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Fitness industry set to grow
More people are turning to exercise as an aid to coping with the stresses of the current economic situation, SkillsActive suggests. According to the Sector Skills Council for Sport and Active Leisure, while there is a sector of society that has sunk into depression, far more are taking up exercise and going to the gym as a way of manifesting and dispersing possible anxieties.
As a result, the fitness industry has grown by 1% over the last 12 months and over 120 new fitness facilities have opened across the UK in the same period, according to the Fitness Industry Association (FIA). This looks set to continue despite the outlook for the wider economy, as a Market and Business Development report suggests the health and fitness market will increase year on year to a value of £5.14 billion in 2014.
Commenting, Stephen Studd, Chief Executive of SkillsActive said: “While you may assume that a reaction to the credit crunch would be to cut out all luxuries, it has become clear from these industry figures that the gym and sporting activities are not considered by most to be luxuries, but necessities.”
