Australian CEOs talk up the benefits of ice baths

Australian CEOs and other corporate players are rapidly embracing the global ice bath trend, claiming it improves their fitness, mental health and decision making.

CEOs Des Watkins, Michael Fingland and Barry O’Sullivan, take a 9C cold bath at Recovery Science, Fortitude Valley. Picture: Liam Kidston

What was once just a post-exercise ritual for elite athletes, ice or cold water immersion has become an increasing part of the business world’s tool kit.

Over the past few years, the trend has exploded, redefining the wellness sector and its relationship with chief executives and business executives.

Watkins Steel managing director Des Watkins has been immersing himself in ice cold water for three years and admitted taking the plunge was tough at the start.

“It was hard but I think your thermostat adjusts. I love it. It’s a great way to start the day with a clearer head and I see a lot of CEOs and business people doing it,” he said.

The therapeutic benefits of plunging into ice cold water is nothing new with Ancient Greeks and Egyptians to modern day Scandinavians extolling the virtues of the practice.

However, the recent rise in popularity has much to do with the social media output of the eccentric and very watchable Dutchman, Wim “The Iceman” Hof who combines breathing techniques and ice cold water immersion to supercharge his health and happiness.

Ice therapy advocate Wim “The Iceman” Hof.

Owner of Recovery Science in Fortitude Valley Nathan Carloss spent more than a decade working in professional sports before opening his own wellness centre in 2019, which at the time was the only one in the area that offered a short dip into an ice cold bath.

He said there are now at least 10 centres with ice baths in the area and the demographics have broadened.

“What I’ve noticed in my practice is that early on we were frequented by sports people but more recently we’ve attracted business people, especially CEOs, executives and company groups,” he said.

“People want to improve their general health and there’s a lot of science behind this. It mimics vigorous exercise and we find saunas and ice baths go together. It turns on all your body’s protective mechanisms.

“They’re also putting these things in their homes. I’ve had a lot of members say ‘hey mate I don’t need your services anymore because we have one in the house’.”

While early ice bath advocates had to buy bags of ice and fill a bath up, demand has coincided with a rapid rise in the number of manufacturers and they can cost up to $27,000 for the absolute state-of-the-art product.

According to a Future Market Insights Report the global cold plunge tub market size was $US318.6m ($469m) in 2023 and was forecast to be $US332.9m in 2024 and grow to $US552.7m by 2034. Global cold plunge tub sales are projected to strengthen at a compound annual growth rate of 5.2 per cent and in Australia 4.7 per cent.

For the record, an ice bath is more intense than a cold plunge because it involves submerging yourself in a pool of icy water, usually around 1C to 4C for a short time. The temperature of a cold plunge can be 15C or less and lasts longer.

Some of the claimed benefits of cold plunge/ice bath immersion include increasing alertness; easing sore and aching muscles; reducing swelling, pain, and inflammation after an injury; boosting the central nervous system; decreasing the impact of heat and humidity and ensuring people can cope better with stressful situations.

Of course people with pre-existing heart and other health conditions should check with the doctor before taking the icy plunge.

CEOs Des Watkins, Barry O’Sullivan and Michael Fingland takes cold bath therapy at Recovery Science, Fortitude Valley. Picture: Liam Kidston

Michael Fingland, the chief executive of business turnaround specialists Vantage Performance, has been a participant and an advocate of ice bath therapy for six years.

“In corporate turnaround, we’re always dealing with directors with high stress, bordering on depression. So I started researching … mental strength and mental health to look for solutions to help directors and their senior management teams,” he said.

“If you get directors acting in a more calm and sensible way the quicker they make the big ticket decisions that need to be made – the quicker the turnaround.

“I started researching meditation, breath work and came across ice bathing and saunas and started implementing those tools into our business and saw the benefit of it. Then we started suggesting all these tools to clients.”

Mr Fingland said he found ice baths, saunas and breath work “win hands down” as the most effective because other techniques like meditation take time and effort to perfect.

“Within five minutes you get out and you’re a different person. Because it works so rapidly – that’s why it’s taking off,” he said.

“I don’t get stressed the way I used to. I don’t have the mood swings working in a stressful environment and my quality of sleep has gone through the roof. I’m just happier by stacking these three things together.”

Barry O’Sullivan, founder and managing director of Toowoomba-based property and construction business New­lands Group took the icy plunge two years ago.

“I was introduced to it through Michael (Fingland) and I think part of the journey growing up as a CEO in business is that you get to the stage when you think about your own health and the time you have left on this earth,” Mr O’Sullivan said.

“So you start investigating things that will help you keep fit and I think the ice bath – apart from the benefits of healing muscles from physical activity, it gets the heart beating and stimulates blood flow.

“It was hard for me to get in. But if you get your breathing right and put your face in the water it levels out your temperature much quicker. If you do it properly it’s like a bit of a workout, you get a bit fatigued and hungry afterwards.”