Visits by foreigners to undergo medical procedures in Costa Rica last year generated $437 million, 5% more than was registered in 2016.
According to figures from the Central Bank of Costa Rica, medical tourism revenues have shown sustained growth, as in 2015, 2016 and 2017 there were reports of increases in relation to each of the preceding years of 9%, 16% and 5% respectively.
Between 25,000 and 30,000 patients arrive in the country every year in search of medical services such as surgeries of various types, and dental procedures, among other things.
Authorities estimate that approximately 8 out of 10 health tourists come to the country with a companion, which opens up possibilities for increasing demand for tourism. Among the services most in demand are general, aesthetic and plastic surgeries, weight loss treatments, dental implant procedures, oncological and orthopedic treatments.
The health tourism segment, still in its infancy in the country, could achieve a higher degree of development if a strategy is implemented jointly by tourism companies and medical centers.
Low prices of treatments and medical infrastructure are the main factors which favor growth of the medical tourism segment in Costa Rica, which could also be applied in Nicaragua, once a work plan starts to be implemented which involves coordination between hospitals, government and companies in the tourism sector.
A study by PROCOMER has identified potential business models in the US market through different access channels, ranging from "one to one" to the creation of partnerships with the public sector.
From thereportentitled "Exporting health services to US"by PROCOMER in Costa Rica:
In five years the revenue generated from wellbeing tourism activities has gone up almost three times, going from $7.3 million in 2010 to $26.6 million in 2015.
Lower costs in markets such as the US and Canada is the main reason behind the increase in foreign exchange flows generated from medical tourism activities.
Visitors from the US, Mexico, Colombia, Panama, Singapore and Italy are among a growing number of foreigners who came into the country for medical treatment during 2015.
Figures from the Tourism Commission of Health and Welfare at the Guatemalan Association of Exporters (AGEXPORT) indicate that the number of people who visited Guatemala in 2015 for various medical and dental treatments grew by 18% compared to the previous year.
Investors and companies in the medical tourism and wellbeing sector will be meet on November 25th in San Jose to explore business alternatives and publicize their services.
The event is being organized by the Council for the International Promotion of Medicine in Costa Rica (Promed) and will be held at the San José Palacio hotel from 2 pm. The activity will be attended by companies and investors in the health and tourism sectors, who will present success stories in wellness tourism.
There are now eight clinics dedicated to small outpatient surgery with international accreditation, strengthening the country's position as a medical tourism destination.
Zaldivar Clinic and Day Surgery Center are the two new hospitals accredited by the American Association for Accreditation of Ambulatory Surgery Facilities International (AAAASFI).
A plan is underway to boost medical hydrology in the north of the country, taking advantage of the tourist infrastructure and natural conditions in the area.
Entrepreneurs from San Carlos, in the northern part of the country, plan to form partnerships "with the medical community and businesses in order to build medical centers and train professionals in the health industry, said Lorena Herrera, businesswoman and team president", reported Elfinancierocr.com.
Mexico, Spain and Poland are looking to position themselves as medical tourism destinations competing with the traditional ones such as India, Thailand, Brazil and Turkey.
From an article by the Costa Rican Trade Promotion Office (PROCOMER):
Besides traditional competitors such as India, Thailand, Brazil and Turkey, new international players such as Mexico, Spain and Poland are now seeking to position themselves as medical tourism destinations. On the one hand is Poland, which through a government program is trying to promote itself as a good country in which to find health treatment, rehabilitation, diagnosis and aesthetics services and, through its participation in three consecutive fairs (Miami 2012, Moscow and Monaco in March 2013), has managed to be taken into account by the experts as a new player in this market.
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.
In order to give a boost to medical tourism, a group of Salvadorans are promoting the creation of an association to promote health and to focus on niches that the country can exploit. "The partnership will look out for the interests of the sector, monitoring and ensuring that the people working in it do it well," said Mario Cruz, medical director of Equitec.
In Colombia $642 million will be invested in building more than 200 spas and wellness centers, the crux of a 20-year plan.
From an article by the Costa Rican Trade Promotion Office (PROCOMER):
The Ministry of Commerce, Industry and Tourism in Colombia launched on April 23 a business plan with the objective of making the country a favorite destination for wellness tourism.
A report has been carried out comparing 40 companies in the fields of health and welfare in Guatemala with 50 others from the sector in Mexico, Honduras and El Salvador.
From a press release issued by the Guatemalan Association of Exporters (AGEXPORT):
40 companies in the health and welfare sector in Guatemala City, Antigua Guatemala, Amatitlan and Quetzaltenango were part of the study on supply, demand and packaging carried out to find out about the technical and professional capacity available in each company which is used to provide diagnostic services and medical treatment to the patients coming from abroad. These companies were compared to 50 companies in 2 cities in Mexico, 2 in Honduras and El Salvador.