Wellness in a Digital World: The Rise of a New Wellbeing Economy

Bank of America Institute’s five-part Wellness Series explores a defining challenge of modern life: while technology has improved convenience, connectivity and productivity, it has also introduced new pressures on physical, mental and social wellbeing. Together, the series argues that these challenges are fueling the rapid growth of a global wellness economy and reshaping how individuals, businesses and healthcare providers think about health.

In Part 1, “The Rise of the Wellness Economy,” the Institute highlights how constant connectivity, increased screen time and technology-driven lifestyles are creating new health concerns, including stress, loneliness, obesity, eye strain and mental health challenges. As consumers seek ways to address these issues, wellness has evolved into a multi-trillion-dollar global market spanning fitness, nutrition, preventive health, emotional wellbeing and lifestyle services. The report notes that the U.S. wellness market is the world’s largest, reflecting growing consumer willingness to invest in overall quality of life.

Part 2, “Fostering Social Connection,” focuses on what many researchers now consider a critical component of wellbeing: meaningful human relationships. Despite being more digitally connected than ever, many people report feeling increasingly isolated. The report examines how social health is becoming an important pillar of wellness, driving demand for community-based experiences, group activities and services designed to strengthen personal connections. It underscores the view that strong relationships are closely tied to better mental and physical health outcomes.

In Part 3, “Tech for Mental Health,” the Institute explores how technology can serve as both a challenge and a solution. While digital overload can contribute to stress and anxiety, innovations such as mental health apps, wearable devices, teletherapy platforms and AI-enabled wellness tools are expanding access to support and self-monitoring. The report suggests that technology is increasingly empowering people to take a more proactive approach to understanding and managing their mental wellbeing.

Part 4, “Self-Care’s Expanding Footprint,” examines how self-care has moved from an occasional practice to a mainstream lifestyle priority. Consumers are embracing a broad range of activities, from exercise and sleep optimization to mindfulness, nutrition and stress management, as part of daily wellness routines. The report identifies self-care as one of the fastest-growing segments of the wellness economy, reflecting a shift toward prevention and personal responsibility for health.

The series concludes with Part 5, “Lost in the Scroll,” which addresses the unintended consequences of excessive digital engagement. The report explores how social media, endless content consumption and persistent connectivity can affect attention, relationships and mental health. It encourages a more deliberate approach to technology use, emphasizing balance and mindfulness rather than complete digital avoidance.

Taken together, the Institute’s Wellness Series presents a compelling picture of a world adapting to the realities of the digital age. As technology continues to shape how people work, socialize and care for themselves, wellness is becoming increasingly multidimensional, encompassing physical health, emotional resilience, social connection and thoughtful technology use. The result is a rapidly growing wellness economy that reflects a broader cultural shift: people are placing greater value on holistic wellbeing and actively seeking tools, experiences and services that help them thrive in an increasingly connected world.