Medical Tourism Diversity: a Comparative Study of Asian Countries

Objective: It aims to lay down a comparative yet comprehensive view of Medical tourism trends in various countries of Asia (India, Malaysia, Thailand, Singapore etc.). From Research point of view, the study aims to provide a deeper insight into the facts and stats of Medical Tourism industry to enable the regulatory authorities to frame favorable policies for their growth. Methods/ statistical analysis: The present study is a descriptive study based on secondary data. Findings: Evidences suggest that Singapore and Dubai, alongside India, Malaysia and Thailand are the first wave of Asian Medical Tourism. in terms of price of medical services offered, number of medical tourists visited and migrated, factors affecting the demand of medical tourism in Asian Countries. Estimates of the figures of medical tourists are extracted from the statistics published by the Deloitte management consultancy and McKinsey and Company. Application/ Improvement: The less restricted movement of goods and services under the aegis of the World Trade Organization has elevated the liberalization of trade of goods and services. Health care, as a service industry, has made health care services more tradable commodities across globe. The moving over of patients across borders in pursuit of medical treatments has emerged as a significant new element of this trade, a phenomenon evolved as Medical Tourism. A range of medical agencies and government policies have tried to stimulate economic development through medical tourism.