Recession Splurging at the Spa

We’re eating out less. We’re not indulging ourselves with that new pair of shoes. But one thing Americans aren’t giving up during this recession is their mani-pedis, facials and massages. Reuters reports that not only has the spa business stayed afloat during these lean times; it has flourished. There were 160 million visits to spas in 2008, up 16 percent from the previous year. Sales industry-wide also increased by 18 percent to $12.8 billion.

Americans are tightening their purse strings to be sure. In May, household savings rose to 6.9 percent, the highest it’s been in 15 years. But it looks like reducing stress outweighs pinching pennies in some cases, especially when it acts as a substitute for a more expensive splurge. Instead of going out for that $200 dinner, why not eat at home and get ice cream as a treat? Newsweek recently put out a list of 10 recession-proof industries. Among them: purveyors of the small luxuries like lipstick brands, ice cream makers and video game manufacturers.

They say that even through a recession, people will always need food, clothing and health care. Turns out, they also need to relax.

Photo courtesy of thomaswanhoff via Flickr.