What is the growth potential of medical tourism in India?

According to Ministry of Tourism’s figures, medical tourism in India has the potential to cross the $ 9 bn-mark, accounting for 20% of the global market share by 2020. India is now touted as one of Asia’s fastest growing medical tourism destinations.

What is the total potential and growth of medical tourism in India?

Medical tourism is a key growth sector for India, as it is projected to be worth $9 billion by 2020 and become 20% of the global market share in 2020. As a result, the government of India has encouraged the growth of the medical tourism industry and corporate hospitals through public policy.

What is the growing percentage of medical tourism in India?

Medical tourism in India

Official records have shown that the Indian medical tourism industry is growing at 18% CAGR. By this year, it is estimated to be worth 9 billion. It is projected to have 20% of the medical tourism market share by 2020.

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What is the status of medical tourism in India?

Medical tourism is a growing sector in India. In mid–2020, India’s medical tourism sector was estimated to be worth US$ 5–6 billion. In 2017, 495,056 patients visited India to seek medical care.

What are the factors for growing medical tourism in India?

Factors Contributing Towards Increasing Medical Tourism in India

  • Quality healthcare at reasonable costs. …
  • Savings for the patient. …
  • Bypassing waiting lists. …
  • World-class doctors. …
  • Customised approach.

What is mean by medical tourism Why is India emerging fast in medical tourism sector?

India is emerging as one of the favorite destinations for foreign travellers. … India has emerged as the most sought after destination by medical tourists because it has availability of world class doctors at affordable prices when compared to other developed countries of the world.

What is medical tourism and its popular destinations in India?

Mumbai. The fastest growing medical tourism destination in India, Mumbai has several super specialty hospitals, Research and Diagnostic center for orthopaedic, and weight loss surgeries. Mumbai is famous for its cosmetic surgery and Ayurveda treatments.

Why is medical tourism booming?

Technological advancements, the rise of social media and customer-focused services are making information more transparent to consumers as consumers are more willing to seek and pay for elective treatments overseas due to enhanced connectivity and the ease of travel.

How popular is medical tourism?

Medical tourism is becoming increasingly popular, and it is projected that as many as 750,000 Americans will seek offshore medical care in 2007. This phenomenon is driven by marketplace forces and occurs outside of the view and control of the organized healthcare system.

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Why India is booming as one of the most competitive medical tourism destinations in the world?

300 million middle class “healthcare consumers” are creating astonishing demand for quality healthcare. Thus India has become a strong medical tourism destination because of its high quality medical services which are available at low cost. During vacation foreigners are attracted to involve in health tourism.

How can we improve medical tourism in India?

In general, there are three areas where India needs to improve, to boost medical tourism in a post-pandemic future:

  1. Advertise in a better way about the facilities present in major hospitals.
  2. Educate the Indian high commission in various countries about medical tourism as a potential revenue and goodwill earner.

How can medical tourism be improved?

Factors attracting medical tourist to India

  1. Cost. India provides the highest quality healthcare at the lowest price. …
  2. Quality. India provides treatment of high quality using the latest technology and technique. …
  3. Waiting time. …
  4. Language. …
  5. Travel. …
  6. Invest in technology. …
  7. Have a strong online presence. …
  8. Collaborate.

What is development of tourism in India?

During 2019, foreign tourist arrivals (FTAs) in India stood at 10.89 million, achieving a growth rate of 3.20% y-o-y. During 2019, FEEs from tourism increased 4.8% y-o-y to Rs. 1,94,881 crore (US$ 29.96 billion). In 2019, arrivals through e-Tourist Visa increased by 23.6% y-o-y to 2.9 million.

How does medical tourism help Indian tourism sector?

Medical tourism can boost tourism receipts and employment in both medical centres as well as in other sectors. of 5 percent. Medical tourism employment in India is estimated to be about 167000. The growth of medical tourism in India is accelerating and expected to reach USD 8 billion by 2020.

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How can we promote medical tourism?

Promoting Medical Tourism

  1. Grow your business on social media sites. Nowadays, the most effective method of growing one’s business inexpensively is promoting it on social media sites. …
  2. Create a website. …
  3. Advertise. …
  4. Entice clients with lower prices. …
  5. Employ PR in foreign countries. …
  6. Gain recommendations.