Asia and Latin America Fight Over Medical Tourism

Strengths, opportunities, weaknesses and threats in both regions for an industry that continues to grow.

Monday, June 1, 2009

Two large regions that are seeing their revenues grow from the medical tourism industry are Latin America and Asia. Both regions are developing economies and they have good health care options at low prices.

In the report published in Medical Tourism Magazine, some of the strengths, weaknesses, opportunities and threats in the two regions are explored to compare and contrast their potential.

The report highlights the economic opportunities that Latin America can have in the future with the growing interest in the medical tourism industry. Although it is not as advanced in the development of medical tourism as are Asian countries, Latin America has several advantages that can support it, such as its proximity to North America, low labor cost (particularly compared to Northern America), ...

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After a first attempt to consolidate a core of companies engaged in providing medical services to foreigners, efforts are now being made to create an association for promoting medical tourism.

The country is looking to position itself within the medical tourism industry globally, growing at an accelerated rate of 30% annually.

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A report by the Foreign Trade Corporation of Costa Rica (Procomer) outlines the rise of the medical tourism industry of Mexico, specifically in the city of Mexicali, Baja California.

Increase in Medical Tourism to Nicaragua

November 2011

In the last two years medical tourism has increased by 100% according to data from the country's tourism institute.

Relative to the total number of visitors to the country the number of medical tourists is not significant, but the head of the institute (Intur in Spanish), Mario Salinas, says that the change demonstrates that the sector has the potential to keep growing.

World top 5 medical tourism destinations

April 2008

Medical tourism destinations have emerged all over the globe. The industry anticipates a great deal of growth in the coming years, from a 2004 estimate of $40 billion to $100 billion by 2012, according to statistics produced by McKinsey & Company and the Confederation of India.

Experts believe that medical tourism will have a positive impact on the economies of destination countries and benefit skilled and unskilled trades alike. The medical tourism phenomenon may also bode well for foreign investors who hold an interest in those countries.

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