Financial Daily from THE HINDU group of publications Saturday, Jun 26, 2004 |
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Industry & Economy
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Tourism `India attractive destination for medical tourism' Our Bureau
New Delhi , June 25 INDIA could emerge as an attractive centre for medical tourism, according to a recently conducted analysis by PHDCCI. The analysis stated that the country could pocket a major chunk of the $3-trillion global healthcare industry in the coming years. At present, the domestic healthcare industry is estimated to be Rs 1,00,000 crore and employing 4 million people. This could grow to Rs 2,70,000 crore by 2012. The study indicated that the sector is growing at a rate of 15 per cent for the past five years and by 2012, medical tourism could account for 25 per cent of revenues of private up-market players. About 10,000 to 12,000 foreign patients come to India just for healthcare services annually. The country has to identify the areas such as orthopaedics for non-trauma medical disease, replacement/corrective surgery etc., urology, dental surgery where the nation enjoys substantial cost and expertise advantage in comparison to western countries, to increase the inflow of foreign patients and converting them into tourists with medical requirements in the country, said the chamber. It has also suggested that a combined package under the aegis of the Ministry of Health, needs to be worked out which should involve airlines, travel and tour agencies, healthcare providers and the insurance agencies in order to attract foreign patients. Kerala receives patients from Gulf countries, Canada and the Maldives, while Mumbai receives tourists from European countries. Gujarat has fast emerged as a prime destination for tourists with cardiological problems. With its specialised medical centres and historical and tourist spots, the State has the potential to become the country's medical tourism hub in the next three years. To attract medical tourists, India would need to invest heavily in building a health base of hospitals and medical personnel and making these facilities more cost effective. It is estimated that around $25 billion to $30 billion would be needed in the next 10 years for healthcare facilities.
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