Ayurvedic and Medical Tourism industries are likely to be the largest beneficiary of 2010 Commonwealth Games and may gain by around Rs.800 crore, according to an estimate survey done by industry body Assoc ham (Associated Chambers of Commerce and industry of India).
In a paper brought out by the chamber titled, “Prospects for Ayuervedic & Medical Tourism Industries during CWG 2010”, It has been predicted that ayurvedic industry would alone earn a business of Rs 500 crore and revenues prospects for medical tourism are predicted for an estimated amount of Rs 300 crore.The job opportunities that would arise for professionals of these two promising industries are projected at about 40,000 new jobs.
The estimates are based on the assumption that over 1800 athlete participation would be bare minimum for 2010 Commonwealth Games in a variety of sporting disciplines while the tourist arrivals is projected at around 6 to 7 lakh overseas visitors .The countries of which maximum outflow of tourists would emerge includes UK, Canada, Australia, Malaysia, South Africa, Singapore and Sri Lanka and over 4 lakh domestic tourists from within the country.
The reputed private hospitals in Delhi and the NCR region like Fortis ,’ Moolchand , Sir Ganga Ram, Apollo, Noida Medicare , Metro , Dharmshila, Max etc, will be able to tap the large inflow of medical tourism. Better connectivity from the games villages and hotels in Delhi will also pave the way for these hospitals to contribute the medical tourism sector .For the last several years, Apollo and Escorts alone have treated over 1 lakh foreign patients.
Keeping in view of India’s ancient tradition of ayurveda and its low-cost medical tourism facilities, a large number of outside visitors from countries like UK, Canada, Australia, Singapore, Malaysia and Sri Lanka would like to take advantages of the domestic ayurvedic and medical tourism facilities.
The chamber estimates further reveal that each foreigner visiting India during the upcoming Commonwealth Games is likely to spend around Rs 10,000 to Rs 35,000 in availing ayurvedic expertise in various spa and herbal centers.
While, the medical tourism spending will be higher between Rs 40,000 to Rs 1, 20,000 in view of cardiac surgery, bone marrow transplant etc., bulk of tourists will spend money on ayurveda and other related treatments.
Based on enquiries received by the chamber through its various workshops and seminars, various players in the hospitality industry based in Delhi, NCR, Haryana, Rajasthan, Uttar Pradesh and Uttarakhand are proposing to set up over 200 ayurveda, spa and herbal centers to provide possible comforts to tourists and athletes who will gather in the city during the period of Commonwealth Games.
The domestic ayurvedic industry market size is currently estimated at Rs 3000 crore which will go up to around Rs 5000 crore in the next 2 years in view of the rising demand for ayurvedic therapy and related products.” This industry would grow at a level of Rs 5500 crore after 2010 CWG games are concluded .The ayurveda, spa and medical tourism centers in neighboring states will also contribute to the growth of this sector, which is currently dominated by Kerala and Karnataka “, further said the report.
The export potential of ayurveda is currently pegged at Rs 12,500 crore and approximately 20,000 units are involved in this field and the main players include Dabur, Himalayas, Zandu and Baidyanath .In India, there are about 380,000 registered medical practitioners of the ayurvedic system of medicine as compared to about 700,000 practitioners of the modern medical system.
According to chamber estimates, the Indian spa industry is expected to receive investment of US$ 35 billion in the next 3 to 4 years .The profit margins in the spa industry are as high as 60 to 65 per cent and the domestic spa industry is offering a mix of traditional ayurvedic, as well as Chinese, Thai and Swedish healing techniques.
Some of the major treatments in the ayurveda and spa centers include rejuvenate programmes & therapy body immunisudation, panchakarma Treatment etc.
Currently, the medical tourism market in India is estimated to be worth over US$ 300 million with approximately 170,000 foreign patients coming in every year and expected to grow into a US$ 2 billion business by 2012 with advantages of low-cost medical and surgery treatment as compared to the US and the EU.
The chamber has also suggested that ministries of health and tourism should jointly set up a separate Department and training institutes to bridge the gap of skilled professionals in this field and also authorize the ayurvedic and herbal centers.
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