Health and fitness clubs provide their customers with the infrastructure for their workouts and physical activity in exchange for a membership fee. The market size of the global fitness and health club industry has been steadily increasing in recent years, exceeding 96 billion U.S. dollars in 2019. Some of the largest health clubs worldwide in terms of revenue include 24 Hour Fitness and LA Fitness. At the very top of this list sits Life Time, which generated revenue of almost 950 billion U.S. dollars in 2020. Many of these health clubs are exclusive to the United States and, in fact, the aforementioned three companies also top the list of the largest health clubs by revenue within the United States.
The fitness industry certainly appears to be on the up, with the number of fitness enterprises in the United States rising significantly in the last decade. There was a slight dip in the number of fitness industry businesses in 2020 as a result of the coronavirus pandemic which swept across the globe. Many health and fitness clubs were closed for months on end in an attempt to stem the flow of the disease and gyms were left empty as people were encouraged and, in some cases, legally required to stay at home.
The average cost of a gym membership across the globe varies widely from country to country. The average cost of a monthly gym membership in the United States in 2021 stood at 28.58 U.S. dollars. Meanwhile, gym-goers in Austria had to pay an average of over 107 U.S. dollars monthly for their health club membership. Within the United States, the most expensive gym memberships were to be found in New York state at over 75 U.S. dollars, while residents in Wyoming paid just 38 U.S. dollars on average for their monthly membership. Given the amount of money that fitness fanatics are willing to spend to stay in shape, it is no surprise that the market size of the physical activity industry worldwide is forecast to grow in the coming years. By 2025, this market is estimated to be worth almost 1.2 trillion U.S. dollars.
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