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Asian economies to recover significantly through Medical Tourism

Asian economies suffered badly due to the after effects of global recession. However, various expert agencies like the Asian Development Bank predicted a steady growth in Asian GDP over the years. It is expected that the economic growth of several Asian countries would happen due to a major contribution by the medical tourism sector. The projected growth of the Asian region is also higher in comparison to the growth of other economies across the world. Several healthcare experts have an opinion that people involved in international medical travel would significantly drive the recovery of Asian economies.

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It is predicted that more and more people would leave developed nations to receive better medical treatments in developing foreign nations like Thailand, Singapore, India, Philippines and Malaysia. With increasing healthcare costs in developed countries of Europe and America, people would seek wellness in other countries where healthcare costs are lower. As more people are getting aware of the concept of medical tourism and its benefits, they are refusing to wait in long queues in order to receive treatments. Many people have started feeling that healthcare systems in their home countries are overburdened.

Thus, the demand for medical services has been constantly increasing in Asian countries. Many of the global healthcare experts feel that this demand is only bound to grow. With the passage of a new healthcare reform called Obamacare in the U.S., medical tourism to Asian countries is further expected to rise at a much rapid pace. This could happen due to more people opting for cheaper medical treatments and procedures through medical tourism. If they avail same services within their own country, then they would receive these at much higher prices.

Another beneficial aspect of medical tourism is the retirement sector. Senior citizens in developed countries are those individuals who suffer the most due to increased healthcare costs. These people do not have sufficient insurance coverage, and they have limited savings to survive on. Thus, they prefer to move to developing nations where they not only receive a lavish lifestyle, but also better and cheaper medical care. This has occurred as an opportunity for Asian economies where this group of medical tourists can give a boost to their weaker economies.

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