Medical tourism is the new buzzword in tourism industry around the globe that has been enhancing revenue portfolio for various other sectors. Healthcare, tourism, and spa sectors are receiving due attention because of large number of tourists visiting other cost effective countries for medical purposes. Despite the global economic downturn, medical tourism has emerged as one of the fastest growing segments over the last few years. The erosion of spending power in the West due to slowdown and low cost of treatments in countries like India, Malaysia, and Thailand have coincided to provide a mega boost to the Asian medical tourism sector. With the rising clout of Asian countries compared to others, medical tourism is offering immense potential for future growth and development.
According to our research report “Malaysia Medical Tourism Outlook 2012”, Malaysia is one of the most popular tourist destinations in the ASEAN region. Despite the global economic slowdown, it received around 24 Million international tourists in 2009, an increase of around 7% over the previous year (2008). Singapore, Indonesia, and Thailand are important sources of visitors for the country.
Malaysia offers some of the best attributes in terms of healthcare infrastructure and availability of well skilled medical professionals. The rising number of hospitals and dental clinics along with various medical courses offerings have enhanced country’s image as a preferred destination for health related treatments. In 2009, Malaysia received around 69% of medical tourists from Indonesia, followed by Singapore (12%).
Our report has analyzed each dimension of Malaysian medical tourism industry and has presented current trends and future outlook in a concrete manner. Further growth will be driven by country’s low cost advantage, booming tourism industry, and large inflow of patients from neighboring countries such as Indonesia. It is expected that the revenue from medical tourism will grow at a CAGR of around 20% during 2009-2012.
“Malaysia Medical Tourism Outlook 2012” provides thorough analysis of the current market performance and future outlook of Malaysia’s medical tourism industry. It acknowledges the fact that Malaysia differs vastly from other destinations in terms of cost, infrastructure, human resources, patient perceptions, competencies, and the level of government support. All these factors have been thoroughly studied in the report. Overall, the report provides valuable information to clients looking to venture into these markets and helps them to devise strategies while going for an investment/partnership in Malaysia
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