Despite the pandemic and inflation, the medical tourism industry is booming. Here’s why.
Medical tourism has existed since the dawn of civilization, with records of people from Roman times visiting countries such as Turkey and Switzerland to access hot volcanic waters for healing purposes.
The modern equivalent has been driven primarily by access to information on the internet.
Patients scour the web for treatments on foreign shores — ranging from heart operations to cosmetic procedures — typically at a higher quality and lower cost compared to what is offered in their home countries.
Chris Pochiba is a social media influencer who traveled to South Korea for laser eye surgery in 2022. His wife, Sara Aho, explained why they chose South Korea, instead of other destinations.
“A lot of countries in the world have the same technology. But Korea is known for being very high tech, it’s very clean, very hygienic, very professional, and a little bit familiar,” Aho said.
Indeed, more Americans are opting to seek treatment in the likes of Mexico, Costa Rica, India and Thailand, where their average cost savings are in the range of 45% to 90%.
The Covid-19 pandemic, however, halted international travel — and, by extension, patient inflows — disrupting what was at the time a booming industry worth more than $70 billion.
But it wasn’t all doom and gloom.
“We came back with less people, made more revenue than 2019, last year of 2022,” Paul McTaggart, CEO and founder of medical travel agency Medical Departures, told CNBC.
Paul added: “As you’re seeing inflation at the pump, at the grocery store, you’re also seeing it at the hospital. The price of medicine and dental care has gone up and we’ve been a benefactor of that.”
So is this rapid growth sustainable? And are there pitfalls that individuals considering this route should be wary of? Watch the video above to find out more.
#CNBC #MedicalTourism #Healthcare
-----
Subscribe:
CNBC International TV:
TikTok:
@cnbci
Facebook:
Instagram:
Twitter:
1 view
125
60
2 weeks ago 00:09:47 1
How China Circumvent Sanctions to become global power
2 weeks ago 00:03:57 1
Missouri executes death row inmate despite calls for clemency
2 weeks ago 00:12:31 1
The Beatles ~ Royal Variety Performance (1963)
2 weeks ago 00:03:32 1
NEW TITLE!🔴 lady louise makes final DECISION To change her title and become Princess .
2 weeks ago 00:04:33 1
Tradeoffs
2 weeks ago 00:00:18 1
Belgian shepherd malinois don’t back up when attacked Malinois attacked by stray dogs #dog #malinois
2 weeks ago 00:05:33 2
Carp fishing in France: Beautiful Specimen Carp from Beausoleil
2 weeks ago 00:02:55 1
FAST & FURIOUS 11 Trailer (2025) Vin Diesel, Cody Walker, Dwayne Johnson | Fast X Part 2| Fan Made 7
2 weeks ago 01:13:17 1
“Cave door repair by grandmother and two orphan girls: a night of safety in the mountains“
2 weeks ago 00:03:13 1
UNDEFEATED - XG & VALORANT (Official Music Video) // VCT Pacific 2024 Song
2 weeks ago 00:07:40 1
Kingsglaive: Final Fantasy XV [ 4K - HDR ] - Death of King Regis (2016)
2 weeks ago 00:00:49 4
Can’t Believe I Fought a Sea Lion! 🦭 🎥IG: @joserlfreedive #spearfishing #sealions
2 weeks ago 00:03:49 1
Alphaville - Big In Japan (Flashlights, )
2 weeks ago 00:01:44 5
Real Madrid vs Man City Champions League Goals and Highlights
2 weeks ago 00:01:57 4
The Tattooist of Auschwitz | Official Trailer | Sky
2 weeks ago 00:52:56 1
Spring Afternoon at The Woodland Tea Room: Cottagecore Baking & Crafts 🌼 Cosy Forest Cottage ASMR
2 weeks ago 00:36:31 1
HEAD OVER HEELS 1971 Original `Red Capitol` USA Rare Power Trio £350
2 weeks ago 00:00:54 1
Did you know there are four species of hyena?
3 weeks ago 00:04:12 1
In Hearts Wake - Farewell (Official Music Video)
3 weeks ago 00:04:07 1
Alphaville - Big In Japan (Thommys Popshow extra 1984)
3 weeks ago 00:23:02 1
Fight Countdown: Devin Haney vs Ryan Garcia
3 weeks ago 00:00:18 1
A Robotic Waiter Serves Food at a Chongqing Hotpot Restaurant in China! #tech
3 weeks ago 00:01:32 1
Pursuit of the White Whale A Summary of Herman Melville’s Moby Dick