Health and Wellbeing
This growth is largely driven by increased participation as a result of increasing awareness of the benefits of exercise on both physical and mental health. The rise in obesity, heart disease and diabetes has further highlighted the need to alter sedentary lifestyles, and government initiatives and sporting events have given the industry a further boost, as have technological developments.
The Great Recession of 2008 to 2012
The slight decline in the number of fitness facilities observed between 2008 and 2012 could be related to the 2008 global financial crisis, a severe worldwide economic crisis considered by many economists to have been the most serious financial crisis since the Great Depression of the 1930s. The crisis played a significant role in the failure of many businesses and the declines in consumer wealth leading to the Great Recession of 2008 to 2012.
The 2012 London Olympics
One event that could have played a role in the post-2012 growth of the fitness industry is the London 2012 Olympics. The deliberate marketing and success of the games left a legacy that can be empirically observed throughout many sectors of society. Particularly in relation to increased participation and increased investment within the fitness industry.