Economic potential of natural healing assets: International market trends, business models, and prospects for Ukraine

Abstract

The economic recovery of nations following extensive conflict requires the strategic capitalisation of highvalue, domestic assets capable of generating robust revenue and restoring depleted human capital. Ukraine’s globally significant Natural Healing Assets (NHA) represent such a strategic priority. The study aimed to conduct a comprehensive analysis of international business experience in using NHA to develop practical recommendations for their effective use in Ukraine. The methodology involved systematic analysis, generalisation, and synthesis of data from numerous international reports and academic articles, utilising comparative analysis to assess global market criteria and business models. The concept of NHA was defined as resources recorded in state registers and utilised for profit or social benefit. A detailed analysis of global entrepreneurial markets utilising NHA was conducted. It was identified that the largest markets by volume by 2028 will be wellness tourism (1,359.3 billion USD), bottled water production (438.5 billion USD), and ecotourism (422.3 billion USD). Key criteria (stability, investment attractiveness, sustainability) for nine market segments were systematised, confirming that the growth rates of all NHA markets exceed the CAGR of World GDP. The three main international models for NHA integration (Public, Private, and Public-Private Partnership) were analysed, establishing that the optimal model depends on the specific asset and strategic goals. Comprehensive practical recommendations for Ukraine were developed, identifying medical rehabilitation as a key priority. The research findings provide entrepreneurs, investors, and government authorities in Ukraine with an evidence-based framework for selecting optimal business models and priority investment directions for NHA use.