Thailand’s medical tourism industry is expected to draw 2 Million tourists in 2010 on low cost and international standards of medical facilities.
The Department of Export Promotion (DEP) and the Tourism Authority of Thailand (TAT) have predicted that 2 Million tourists will come for healthcare service in Thailand during 2010, an annual growth rate of 14% even higher than the country’s GDP, as reported by
TravalPulse.
While Thailand is facing a tough competition from Malaysia and India, the country reported treatment of the highest number foreign tourists during 2008 in the Asian region. Low healthcare cost, pool of internationally trained medical professionals, use of advanced and sophisticated medical facilities are some of the main reasons that have prompted foreign tourists to get their treatment done in Thailand.
The healthcare cost in Thailand is substantially low – almost one fifth of what in the US and Europe – giving an edge to the medical tourists industry over other countries and prompting patients to get away with their healthcare problems without spending much. In 2008, Thailand generated revenue of $6 Billion (estimated) from foreign medical tourism industry.
The concept of modern medical tourism has picked up momentum and ranges from spa & wellness treatments to major cosmetic, dental and medical operations.
Thailand is well poised to meet this soaring demand by improving its medical facilities and healthcare within affordable limits. People are thronging from different parts of the world for all kinds of treatments, including health checkups, cosmetic and dental surgeries, routine maintenance, etc.
With an arrival of nearly 2 Million patients in 2010, Thailand is expected to generate medical revenue of BT 85 Billion, said “
Asian Medical Tourism Analysis (2008-2012)”, a market research report by
RNCOS. By 2012, the medical tourism industry is projected to reach BT 108 Billion.
According to a Research Analyst at
RNCOS, “The growth in Thailand’s medical tourism tourism will be a big boost to its tourism industry and economy. This boom in medical tourism will create opportunities in related fields and generate employment. Extensive research and development in the field of medical device sector has also resulted in low cost of medical equipments, which in turn, curtails the total healthcare expenditure and attracting patients from worldwide.”
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