WELL – Wellness and Wellbeing
WELL – Wellness and Wellbeing
To strengthen and grow its industry-led entrepreneurial training portfolio, ɬ is currently developing a new programme - WELL, for launch in 2024/25, focused on the Wellness and Wellbeing Economy. This builds on our UIF supported Start for Future collaboration with Edinburgh Napier University that has leveraged European funding to support entrepreneurship in Health Sciences and Food and Drink.
The rise in consumer interest in health and wellbeing presents new opportunities for Scotland to exploit the burgeoning ‘wellness economy’, defined as “industries that enable consumers to incorporate wellness activities and lifestyles into their daily lives”. The wellness market is significant and transcends a number of traditional sectors and opportunities. It is estimated that wellness generated an estimated £5.7 billion in Gross Value Added (GVA) for the Scottish economy in 2020 by the 6.7k businesses engaged in wellness activities (this includes domestic and export-related wealth creation). This is forecast to rise to approximately £7.0 billion GVA by 2030.
ɬ’s School of Health Sciences offers the largest range of professional healthcare courses of any University in Scotland, and is well placed to respond to a complex range of drivers linked to the long-term growth of the wellness economy. The wellness economy, with an estimated domestic market size of £6.6 billion, offers significant scope for innovation and entrepreneurship including: ageing populations in key markets; unprecedented interest in healthier and sustainable lifestyles; , a focus on a preventative approach to healthcare; and the development of new consumer behaviours and consumption patterns, often linked to new technologies, community wealth building and net zero.
