Fitness industry tipped for growth in 2012
Commercial property owners looking to expand their offering may be interested to know that two key industries could be set for growth in the new year.
A report from market research group IBISWorld has found that the resolutions people make in 2011 could be carried across into action in 2012.
One of the main areas that could see an increase in business is health and wellness industry - with this sector making up a sizable portion of the nation's to-do list and many individuals swearing to lose weight and look after their body in the new year.
General manager of IBISWorld Australia Karen Dobie said that Australians are very reliable when it comes to meeting self-set challenges.
"Late January and February is the busiest time of the year for gyms, fitness centres and personal trainers as tens of thousands of Aussies commit to building a fitter, faster, stronger and trimmer self," said Dobie.
"Activities outside of traditional gyms, such as boot camps, yoga, Pilates and martial arts classes will continue to gain popularity - with Australians expected to spend about $190 million on these activities alone."
IBISWorld has predicted a 2.7 per cent growth in the fitness industry as a result of these activities - perhaps giving investors looking at commercial property a compelling reason to look into health and wellness venues.