France
tops a list of 20 destinations with the most potential for medical travel,
according to a new report by the research arm of The Economist magazine.
The report’s Medical Travel Index contains
surprises in its ranking of destinations with the greatest potential for
medical travel. The major surprise is that France, a country that does not
heavily promote medical tourism, comes out ahead of destinations that do.
India, Singapore ranked low.
India and Singapore, for example, are ranked
15th and 16th, respectively. Yet both countries actively market medical travel.
India and Singapore also are listed below
China, which is seen by the medical travel industry as a major source nation
for medical travelers, especially for travel to Taiwan, which is ranked fourth
among medical travel destinations.
Mexico is ranked second, reflecting that
country’s presidential mandate to develop medical travel. However, the report
noted that Mexico’s business environment will likely hold back growth.
The Medical Tourism Index, part of a report
called “Traveling for Health: The Potential for Medical Tourism,” aims to
demonstrate which destinations have the most potential. The rankings are based
on quality of care and aftercare, costs, tourism appeal, and familiarity among
medical travelers.
Weighs costs, economic conditions
The Index rankings, which fly in the face of
the industry’s accepted wisdom about leading medical travel destinations,
combine three sets of analyses.
One ranking measures the strength of a
country’s healthcare system; a second factors in economic conditions for
developing medical travel, and the third ranks healthcare costs.
“Patients, payers and their advisers will
gather specific information on the costs, risks, logistics and expertise
involved in securing a particular treatment in a particular group of
countries,” stated the report.
“The best destination is likely to depend on
the patient’s home country and treatment needs, as well as less tangible
cultural factors.”
Why France?
The Economist acknowledged that France “only
has a small medical tourism industry at present, but clearly has the specialist
care and the business environment to expand.” It added that high costs may be a
deterrent.
The report also noted that much of the same
criteria applies to third-ranked U.S. and sixth-ranked Germany.
It also stated that China’s relatively high
ranking (14th) may be misleading, because its high number of doctors “conceals
some poor training.”
While developed countries dominate the Index,
the report noted that “a significant number of developing countries offer the
right combination of low costs and medical expertise to make it onto our list.”
Factors driving growth
Several trends are converging to fuel medical
travel’s growth potential, the report noted. It cites low costs and medical
expertise as the main drivers, especially for travel from developed countries.
The Internet, lower air fares, trade
liberalization, and the internationalization of both the healthcare workforce
and healthcare training are also contributing to medical travel’s growth
potential, according to The Economist.
Nick Verrastro
Business & Investment Opportunities
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