Katherine Johnston, senior economist with SRI International, said one challenge of studying spas is defining how they are measured.

New York–The total size of the global spa economy is $225 billion, according to a recent study released at the second Global Spa Summit.

The Global Spa Summit debuted in 2007 as an effort to bring together the industry's executive leaders, according to Susie Ellis, president of SpaFinder.

Ophelia Yeung, director of SRI International's economics program, pointed out that the spa segment is part of the growing wellness and health industry that totals $1 trillion in economic impact.

The study was conducted by economic researchers SRI International. Ophelia Yeung, director of the economics program, and Katherine Johnston, senior economist with SRI International, told delegates that producing the study meant facing several challenges, among them the fact that, as Young said, "there is a colossal dearth of data on the spa industry." Also, the very definition of a spa has become blurred, Johnston said.

"There were definitional challenges to what is a spa," Yeung said. "Should it be water-based or not? Would we go by the number of services it offers or the number of rooms? Should spas be exclusive only or mass market? It is a similar situation to tourism, where there is debate over whether a trip must include an overnight stay, or whether it has to be more than 50 miles from home.

"This is a young industry frequently not recognized as an industry by governments," Yeung said. "In fact, there is data on the spa industry in only 20 countries, leaving 190 countries [out]. In the end, we decided to be inclusive."

The study's creators decided to define spas as "establishments that promote wellness through the provision of therapeutic and other professional services aimed at renewing body, mind and spirit."

The report estimates $60.3 billion in core spa industry revenue, such as spa facilities, capital investments, education, consulting, media, associations and events; and $194 billion in spa-related hospitality, tourism and real-estate.

"The spa industry is growing at a breakneck pace, but its diversity and scope always have made it difficult to quantify its size and financial strength, as well as to harness the full power of its collaborative voice," said SpaFinder c.e.o. Pete Ellis, who also serves as the chairman of the board for the Global Spa Summit. "For the first time ever, this report shows decision-makers from investors to policymakers to the industry's own leaders just how big the industry is, and how integral it is to the global economy."

The report's findings derive from interviews with more than 50 industry executives, 1,000 responses to a global survey of industry sources and data collected from more than 210 countries—10 times more than in previous spa industry reviews, according to the survey's creators.

According to Johnston, there has been a high level of growth in the spa industry—averaging 10-20 percent but as high as 30 percent in some places.

Yeung noted the spa industry is part of a wellness and health industry that totals $1 trillion in economic impact. That larger segment includes beauty and beauty products, fitness, medical beauty (cosmetic surgery, etc.) and health foods.

Johnston said she hoped this first study "will spur the spa industries in more countries to study their own economies."

The summit, which welcomed 220 delegates—up from 150 last year—also featured a number of breakout sessions.

During a panel on investment, Richard Dusseau, c.e.o. of Spatality, said between now and 2017, $9.7 trillion will change hands as baby boomers pass on inheritances to their children.