As leaders in the health and fitness industry gather in Madrid for the 13th IHRSA European Congress today, the organisation launches its report, The IHRSA European Health Club Report: Size and Scope of the Fitness Industry.

Findings reveal that although the European market has been slowed down by the economy there are lots of opportunities.

Currently revenues stand at around $25bn (£21m, $34bn) with 44 million members in 48,000 clubs.

“Although the economy has clearly challenged Western Europe, most markets are stable, some even witnessing moderate growth,” says Hans Muench, IHRSA director of Europe. “Looking ahead, we anticipate consumer penetration rates to rise, particularly in Eastern Europe, where less than 5 per cent of the population currently patronises clubs.”

There has been growth in Germany, Norway, Poland, Russia and Sweden. The UK has the biggest market, currently worth €4,790m (£4,058m, $6.525m).

Norway has the best penetration rate, at 16 per cent, while Portugal and Greece hover at 6 per cent.

Poland and Turkey are the leading emerging markets in terms of market size, club count and memberships.

High VAT rates and debts have stunted growth in Portugal, Italy, Spain and Greece, but experts feel there are opportunities in these markets to address obesity rates and facilitate regular activity.

The 128-page report looks at 32 markets and is available in PDF format and in print from the 21st October. It’s priced at €199.95 ($269, £170) for members and €399.95 ($569, £339) for non-members.