The Life Coaching Business is Booming, According to the 2023 ICF Global Study.
San Diego, CA – The International Coaching Federation (ICF) has released its 2023 Global Study, revealing that the life coaching industry is experiencing an unprecedented boom worldwide. The study highlights the increasing demand for professional life coaches and underscores the significant impact they have on personal and professional development.
The ICF conducted a global study with over 14,500 responses from coaching professionals around the world. The ICF Global Study provided an in-depth analysis of the current state and future trends in the coaching industry. The findings show that the life coaching profession continues to grow at a remarkable pace, with a 54% increase of coaches since 2019. This reflects the increasing recognition and value people place on personal growth, goal achievement, and overall well-being.
Fern Gorin, owner and founder of Life Purpose Institute since 1995, affirms the unprecedented growth in the coaching field. Gorin has been in the coaching field since 1984 and has surveyed the thousands of alumni that have been certified through Life Purpose Institute.
”I’ve witnessed the tremendous growth and positive changes in the coaching profession over the years,” says Gorin. “More coaches are investing in their own development and training, which ultimately benefits their clients. Additionally, the rise in coaching fees reflects the industry’s value and impact on personal and professional growth.” The ICF Global Study showed a 12% increase in average annual income of professional coaches since 2019.
Key findings from the ICF Global Study include:
1. Growing Recognition and Fees
The coaching industry is gaining recognition from organizations and institutions globally. The overall average fee coaches are charging in 2022 was $244 U.S. dollars per hour of coaching, indicating that trained coaches are recognized and valuable.
2. Tremendous Growth: The life coaching industry has experienced exponential growth over the past few years, with a significant increase in the number of professional coaches worldwide. In 2022, the estimated number of coaches exceeded 100,000 which is a 54% increase since the 2019 global estimate. 91% of coach practitioners said they currently have active clients. That’s an estimated 55% increase compared to 2019.
3. Global Reach: The demand for life coaching is not limited to specific regions but is widespread across the globe. The study reveals a surge in the popularity of life coaching in both developed and emerging markets, indicating a universal need for guidance and support both personally and professionally.
4. Positive Client Outcomes: The study emphasizes the positive impact of life coaching on clients’ lives. An overwhelming majority of clients reported significant improvements in areas such as self-confidence, goal attainment, communication skills, work-life balance, and overall well-being. These outcomes further contribute to the growing reputation and effectiveness of the coaching profession.
5.Diverse Clientele: Life coaching is attracting a broad range of clients, including individuals from various professions, entrepreneurs, executives, and individuals seeking personal development and fulfillment. The study highlights the profession’s ability to cater to the unique needs and goals of diverse populations, underscoring its adaptability and effectiveness across different contexts.
The findings of the 2023 ICF Global Study paint a clear picture of the booming life coaching industry and its potential for continued growth. As individuals and organizations increasingly recognize the value of professional coaching, the demand for qualified coaches is expected to rise further.
For more information on the 2023 ICF Global Study and the International Coaching Federation, please visit ICF Coaching Federation.
About the International Coaching Federation (ICF) The International Coaching Federation (ICF) is the leading global organization dedicated to advancing the coaching profession. With over 30,000 members in more than 140 countries, the ICF provides professional support, education, and resources to coaches and clients worldwide. The ICF promotes the highest ethical standards and serves as a trusted authority on coaching best practices.