Has the Economic growth of Medical Tourism developed rapidly?


  •  One of the fastest growing economies in the Healthcare industry is the Medical Tourism. Medical tourism holds the centre of attraction for both the developed and developing nations; it also gives an economic boost to not only developed countries but also small or deprived regions, which proves to be an excellent region for the traditional Medicine. The main impact of medical tourism is it contributes greatly to the government by generating millions of revenues by the direct foreign exchange earnings. It also offers employment and business opportunities to the local people and the start-up entrepreneurs in the Healthcare industry.                               
  •   The growth of medical tourism has been rapidly spreading worldwide which on the other hand also helps in generating either direct employment which includes jobs, such as taxi services, hotels, restaurants, etc or indirect employment such as the goods being delivered and also various other services required by the wellness tourism industry.
  •  This in turn greatly contributes to government revenues. The governments, local or state, not only obtain taxes from people employed in the medical tourism industry and through, but from various duties on goods and services offered to vacationers as well. The other forms of revenues also include the direct charges, green tax or departure duty, on medical tourists.
  •  Most of the governments across the world are greatly involved in the investment which involves the development of local infrastructure to attract more foreign medical tourists from developed nations. This process largely involves the construction of better roads, public transport system, and water and sewage systems to accommodate high-end wellness travellers. Better infrastructure leads to encouraging tourism and also increases the standard of life of the local residents.
  •   Furthermore, some destinations for the medical tourism has made a huge impact on the tourists in such a way that they have the urge to visit it again and again or even encourage them to become an enduring resident of that particular region or country, which eventually increases the demand of the accommodation and other essential commodities and thus contributes to the overall development of the nation.

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