Over the last few years, particularly since 2014, the number of people coming to India for medical treatment has grown annually by about 55%. The govt has also promoted India as a preferred medical tourism destination by issuing fast track medical visas and rapid airport clearances for those visiting as medical tourists.
Pandemics have always had significant social and economic effects on humanity over centuries and the hospitality, travel & tourism sector is the worst hit in terms of severity as well as longer recovery periods which also have an impact on medical tourism. During the Covid pandemic, medical tourism was affected mostly on account of travel restrictions between various countries, as well as due to the rise in airfares.
Over the last decade, India has become a sought-after destination for medical value travel and holds 5th position among 41 major destinations across the world. India has a geographical advantage due to its location at the heart of South Asia and proximity to West Asia, Gulf countries, Central and South Asian countries.
Now, Hospital chains in India have started medical tourism, Covid pandemic which struck the world over in the first quarter of 2020, had disrupted most of the business across sectors, and at that time industries were moving at snail’s pace for revival. But India’s medical tourism industry remains one bright spot among the gloom. As per the tourism ministry country will always remain the safest, cheapest, and one of the most preferred destinations for medical tourism. The same remained during the pandemic also.
Indian medical tourism industry is likely to revive at a much faster pace than some of the developed nations in Europe and the USA, because India handled the Covid pandemic in a much better way as compared to other nations. Medical tourists are always aware of where they go and how medically safe the country seems to them, and medical travel destinations like India had a lower number of Covid cases and fewer deaths.
to see a revival in medical tourism- a high profit-yielding segment-with easing of international travel restrictions as the Covid threats seem to be receding. One of the leading healthcare chain, Fortis Healthcare said the contribution of medical tourism to the hospital chain’s overall business revenues improved to 5.9% during the quarter ended in December in 2022 from 3.8% in the previous quarter. Max Healthcare said its revenue from international medical tourism stood at Rs 77 Cr during the 3rd quarter of 2021-22, up 68% from the September quarter. Max said the revenue represented two thirds of the pre-Covid run rate. In the major hospital chains foreign medical tourism used to contribute about 10% of total revenues, in the pre Covid era.
As per industry sources, the medical tourism industry may take a quarter or two for it to reach pre-Covid levels, partly because there continue some international travel restrictions, and airfares are still very high. About 20% of medical tourists coming to India used to from Afghanistan. Now, hardly any Afghani is coming for treatment due to uncertain political and economic conditions. India, though has not restricted medical visas, which it grants for 60 days from the first date of entry in the country.
It seems that like many other businesses , the medical tourism is on the path to a rapid recovery
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Anil Malik
Mumbai, India
16th February 2022