World Gym, which in El Salvador is located in Antiguo Cuscatlan, has a potential market of 266,000 consumers 15 minutes away by car, of which 13% are interested in yoga and 12% in weight training.
Using the Geomarketing solutions that we have developed for our clients, CentralAmericaData's Trade Intelligence team analyzed the environment of some of the main locations of the fitness centers, which operate in the countries of Central America. Below is an extract of the study's findings.
In recent weeks, interest in activities such as yoga and pilates, and in personal hygiene and weight loss products, has increased in Central American markets.
Through a system that monitors real-time changes in consumer interests and preferences in Central American countries, developed by CentralAmericaData's Trade Intelligence Unit, it is possible to project short and long-term demand trends for the different sectors and markets operating in the region.
It is estimated that in the country about 400 thousand people regularly attend fitness centers, a trend that could go up in the coming years, so some chains project investments for 2020 and 2021.
The business has boosted in recent years, because the population in the country demands healthy and holistic lifestyles, so it seeks sports centers with a portfolio of services concerning nutrition, wellness and disease prevention.
In 2017, countries in the region imported $87 million worth of sporting goods, 8% more than in 2016, reaffirming the upward trend registered since 2013.
Figures from the information system on the Market for Articles and Material for Physical and Sports Culture in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]
In 2016 Central American countries imported $81 million worth of sports articles and equipment, 8% more than in 2015.
Figures from the Information System on the Market for Articles and Materials used for Physical and Sports Culture in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with the graph"]
Between January and September 2016, the countries in the region imported in total a monthly average of $6 million worth of sporting goods and equipment.
Data from the Information Systemon the Market for Articles for Sports and Physical Culture in Central America,presented by the Business Intelligence Unit at CentralAmericaData: [Figure caption = "Click to interact with graphics"]
The government of Costa Rica has announced that it is working on a tender to be launched in early 2017 for the construction of a 25 thousand square meter aquatic center and a 36,000 meter sports center in San Jose.
From a statement issued by the Government of Costa Rica:
The presentation of specifications, financing, social impact studies, sporting information, recreational information and schedule for the project, which is estimated will be ready in 29 months, was made the Minister of Sport, Carolina Mauri, in a ceremony attended by athletes.The two works add up to an investment of $40 million.
The Bodytech chain of gyms is to open branches in Panama and Costa Rica.
The Colombian gym chain, Bodytech has announced that is preparing to go public and establish itself as a leader in the region. In the coming months it plans to reach Panama, Costa Rica and Ecuador.
Bodytech projected it will have 150 branches and 270,000 members in six countries in the region.
Four chains of gyms are planning an investment of over $8 million over the next two years.
With an investment of $3.2 million, Gold's Gym chain, will open three new stores in Curridabat, Escazú and Perez Zeledon.
According to LaNacion.com,"Multispa is another chain that will open branches to the north and west of San José in the next two years, said David Mears, owner of the firm."