Medical tourism revenue rises

BANGKOK, 12 November 2012: Kasikorn Research Centre estimates medical tourism and related tourism programmes could generate Bt140,000 million in revenue this year. But competition is tough with hospitals in Singapore, India, Malaysia and Philippines competing head-on for market share with Thai hospitals. Singapore has the highest market share at 33%, or earnings of Bt90,000 million followed by Thailand (26% , Bt70,000 million), and India (19%, Bt50,000 million). The centre estimates Thailand’s medical tourism market and related tourism programmes could gain Bt140,000 million increasing 18% from the previous year. Of that, Bt70,000 million will be spent on medical services in private hospitals. Another Bt70,000 million will be spent on non-medical expenses — Bt50,000 million for accommodation, food and souvenirs and Bt20,000 million for massage and spa. The centre said the ASEAN medical tourism market will be marked by fierce competition after the ASEAN Economic Community opens in 2015. Kasikorn Research Centre is a subsidiary company of Kasikorn Bank, which conducts tourism and business research mainly on Thailand’s economy including tourism with reliable recommendations and indicators on business prospects. Sourced: ttrweekly