Medical Tourism To Contribute 25% of Total GDP in Future: IMTCA

If Varsha Lafargue is to be believed, Medical Tourism in India could contribute 25% of the nation’s GDP. The IMTCA founder and chairperson added that medical tourism had already been playing a major role as a source of national income in countries like Israel and Jordan.The sector right now is highly unorganised, where only a handful of hospitals and doctors are reaping benefits. Given the existing infrastructure, highly skilled doctors and medical professionals and low-cost health services, if fully tapped, the sector may see a five-fold increase in its contribution to the GDP from the current less than five percent, she said. Currently, medical tourism is on a real high, especially in South Asian countries such as Malaysia, Singapore and Thailand. It has also been estimated that India’s share in the global revenues for medical tourism by 2013 end will be around 3%. Already, major private healthcare providers in India such as Apollo and Fortis have reported a huge spike in revenues from medical tourism. It must be noted that Asia already accounts for 12.7% of the revenues from the medical tourism industry.

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