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Posted On: 07/09/2009
Medical tourism is still growing in Malaysia in spite of the credit crunch. In 2008 tourism to Malaysia increased 5% from the 2007 figure, to 22million.
Medical tourism is the fastest growing sector in the travel industry. People simply can't afford the gargantuan charges for cosmetic surgery in developed states like the US and UK, and so travel to more cost effective destinations with excellent healthcare facilities but far lower prices. Asia and Latin America are the two main growth regions.
Malaysia is the most popular destinations for medical tourism, because it has the best healthcare facilities in the ASEAN, in fact people travel to Malaysia from throughout Asia for its healthcare facilities. In fact, Malaysia received 75% of medical tourists from the ASEAN region in 2008, Japan and Europe each received 3%, India received 2% and 17% was shared between the rest.
Malaysia's healthcare facilities are at such a high standard because it is an ex-British colony. This is also another reason why it is very popular with medical tourists from Britain and around the world; because there is a high prevalence of people who speak English very well.
Medical tourism is of benefit to property markets because of the obvious reasons, increased visitor numbers, increased occupancy of rental properties etc etc.
But medical tourism is of even bigger benefit, because the medical tourism market is still in its infancy; you can't just go down Thomas Cook and book a boob job in Bali. Medical tourists are going online and arranging their own holidays, and their own operations, which means they are far more likely to look at renting a villa privately.
This could easily be exploited by savvy investors, who could create their own package holidays (I suggest lots of insurance and disclaimers, but he who dares wins, right?).
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