As people become keener on their health and quality of life, fitness-related businesses are booming. The number of sports facilities including gyms and fitness centers has increased sharply, while the number of bars and beer pubs is decreasing.
According to statistics from the National Tax Service, the number of sports facilities stood at 5,123 in September last year, up 140 percent from 2014. The number of gyms rose 41 percent from 4,596 to 6,496 over the same period. Due to growing interest in personal grooming, the number of skincare clinics and beauty salons increased 59 percent from 17,359 to 27,849.
Meanwhile, nightlife businesses are becoming less popular. The number of bars fell 10 percent from 41,796 in 2014 to 37,543 in 2017. The number of small beer pubs also decreased 16 percent from 19,849 to 16,733.
"A growing number of people tend to eschew the binge-drinking sessions and younger people don't drink much out of concern for their health these days," said a market insider.
The same trend goes for other countries. According to Britain's Financial Times, "The dumb-bell economy is booming. Members' clubs and boutique gyms (those smaller outfits offering specific, signature workouts via pay-as-you-go classes) are mushrooming in every metropolitan area in which affluent folk seek a spin class." The number of private gyms in Britain rose from around 3,000 in 2012 to over 4,000 last year, according to the daily.
Health and fitness-related smartphone apps are also on the rise. It is nothing new anymore to use apps that count the number of walking steps in a day, and there are many fitness tracker apps that help weight control and measure blood pressure, and provide other health-related tips and assistance.
"Due to the increasing usage of IT devices and technological advancements, we are likely to see many more convenient and useful apps which allow people to simply check their physical condition without bothering to see a doctor," a market insider said.