Booming Medical Tourism in India
6 Pages Posted: 16 Mar 2013
Date Written: March 15, 2013
India's healthcare sector has made impressive strides in recent years and the country is increasingly projected as a "healthcare hub". Several features have positioned India as an ideal healthcare destination, like cost effective healthcare solutions, availability of skilled healthcare professionals, reputation for successful treatment in advanced healthcare segments, increasing popularity of India's traditional wellness systems and rapid strides made in information technology. The aim of this research paper is to analyze the development of medical tourism in India.
Medical Tourism industry in India is growing and it has vast potential for generating employment and earning large amount of foreign exchange besides giving a fillip to the country's overall economic development. Medical tourism is a multi-dimensional activity, and basically a service industry, it would be necessary that all wings of the Central and State governments, private sector and voluntary organizations become active partners in the endeavor to attain sustainable growth in tourism if India is to become a world player in the medical tourism industry. The medical tourism industry offers high potential for India primarily because of its inherent advantages in terms of cost and quality. However the competition is getting heated up and the success in future will largely be determined by development and implementation of a joint strategy by various players in the industry. Medical tourism is highly affected to travelers, hospitals, insurance companies, hotels etc. considering direct and indirect impact of medical tourism it could be conclude that with short term & long term strategies planning and using the specific abilities and tourism products of developing countries, which suffer from some indices as unemployment, limits in earning and currency flows, inflation and other problems most of their economic problems can be solved.
Keywords: medical tourism, GDP, healthcare industry, traditional treatments, policy measures
JEL Classification: A11
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