The health and fitness industry in Latin America generates US$6bn (£4.7bn, €5.5bn) each year, according to the latest International Health, Racquet and Sportsclub Association Latin American Report.

The second edition of the report, an update of the 2012 document, found that Brazil has more than half of the 65,000 health and fitness clubs in the region, with 34,509.

Nearly 20m Latin Americans are a health club member, according to the analysis which covers 18 markets.

The 77-page report, which was produced in collaboration with Mercado Fitness (Argentina) and supported by Fitness Brazil, shows the average penetration rate in region is 2.15 per cent, illustrating opportunities for growth in many countries.

Argentina has the highest penetration rate with 6.8 per cent, followed by Brazil and Mexico with rates of 4.6 per cent and 3.2 per cent respectively.

“The health club landscape in Latin America is dynamic and has undergone significant developments since 2012,” said Guillermo Velez, director of Mercado Fitness. “In addition to the growth of the low-cost segment, other developments, including economic indicators, increasingly savvy consumers, technology, the boutique phenomenon, and professionalisation have all impacted and shaped the industry in Latin America.”

The report, which is available in Spanish, will be available in English soon.