I’ve been much more aware of health this year. On a personal level, my mum has been ill and we’ve been in and out of different hospitals, medical institutions and negotiating with different sources of care. I’ve suddenly become more aware of the fragile NHS web that supports us throughout our lives.
And then at work there have been two projects that come at health from quite different perspectives:
One has shown me the financial potential of the growing health market. Health is one of top five global growth sectors and the Global Wellness Institute predicts the $5.6 trillion wellness market will reach $8.5 trillion by 2027.
Here’s why: at the one end of the spectrum, there are the older populations, who hold more of the current wealth. These populations are getting older; they need more medicine and more care - which will be transformed by expensive new technology. At the other end, the world’s future consumers, GenZ are increasingly prioritising wellbeing, fitness and their mental health and spending accordingly.
The second project looked at how arts and culture can help solve some of society’s future big issues. Numerous studies have shown how creative participation can address issues around mental health, loneliness, keeping active. Sketching, dancing, singing; these can all keep you well. Theatre, singing and visiting museums are in the top five activities that generate happiness according to a report from London School of Economics.
The Creative Industries Council Health and Wellbeing Forum and Arts Council England’s recently published report suggests that engaging with the arts should be part of the government’s efforts to shift the focus of healthcare systems towards proactive management of good health. A stretched cultural sector could feel overwhelmed. Is this just another ask on a growing To Do List?
But there is also that significant market to tap into. So we’re asking, why don’t arts organisations capitalise on the commercial opportunities its positive impact on health and wellbeing can bring? There is the potential for real value creation – attracting illusive young audiences, and generating new income streams – as well as delivering fantastic social good.
And why don’t brands and businesses step in and partner to reach these audiences? And to meet social impact goals?
My heroes in this space are the Hospital Rooms. They partner with really credible artists – Peter Liversidge and Alberta Whittle for example, and organisations like The Hepworth Wakefield at Tate. They count the Hiscox Foundation, Bloomberg and Gallagher Re amongst their supporters. Their project with Winsor & Newton, Digital Art School is featured in the CIC/ ACE report above.
And as consumers spend more and more on experiences and wellbeing, the arts and their partners can be part of a positive movement to promote healthier lifestyles, alongside a healthier balance sheet.
Rachel Clarke