2023 was another turbulent year of economic, social and industry challenges, as well as the now sadly-all-too-common presence of devastating natural disasters and wars.

In health, fitness and wellness, after scrambling to achieve a new post-pandemic normalcy, business owners and investors, of all shapes and sizes, dizzily walked straight into surging interest rates, spiked energy prices, skyrocketing rental contracts and downward pressure on consumer spending. Out of the frying pan and into the fire, as the old saying goes. Sadly, many businesses did not survive 2023, the domino effect of these negative events and compounded financial distress was too much to bear.

But all is not lost. In a Darwinian world, where only the strongest survive, many brands have thrived under pressure, reinvesting in new experiences, facilities, platforms, partnerships and features. Improvements that have grown their businesses nationally and/or internationally. They are now shining brighter than ever before.

Our industry has remained incredibly resilient. Our value proposition has never been stronger. Our customers never more aware of the benefits we offer. And our ability to now drive business efficiency and innovate our services, is unmatched.

Although our growing ecosystem is still connecting, today we see a new guard of market leaders emerge, full of confidence, capital and ambition. They are taking the lead on investment and technology. They are shepherding in a new dawn, one where 2024 will be our best year ever. And being the eternal optimist, I believe it will be.

To close, thank you to all our report sponsors and contributors. We are incredibly proud to share this report, free of charge, to highlight our industry’s achievements across 2023, but we could not do this without their support.

We trust you enjoy reading the report – which was written by hand and not by AI.