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Healthcare Travel Exhibition & Congress

Worldwide healthcare travel revenue predicted to hit US$100 billion by 2012

eTN Staff Writer  Jun 30, 2009

Rising healthcare standards together with the growing demand for more affordable treatment will keep the Asian market for medical tourism buoyant, according to experts speaking at the Healthcare Travel Exhibition & Congress today at Fairmont Hotel, Singapore. Worldwide gross medical tourism revenue is projected to grow from US$56 billion to reach US$100 billion by 2012, with Asia as a major driver of this growth.

"Buoyed by the success stories of earlier waves of medical tourists, consumers [and] insurance companies, as well [as] businesses fully recognize the reliability and affordability of going overseas for medical procedures. Patients who choose to undergo treatments in Asia can pay just 10 percent of the cost of comparable treatment conducted in developed countries like the United States or United Kingdom. This differential cost, coupled with today's sophisticated travel industry, provides an excellent catalyst to the growth of medical tourism," said Mr. Andrew Keable, divisional director, Informa Life Sciences.

Asia is well-placed to grow in medical tourism as healthcare standards and technology adoption continue to improve. Hospitals in Korea, Malaysia, Thailand, India, and Singapore have made it a point to implement state-of-the- art medical technologies to improve patient care.

Healthcare Travel Exhibition & Congress 2009 is Asia's premier event focusing on two of the world's largest industries: healthcare and tourism. The event brings together professionals, government officials, and decision makers from the healthcare and travel industries, giving them the opportunity to network and share best practices, insights, and knowledge to further develop Asia's thriving healthcare travel market.

Leading-edge technology is on display at the exhibition portion of the event, where close to 30 exhibitors including leading medical suppliers, healthcare travel facilitators, medical spas, and hospitals are showcasing their innovations and services. Governments, too, have begun to recognize the economic potential and are responding by actively participating in the promotion of their respective countries as attractive healthcare destinations.

The conference themes at the congress portion of the event include:

- June 29-30: The global healthcare travel outlook, new challenges and opportunities in healthcare travel, payment and accreditation standards

- June 29-30: Healthcare insurance trends in Asia, best practices, and emerging partnerships

- June 29: Travel Business Day co-organized with Pacific Asia Travel Association (PATA) covering medical tourist requirements, business cases, misconceptions, and the healthcare travel ecosystem

- July 1: Minimizing legal liabilities in global healthcare travel

- July 1: Health insurance risk management for new markets

"We have an impressive line-up of industry leaders and luminaries who will be sharing key topics specifically designed for the medical tourism industry. The exclusive congress segment ensures the unique position of Healthcare Travel Exhibition & Congress as Asia's leading medical tourism event", said Ms. Rebecca Wolfe, divisional director, Informa Life Sciences.

Healthcare Travel Exhibition & Congress is sponsored by Singapore Medicine, CKMP-Council for Korea Medicine Overseas Promotion, and National Healthcare Group. The event is also supported by International Enterprise Singapore, International Medical Travel Association (IMTA), Life Insurance Association, Pacific Asia Travel Association (PATA), Spa and Wellness Association Singapore, Thai Spa Association, and Spa Association Singapore.

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Worldwide healthcare travel revenue predicted to hit US$100 billion by 2012
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