Chongqing - The “healing economy” has emerged as a booming trend, captivating millions with its promise to soothe emotional and mental stress. This rapidly growing industry encompasses a wide range of virtual and physical products, offering individuals an array of ways to cope with life’s challenges.

Yoga enthusiasts practice on the vast grasslands of Fairy Mountain in Chongqing, embarking on a journey of natural healing. (Photo/Wulong District)

The new frontier of emotional spending

According to the Global Wellness Institute, the global healing economy is projected to grow at an annual rate of 10%, reaching 7 trillion U.S. dollars by 2025. In China, the healing market was valued at 5.26 billion yuan (about 721 million U.S. dollars) in 2022 and is expected to nearly double to 10.41 billion yuan (about 1.43 billion U.S. dollars) by 2025.

This rise is fueled by increasing consumer interest in emotional well-being. Data reveals that nearly 60% of the population in China suffers from insomnia, while only 19% report no sleep disorders. With mounting pressures from work, education, and relationships, many are seeking solace through healing products and services, both tangible and virtual.

The concept of “healing” in this context refers to alleviating emotional and mental distress rather than addressing physical ailments. Services such as psychological counseling, aromatherapy, and even pet companionship are flourishing. On platforms like Douyin (Chinese version’s TikTok), healing-related topics have garnered billions of views, with sound therapy alone amassing over 3.57 billion views.

On Meituan, a Chinese online life service provider, the availability of healing-related services has surged. " Healing + spa offerings comprise over 70% of new listings. Searches for “healing” on the platform have skyrocketed by 280% since 2024, reflecting a growing demand for services designed to address emotional stress.

Virtual products also play a role in this trend. For instance, the “electronic wooden fish,” a stress-relief product, has gained popularity as a digital alternative to traditional mindfulness tools.

Challenges in an unregulated market

Despite its promising growth, the healing economy is not without controversy. The lack of measurable outcomes for emotional and mental benefits has led to a proliferation of questionable practices and even fraudulent activities.

Some providers exaggerate the efficacy of their offerings to justify exorbitant prices. For example, a sound therapy studio in Sanya charges 3,980 yuan (about 545 U.S. dollars) for a single hour-long session; some claim that the historical period or material of the tool affects its ability to improve sleep. Other businesses exploit social media by portraying an unattainably “perfect” lifestyle to attract followers and sell overpriced products.

Experts warn that such practices not only harm consumers but also hinder the healthy development of the industry. The emotional nature of healing services often leaves consumers vulnerable to psychological manipulation, with some falling prey to pseudo-scientific claims and exploitative pricing schemes.

Experts emphasize the need for stricter regulations and clearer standards to foster sustainable growth. Mo Yuanming, a Chongqing Technology and Business University researcher, suggests establishing industry entry requirements and transparent evaluation systems to prevent unethical practices and ensure quality services. He also recommends a public credit rating system for providers, which would offer consumers guidance in choosing reliable services.

Mo also advises consumers to approach healing services with caution, noting that emotional benefits are subjective and difficult to quantify. “It’s important to make rational decisions and avoid impulsive spending driven by emotional highs,” he says.

As a burgeoning industry, the healing economy holds vast potential to meet growing demands for emotional well-being. However, its future depends on achieving a balance between innovation and regulation. With rising consumer awareness and regulatory improvements, the industry is poised to continue its expansion while addressing the challenges of legitimacy and trust.

(Zhou Ying, a reporter from Chongqing Daily, contributed the Chinese version of this report.)