider the following sectors and economics and research by the Global Wellness Institute: Personal care, beauty and anti-aging a $1.083 Trillion ecosystem; Physical activity that represents a $828B Trillion ecosystem; Wellness tourism - $639B; Healthy, Eating, nutrition and weight loss - $702B; Preventive and personalised medicine and public health; Traditional and complementary Medicine - $360B; Mental wellness - $121B; Wellness real estate $134B; SPA economy $119B; Workplace wellness $43B; Thermal / Mineral $56B 4. Top Meditation apps 2019 The top 10 meditation mobile applications generated a revenue of $195 million last year. The leading apps, @calm, @Headspace and @InsightTimer, lead the market, especially in the USA. US app users invest 63% of their total time spent on InsightTimer. Other main apps are Calm and Headspace. These have a strong business model and valuations of unicorns or close. As the financial data at hand shows us, #Wellbeing and all #wellness sectors are the next big industries to be disrupted by tech. 5. Why the business of Meditation and apps? There are several reasons for this sudden surge of interest in meditation apps. The ease of access means that while people are still using these tools primarily for meditation, they are increasingly useful to create a moment of peace or of self-centring in the daily chaos of ever-changing lockdown regulations and the disruption of our lives. In these uncertain times where human connections have been severely disrupted, these apps can be a strong and effective way to connect with ourselves in a meaningful way, and help to reduce anxiety and the fatigue brought on by constant vigilance and social distancing. Statistics from the US provide evidence on how Americans practise meditation on a regular basis to relax and unwind: the US is the prime market for meditation apps. Other interesting statistics include an 800% surge in children practicing meditation in the past eight years, and the formation of a gender gap: women are shown to meditate more regularly than men. Moreover, smartphone and digital device users are preferring varied monthly subscription plans depending on timings. Measuring wellbeing, wellness, happiness is more and more relevant because it is a better personal, social, professional and economic indicator and the next frontier of the health of a community, country, a company or a business. That is why the concept of Wellbeing-as-a-Service (WaaS) is a hot topic now. The wellness wellbeing digital economy is not solely granted by new, disruptive technologies; but by what lies behind them: the human wellness factor.
