Travel and tourism is the largest service industry globally in terms of gross revenue and foreign exchange earnings. It is also one of the largest employment generators in the world. It has been a major social phenomenon and is driven by social, religious, recreational, knowledge seeking and business interests and motivated by the human urge for new experience, adventure, education, and entertainment. Tourism is both cause and consequence of economic development. It has the potential to stimulate other sectors in the economy owing to cross-synergistic benefits and its backward and forward linkages.

High growth of world-class medical treatments in developing countries

Healthcare facilities in many developing countries have improved significantly in recent years and their standards of healthcare are now on par with that in the US or Western Europe.

Medical tourism has done exceptionally well in India and the number of medical tourists coming into the country is increasing. Rising healthcare costs in the developed economies, especially the US and the UK, is forcing patients from the region to look for cost-effective and alternative forms of treatment. India, with its pool of highly trained and specialised doctors, good healthcare infrastructure facilities, relatively lower cost of treatment and availability of alternative forms of treatment such as Ayurveda, Yoga, Siddha, and Naturopathy is seeing strong growth in medical tourism.

Medical tourism is promoted through suitable packaging of identified best hospitals and price banding as per treatment requirements. The medical costs in India are much lower at around 25% of the costs in the European and US markets. Medical tourism has grown swiftly despite the economic slowdown. The industry is still at a nascent stage and holds immense potential.

The key benefits of medical treatment and medical tourism in India are:

•  World-class treatment at fraction of the cost in western countries
•  Patients from more than 55 countries availing treatment in India
•  Medical technology, equipment, facilities and healthcare infrastructure in India at par with international standards
•  The Indian doctors recognised among the best globally.

Various medical treatments that can be availed in India include knee replacement, hip replacement, cosmetic surgery, dental treatment, and cardiac care.

The government is also taking several measures to promote medical tourism in the country. This includes issuance of “Medical Visa” for patients and their attendants coming to India for treatment. It has also requested the state governments to promote healthcare packages. Under the Market Development Assistance Scheme, financial assistance would be provided to medical tourism service providers (MTSP), i.e. accredited hospitals and medical tourism facilitators (travel agents and tour operators approved by the Ministry of Tourism and engaged in medical tourism).

Wellness tourism

 Wellness tourism is regarded as a sub-segment of medical tourism. Here, the primary purpose is achieving, promoting or maintaining good health and a sense of well-being. India with widespread presence of Ayurveda, Yoga, Siddha, and Naturopathy, complemented by its spiritual philosophy, is a well-known wellness destination. Wellness tourism includes ayurvedic therapies, spa visits, and yoga meditation. The government is promoting this form of tourism with publicity and promotional activities.

Low travel costs

Significant reduction in travel costs worldwide has made travel to other countries for medical treatments more affordable. This has also boosted industry growth.

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