Gym Growth Projected as Restrictions Ease

Gym Growth Projected as Restrictions Ease

November 5, 2021News

As COVID-19 restrictions continue to ease and the economy recovers from the effects of the subsequent downturn, Investors are forecast to return with strength to industry establishments such as gymnasiums and fitness centres. Gym closures during the corona outbreak have led to a strain on industry revenue, including an estimated 8.30% decline throughout  2020. However, such a reduction in activities available hasn’t gone unnoticed by the nation, as rising health consciousness is projected to boost exercise participation nationwide. Gyms and Fitness Centres are forecast to grow at an annualised 5.90% over the next five years. Over 17% of the population currently hold a gym membership, and that figure continues to increase as the medium becomes more mainstream in the media. Becoming an online presence on social platforms, gyms have formed their own culture associated with all thing’s fitness. This trend has found strength in younger generations, who are signing up in far greater numbers than the rest of the population to functional fitness and boutique gyms. These types of gyms offer a different, more involved experience than what has come to be expected within the Australian fitness landscape. Whether the standard 24/7 chain or a socially-focused centre, the future of the Gym and Fitness Centre Industry within Australia looks bright.