Medical Tourism Industry - Advantage India by C.B. Venkata Krishna Prasad

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Medical Tourism Industry - Advantage India C.B. Venkata Krishna Prasad* Traveling abroad for health is not a new phenomenon. Medical tourism is actually thousands of years old. In ancient Greece, pilgrims and patients came from all over the Mediterranean to the sanctuary of the healing god, asklepios; the god of healing was located at Epidaurus. In roman Britain, patients took the waters at a shrine at bath, a practice that continued for 2,000 years. During 18th century wealthy Europeans used to visit health resorts in North Africa. But in the past seven years or so, the movement has accelerated sharply. It is growing rapidly and turning out to be an immense business opportunity for nations which have the strategic advantage of having…show more content…
Organ transplants, Fertility treatment, cardiac care. Cardiac care, Joint replacement, Lasik. Cosmetic surgery Cosmetic surgery, lasik, Dental treatment Specialist niche treatment, vitiligo, night blindness, cosmetic surgery India 150,000 $33mn Malaysia 129318 $27.63mn South Africa Cuba N.a. not available 50,000 N.a. N.a. $25m-50m The Indian chapter: A study conducted by the confederation of Indian industry (cii) and Mckinsey consultants says that in 2005 around 150,000 foreigners visited India for medial treatment and number is rising by 15 percent every year. CII says that India has the potential to attract 1 million medical tourists per annum and this could contribute around us $ 5 billion to the economy. In many developing countries it is being actively promoted by the government's official policy. India's national health policy 2002, for example, says: "to capitalize on the comparative cost advantage enjoyed by domestic health facilities in the secondary and tertiary sector, the policy will encourage the supply of services to patients of foreign origin on payment. The rendering of such services on payment in foreign exchange will be treated as 'deemed exports' and will be made eligible for all fiscal incentives extended to export earnings". The formulation draws from recommendations that the corporate sector has been making in India and specifically from the Conference on Global Competition &

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