THE SIGNIFICANT IMPACTS OF THE MEDICAL TOURISM INDUSTRY ON THE INDIAN ECONOMY
DOI:
https://doi.org/10.47413/vidya.v3i1.339Keywords:
medical tourism, economic growth, GDP, infrastructure, development, healthcare, Ministry of Tourism, IndiaAbstract
India is a popular destination for medical tourism due to its skilled medical professionals and affordable healthcare (Ministry of Tourism, 2024). The Indian government is promoting medical tourism through initiatives such as providing quality care, certification, training, and market expansion support (Ministry of Tourism, 2024). The medical tourism sector's growth can enhance earnings, create jobs, stimulate investment in travel-related businesses, and stimulate growth in other industries, including healthcare - IT (Shah, 2022) (Madhur, 2023). India is a popular destination for medical tourism due to its skilled medical professionals and affordable healthcare, according to a report by ClinicSpots (Sharma, 2021). India ranked seventh among the top 20 wellness tourism markets in 2022, with over 560 lac medical value tourism visits, generating 16.3 billion USD (Patro, 2023). The present study delves into the complex effects of the medical tourism sector on the Indian economy. Specifically, the research aims to determine the most popular medical tourism treatments in India, evaluate the significance and effect of medical tourism on the Indian economy, investigate the measures implemented by the Ministry of Tourism to promote medical travel to India, and ascertain the prospects for medical tourism in India. The study employed a descriptive research design method, and secondary data was utilized to gather data. This study provides a corpus of knowledge by offering a succinct analysis of the effects of medical tourism on the Indian economy. Policymakers, medical professionals, and researchers who want to gain insight into the changing medical tourism landscape in India will find it to be an invaluable resource.
References
Jagyasi, P. and Team. (2023, November 28). Tech Revolution: How Telemedicine Is Transforming Medical Tourism. Dr. Prem Medical Tourism. Retrieved from https://drprem.com/medical-tourism/tech-revolution-how-telemedicine-is-transforming-medical-tourism/. Accessed June 9, 2024.
Agnihotri, A. (2022, December 03). Medical Tourism in India: Top destinations, scenarios, and all you need to know. Hindustan Times. Retrieved from https://www.hindustantimes.com/lifestyle/travel/medical-tourism-in-india-top-destinations-scenarios-and-all-you-need-to-know-101668163467932.html. Accessed June 9, 2024.
Ahmed, D. (2022, October 12). Here’s how India is shaping the future of medical tourism. Financial Express. Retrieved from https://www.financialexpress.com/life/travel-tourism-heres-how-india-is-shaping-the-future-of-medical-tourism-2707932/. Accessed June 9, 2024.
ANI. (2023, March 09). Telehealth expected to revolutionise Medical Tourism in India in 2023. Health World. Retrieved from https://health.economictimes.indiatimes.com/news/health-it/telehealth-expected-to-revolutionise-medical-tourism-in-india-in-2023/98521284. Accessed June 9, 2024.
AVAN Medical Tourism And Telemedicine. (n.d.). Health Consultant in Dhaka. Retrieved from https://avan-medical-tourism-and-telemedicine.business.site/. Accessed June 9, 2024.
Benur, S. (2014). Medical Tourism: Can it be a New Supernova of Indian Economy? Semantic Scholar. Retrieved from https://www.semanticscholar.org/paper/Medical-Tourism-%3A-Can-it-be-a-New-Supernova-of-Benur/2a6746b0a55301273239bd3ed05a03871eb57e0b. Accessed June 9, 2024.
Bhattacharyya, S. B. (n.d.). Medical Tourism Role of telemedicine. asianhhm. Retrieved from https://www.asianhhm.com/healthcare-management/medical-tourism-telemedicine. Accessed June 9, 2024.
Bhowmick, T. (2018). An Overview of Medical and Wellness Tourism in India. Journal of Business and Management, 68-72. Retrieved from https://www.iosrjournals.org/iosr-jbm/papers/Conf.1802-2018/Volume-2/Innovation%20in%20Tourism/10.%2068-72.pdf. Accessed June 9, 2024.
Biswas, M. (2021). Medical Tourism Dynamics in India. IGI Global. doi:10.4018/978-1-7998-3427-4.ch005. Accessed June 9, 2024.
Business Standard. (2019, August 30). Foreigners visiting India can avail treatment without obtaining medical visa: Govt. Retrieved from https://www.business-standard.com/article/pti-stories/foreigners-visiting-india-can-avail-treatment-without-obtaining-medical-visa-govt-119083001408_1.html. Accessed June 9, 2024.
Care Health Insurance. (2023, May 31). Buy health insurance to manage high cost of medical treatment in india. Retrieved from https://www.careinsurance.com/blog/health-insurance-articles/buy-health-insurance-to-manage-high-cost-of-medical-treatment-in-india. Accessed June 9, 2024.
Chandra, A. (2019, January 23). Exploring Medical Tourism Opportunities in India (With Special Reference to Delhi/ NCRZ). SSRN. Retrieved from https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3320007. Accessed June 9, 2024.
Danish, A. (2022, December 26). 2023 Boom Year For Medical Tourism. BM Health Care World. Retrieved from https://bwhealthcareworld.businessworld.in/article/2023-Boom-Year-For-Medical-Tourism-/26-12-2022-459458/. Accessed June 9, 2024.
Dhale, S. (2020). Exploring the Potential of Medical Tourism in India. Semantic Scholar. doi:10.31838/jcr.07.07.126. Accessed June 9, 2024.
Dongxiao Gu, G. H. (2021, August 20). Telemedicine and Medical Tourism. MDPI. doi:https://doi.org/10.3390/healthcare9081073. Accessed June 9, 2024.
Dutta, P. (2022, January 28). Medical Tourism in India Statistics 2023. Clinic Spots. Retrieved from https://www.clinicspots.com/blog/medical-tourism-in-india-statistics-2022. Accessed June 9, 2024.
ETTravelWorld. (2023, January 23). How Telehealth is going to Revolutionise Medical Tourism in 2023. Travel World. Retrieved from https://travel.economictimes.indiatimes.com/news/tourism/how-telehealth-is-going-to-revolutionise-medical-tourism-in-2023/97244220. Accessed June 9, 2024.
Financial Express. (2021, September 27). Medical value tourism in India: What makes the country a leading Medical Tourism Destination. Retrieved from https://www.financialexpress.com/life/travel-tourism-medical-value-tourism-in-india-what-makes-the-country-a-leading-medical-tourism-destination-2338644/#:~
=MVT%20in%20India%20is%20expected%20to%20grow%20to,from%20495%2C056%20in%202017%20to%20697%2C0. Accessed June 9, 2024.
Goel, A. (2022, March 01). How Indian Healthcare System differs from US. Bio Spectrum. Retrieved from https://www.biospectrumindia.com/views/17/20744/how-indian-healthcare-system-differs-from-us.html. Accessed June 9, 2024.
Grand View Research. (n.d.). Medical Tourism Market Size, Share & Trends Analysis Report By Treatment Type (Cosmetic Treatment, Bariatric Treatment), By Service Provider (Private, Public), By Country, And Segment Forecasts, 2023 - 2030. Retrieved from https://www.grandviewresearch.com/industry-analysis/medical-tourism-market. Accessed June 9, 2024.
GWS. (n.d.). Get Medical Treatment with World Class Hospitals at Affordable Cost. Retrieved from https://gwsmedicaltourism.com/. Accessed June 9, 2024.
HT Correspondent. (2020, May 16). Medical tourism companies turn to telemedicine in wake of Covid-19. Hindustan Times. Retrieved from https://www.hindustantimes.com/cities/medical-tourism-companies-turn-to-telemedicine-in-wake-of-covid-19/story-YA0OpXnbjgmvZfsRoHObRP.html. Accessed June 9, 2024.
Madhur, M. (2023, October 13). India’s growing medical tourism calls for increasing healthcare-IT collaboration. HFS. Retrieved from https://www.hfsresearch.com/research/india-medical-tourism/. Accessed June 9, 2024.
Medical Tourism India. (n.d.). Medical Tourism India. Retrieved from https://medical-tourism-india-medical-office.business.site/. Accessed June 9, 2024.
Microsoft Bing. (n.d.). Medical tourism boosts India’s hospital industry. Retrieved from https://www.bing.com/search?q=medical+tourism+boosts+India%E2%80%99s+hospital+industry&toWww=1&redig=711F45BC4BC34D29B1388CEB54AAC546. Accessed June 9, 2024.
Microsoft Bing. (n.d.). Opportunity of medical tourism in India. Retrieved from https://www.bing.com/search?q=opportunity+of+medical+tourism+in+india&toWww=1&redig=19E585F6D3F44BA0BCA73B7AFECBB999 OR https://www.investindia.gov.in/team-india-blogs/rise-medical-tourism-india OR https://www.hfsresearch.com/research/india-medical-touris. Accessed June 9, 2024.
Ministry of Health and Family Welfare. (2023, March 21). Update on improving Medical Tourism in the country. Retrieved from https://www.pib.gov.in/PressReleaseIframePage.aspx?PRID=1909087. Accessed June 9, 2024.
Ministry of Tourism. (2021, July 20). Government has taken several steps to promote India as a Medical and Health Tourism Destination: Shri G Kishan Reddy. Retrieved from https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1737224. Accessed June 9, 2024.
Ministry of Tourism. (2022, January 27). National Strategy and Roadmap for Medical and Wellness Tourism. Retrieved from https://tourism.gov.in/schemes-and-guidelines/guidelines/national-strategy-and-roadmap-medical-and-wellness-tourism OR https://tourism.gov.in/sites/default/files/2022-05/National%20Strategy%20and%20Roadmap%20for%20Medical%20and%20Wellness%20Tourism.pdf. Accessed June 9, 2024.
Ministry of Tourism. (2023, August 07). Ministry of Tourism has formulated a National Strategy and Roadmap for Medical and Wellness Tourism to boost Medical Tourism. Retrieved from https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1946467. Accessed June 9, 2024.
Ministry of Tourism. (2023, March 20). Ministry of Tourism has formulated a National Strategy and Roadmap for Medical and Wellness Tourism in order to boost Medical Tourism in the country. Retrieved from https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1908865. Accessed June 9, 2024.
Ministry of Tourism. (2024, January 09). WELLNESS TOURISM. Retrieved from https://tourism.gov.in/wellness-medical-tourism. Accessed June 9, 2024.
Mishra, V. S. (2021, June 28). Framework for Promotion of Medical Tourism: A Case of India. Springer Link. doi:https://doi.org/10.1007/s42943-021-00027-7. Accessed June 9, 2024.
Mordor Intelligence. (n.d.). India Medical Tourism Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029). Retrieved from https://www.mordorintelligence.com/industry-reports/india-medical-tourism-market/market-share. Accessed June 9, 2024.
Muralitharan, G. N. (2021, June). Medical Tourism in India: Challenges and Way Forward Post the Pandemic. IIPA Digest. Retrieved from http://iipa.org.in/cms/public/uploads/522031635499677.pdf. Accessed June 9, 2024.
Nirmalraj, R., & Ramesh, K. (2022, May 22). Impact of COVID-19 on Indian Medical Tourism and Service Reform. Semantic Scholar. doi:10.53730/ijhs.v6ns3.7687. Accessed June 9, 2024.
Patro, S. (2023, March 25). Medical Value Tourism: An Add On To India's Economic Growth. Business World. Retrieved from https://www.businessworld.in/article/Medical-Value-Tourism-An-Add-On-To-India-s-Economic-Growth/25-03-2023-470526/. Accessed June 9, 2024.
Pavithra, K. M. (2021, May 28). Data: Where does India stand in ‘Private Health Expenditure’ compared to other countries? Factly. Retrieved from https://factly.in/data-where-does-india-stand-in-private-health-expenditure-compared-to-other-countries/. Accessed June 9, 2024.
Press Information Bureau Government of India. (2019, August 30). Liberalization of medical visa regime: facilitation by non-requirement of conversion of primary visa into medical visa when a foreigner seeks admission into a hospital owing to an illness. Retrieved from https://www.mha.gov.in/sites/default/files/foreignervisa_31082019.pdf. Accessed June 9, 2024.
Reportlinker. (2023, February 16). Medical Tourism Global Market Report 2023. PR Newswire. Retrieved from https://www.prnewswire.com/news-releases/medical-tourism-global-market-report-2023-301747850.html. Accessed June 9, 2024.
Saigal, P. C. (2022, September 12). Rise of Medical Tourism in India. Invest India. Retrieved from https://www.investindia.gov.in/team-india-blogs/rise-medical-tourism-india. Accessed June 9, 2024.
Shah, R. (2022, October). India Tourism Market Outlook (2022 to 2032). fmi. Retrieved from https://www.futuremarketinsights.com/reports/india-medical-tourism-market. Accessed June 9, 2024.
Sharma, N. C. (2023, August 17). Revival of medical tourism boosts India’s hospital industry: ICRA. Business Today. Retrieved from https://www.businesstoday.in/industry/top-story/story/revival-of-medical-tourism-boosts-indias-hospital-industry-icra-394509-2023-08-17. Accessed June 9, 2024.
Sharma, S. (2020, April 08). India spending more on healthcare now, but yet not as much as others; here’s how much US, China spend. Financial Express. Retrieved from https://www.financialexpress.com/policy/economy-india-spending-more-on-healthcare-now-but-yet-not-as-much-as-others-heres-how-much-us-china-spend-1922253/. Accessed June 9, 2024.
Sharma, S. (2021, January 30). Economic Survey 2021: More lives lost due to poor medical quality than lack of healthcare access. India Today. Retrieved from https://www.indiatoday.in/business/budget-2021/story/economic-survey-2021-more-lives-lost-due-to-poor-medical-quality-than-lack-of-healthcare-access-1764108-2021-01-29. Accessed June 9, 2024.
Sharma, V. M. (2021, June 28). Framework for Promotion of Medical Tourism: A Case of India. Springer Link. Retrieved from https://link.springer.com/article/10.1007/s42943-021-00027-7. Accessed June 9, 2024.
Taneja, R. (2022, August 09). Medical value travel – The boon for India’s economic growth. The Times of India. Retrieved from https://timesofindia.indiatimes.com/blogs/voices/medical-value-travel-the-boon-for-indias-economic-growth/. Accessed June 9, 2024.
TeamMozocare. (2020, January 28). Treatment In India. mozocare insights. Retrieved from https://www.mozocare.com/insights/treatment-in-india/. Accessed June 9, 2024.
test book. (2023, September 28). Medical Tourism in India: A World of Healing Opportunities. Retrieved from https://testbook.com/ias-preparation/medical-tourism-india. Accessed June 9, 2024.
The Statesman. (2023, March 24). India ranked tenth in Medical Tourism Index for 2020-2021. Retrieved from https://www.thestatesman.com/india/india-ranked-tenth-in-medical-tourism-index-for-2020-2021-1503164803.html. Accessed June 9, 2024.
Times, K. (2019, November 19). Visa exemption for foreigners seeking medical treatment in India. zawya. Retrieved from https://www.zawya.com/en/legal/visa-exemption-for-foreigners-seeking-medical-treatment-in-india-i9pe7vto. Accessed June 9, 2024.
Trak. (2023, August 29). The Rise of Medical Tourism: Exploring the Global Phenomenon and Its Implications. Retrieved from https://trak.in/stories/the-rise-of-medical-tourism-exploring-the-global-phenomenon-and-its-implications/. Accessed June 9, 2024.
Wikipedia. (2023, November 10). Medical tourism in India. Retrieved from https://en.wikipedia.org/wiki/Medical_tourism_in_India. Accessed June 9, 2024.
Wikipedia. (2024, January 04). Medical tourism. Retrieved from https://en.wikipedia.org/wiki/Medical_tourism. Accessed June 9, 2024.
Yashoda Hospitals. (n.d.). Treatments and Surgery Cost in India. Retrieved from https://www.yashodahospitals.com/cost-treatment-procedures/. Accessed June 9, 2024.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 VIDYA - A JOURNAL OF GUJARAT UNIVERSITY
![Creative Commons License](http://i.creativecommons.org/l/by-nc-sa/4.0/88x31.png)
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.