Category Archives: Reports,Features, Statistics

Seoul :

South Korea saw its surplus in its health tourism account top US$100 million last year, largely thanks to increased spending by overseas travelers seeking healthcare and medical services in the country, data showed on Wednesday.

According to the data compiled by the Bank of Korea (BOK), the country’s income from medical tourism reached $187 million in the first 11 months of last year, up 35.3 percent from $138 million a year earlier, marking the biggest tally since the central bank began to keep related data in 2006.

The income outpaced local residents’ overseas spending on medical travel, which amounted to $86.4 million during the cited period, down 11.2 percent from a year earlier.

Consequently, the country logged a surplus of some $101 million in health tourism in the January-November period, compared with a surplus of $41 million a year earlier.

“More foreign travelers are presumed to have visited here to enjoy high quality medical services,” said an official at the BOK.

South Korea’s medical travel income came in at $59 million in 2006 but has increased steadily on the back of the advancement of medical technology and regional governments’ efforts to attract overseas patients.

The income gained steadily from $69.8 million in 2007 to $89.5 million in 2010. The comparable figures for 2011 and 2012 were $131 million and $149 million.

South Korean residents’ overseas expenditures on health-related services reached a peak in 2007 at $137 million and then fell to $96 million in 2009 before rebounding to $109 million in 2010.

They spent $78.5 million and $105 million, respectively, in 2011 and 2012. The country logged its first surplus in medical tourism in 2011 at $52.2 million. In 2012, the surplus fell to $43.8 million.

source: http://www.globalpost.com / Global Post / Home / by Yonhap News Agency / Seoul, Korea – January 08th, 2014 (Yonhap)

In 2013, 2.5 million medical tourists came to Thailand – spending the equivalent of 4 billion dollars – with such diverse origins as the UK, US, Gulf Arab States and Vietnam. Medical tourism is no new fad, with many patients travelling to foreign shores for a number of specialist treatments or perks they cannot receive at home, but the industry is reaching impressive heights in Thailand.

With this surge in popularity for Thai healthcare, it is no surprise that the government has made the industry a top priority; in fact, it is a national goal that Thailand will become the biggest Asian medical hub in the next three years. The increased interest from countries like Myanmar and Vietnam show that the wheels are already in motion.

The director of Bumrungrad International Hospital, Kenneth Mays, talks positively about the way the source countries’ “economy is growing fast but the healthcare sector lags behind” – meaning even more money is likely to come the way of Thailand.

For many, it makes much more sense to fly over the borders to receive top quality treatment, pay lower prices and avoid long queues than to stay at home. What makes this trend even more interesting, and more appealing to its Thai supporters, is that many of these medical tourists are not after complex or specialist treatments and there is, therefore, a wide range of patients to treat.

Not Everyone Is Welcoming Medical Tourists with Open Arms

Obviously, this potential place on the global map is being seen as a positive step by many, and numerous supporters are encouraging governmental projects to increase growth in this area; however, there are also a number of protesters that see the negative side to the venture. It is worth remembering that medical tourism is a private sector that benefits foreign patients and while they get to enjoy the talents of doctors and lower costs, the Thai public may suffer from a lack of resources and increased prices.

Thailand prides itself on its skilled medics but hardly any foreign doctor is employed in the Thai hospitals. Thus, an already limited group of doctors may be stretched too far and taken out of the reach of the locals that need them just as much. Health Economics Research Director, Viroj Naranong, has echoed these concerns, going further by raising the potential problem of a lack of doctors to train the next generation, saying “with more and more patients coming in, it will draw a lot of resources … especially from the teaching hospitals.”

Is It the Right Approach for Thailand’s Medical Industry?

With so much money entering the Thai economy and foreign tourists eagerly booking their flights to take advantage of the greater opportunities that the private clinics and hospitals can provide, it makes sense that the government is keen to expand the sector and entice even more customers – and the goal of becoming Asia’s medical hub seems to be achievable.

The issue is whether this is the right focus for the the country to be adopting and while government proposals are understandable, so are the concerns for local healthcare and the long term effects on the sector.

source: http://www.tourism-review.com / Tourism-Review.com / Home> .TR news / January 05th, 2014