Medical tourism spending dominated by USA - in and outbound

Health & Leisure
Thursday, 21 November 2019
New research reveals the spectacular growth of global medical tourism, with the US leading the way in terms of both inbound and outbound spending.
The report from the World Travel & Tourism Council [WTTC] - ‘A Prescription for a Healthier Economy’ - shows international spending on medical tourism products and services grew by 358 per cent in nominal terms between 2000 and 2017, increasing from US$2.4 billion to US$11 billion.
 
This growth resulted in spending on medical tourism reaching 1.2 per cent of international visitor spending in 2017, compared to just 0.6 per cent in 2000.
 
According to the report, the US is the world’s leading outbound medical tourism market, representing 20 per cent of the market, with US citizens spending US$2.3bn on medical tourism services abroad in 2017.
 
Kuwait is the second largest source market for outbound medical tourism, spending over US$1.5 billion in 2015, largely due to its government policy of supporting and financing medical procedures abroad.
 
Nigeria is the third largest outbound source market, spending US$783 million on medical tourism in 2017, representing 13.5 per cent of total outbound spend.
 
Notably, of the top 10 largest markets for outbound spend, five are European countries, with the Netherlands, France, Belgium, Austria and Germany, spending between US$300 million and US$678 million.
 
The US is also the largest destination market for inbound medical tourists, with spending reaching almost US$4 billion in 2017, and representing nearly 36 per cent of global medical tourism spending.
 
In second and third respectively in terms of inbound medical tourism are France (US$800m) and Turkey (US$763m), with the latter being home to 43 JCI accredited healthcare institutions.
 
Emerging economies for medical tourism include Thailand, where US$589 million (one per cent of overall inbound tourism spending), Costa Rica, where US$451 million (12.1 per cent of overall inbound tourism spending), and Mexico with US$315 million (1.5 per cent of overall inbound tourism spending) was attributed to medical tourism.
 
Of the top 10 largest markets for inbound spend, five are European countries, with Belgium, the UK and Hungary joining France and Turkey, spending between US$417m and US$636m.
 
As destinations work towards developing their medical tourism sub-sector, WTTC recommend the following elements should be considered as governments develop their strategies and policies:
• Establishing smart regulation and recognised accreditation/certification of medical practitioners and facilities.
• Developing enabling visa facilitation policies which support the development of this sub-sector.
• Defining the skills gap and developing trainings to enhance the talent.
• Designing and implementing targeted marketing strategies.
• Creating the financial incentives to attract investment into the sub-sector.
 
Gloria Guevara, president and chief executive of WTTC said: “As we can see from our latest research, medical tourism is an important and emerging area of interest for the Travel & Tourism sector. It is important that we continue to understand the reasons that people travel, and in many cases work to support policies that enhance the ability for travellers to seek treatment abroad.”

Medical tourism spending dominated by USA - in and outbound

Health & Leisure
Thursday, 21 November 2019
New research reveals the spectacular growth of global medical tourism, with the US leading the way in terms of both inbound and outbound spending.
The report from the World Travel & Tourism Council [WTTC] - ‘A Prescription for a Healthier Economy’ - shows international spending on medical tourism products and services grew by 358 per cent in nominal terms between 2000 and 2017, increasing from US$2.4 billion to US$11 billion.
 
This growth resulted in spending on medical tourism reaching 1.2 per cent of international visitor spending in 2017, compared to just 0.6 per cent in 2000.
 
According to the report, the US is the world’s leading outbound medical tourism market, representing 20 per cent of the market, with US citizens spending US$2.3bn on medical tourism services abroad in 2017.
 
Kuwait is the second largest source market for outbound medical tourism, spending over US$1.5 billion in 2015, largely due to its government policy of supporting and financing medical procedures abroad.
 
Nigeria is the third largest outbound source market, spending US$783 million on medical tourism in 2017, representing 13.5 per cent of total outbound spend.
 
Notably, of the top 10 largest markets for outbound spend, five are European countries, with the Netherlands, France, Belgium, Austria and Germany, spending between US$300 million and US$678 million.
 
The US is also the largest destination market for inbound medical tourists, with spending reaching almost US$4 billion in 2017, and representing nearly 36 per cent of global medical tourism spending.
 
In second and third respectively in terms of inbound medical tourism are France (US$800m) and Turkey (US$763m), with the latter being home to 43 JCI accredited healthcare institutions.
 
Emerging economies for medical tourism include Thailand, where US$589 million (one per cent of overall inbound tourism spending), Costa Rica, where US$451 million (12.1 per cent of overall inbound tourism spending), and Mexico with US$315 million (1.5 per cent of overall inbound tourism spending) was attributed to medical tourism.
 
Of the top 10 largest markets for inbound spend, five are European countries, with Belgium, the UK and Hungary joining France and Turkey, spending between US$417m and US$636m.
 
As destinations work towards developing their medical tourism sub-sector, WTTC recommend the following elements should be considered as governments develop their strategies and policies:
• Establishing smart regulation and recognised accreditation/certification of medical practitioners and facilities.
• Developing enabling visa facilitation policies which support the development of this sub-sector.
• Defining the skills gap and developing trainings to enhance the talent.
• Designing and implementing targeted marketing strategies.
• Creating the financial incentives to attract investment into the sub-sector.
 
Gloria Guevara, president and chief executive of WTTC said: “As we can see from our latest research, medical tourism is an important and emerging area of interest for the Travel & Tourism sector. It is important that we continue to understand the reasons that people travel, and in many cases work to support policies that enhance the ability for travellers to seek treatment abroad.”