Malaysian medical tourism recognized as international destination
The Malaysian medical tourism industry is becoming a leading global destination for international patients in Asia and beyond.
Following its MM2H boom, Malaysia continues to outshine its neighbors. In 2011, the country saw 643,000 medical tourist arrivals compared to 1.2 million in 2018. The Malaysian medical tourism sector generated over $362 million from USD 127 million in the same period in the past.
What is the secret to the phenomenal growth in Malaysia? It is solid government participation and formidable public-private healthcare collaboration. The secret lies in the creation of the Malaysia Healthcare Travel Council (MHTC) – saddled with the responsibility of promoting Malaysia by revamping its international brand.
The MHTC under the Ministry of Finance is actively expanding the country’s medical tourism market, targeting more international patients. The majority of arrivals are from the United Kingdom, Indonesia, Philippines, Japan, Australia, China, India and the United States, but the MHTC is actively looking to set up market ties with ASEAN and the Middle East.
In addition to promoting its brand to other countries, the efforts of the council boosting healthcare quality, affordability and patient experience have led to an annual growth at 16 to 17 percent the past five years. This is ahead of the global average of 10 to 12 and the Asia-Pacific’s average of 12 to 14 percent.
The MHTC estimates that by 2020, more than two million international patients would visit Malaysia, doubling its revenue to USD 680 million.
Malaysia is now in strong competition with Thailand and Singapore. Despite the greater availability of cutting-edge technology and skilled professionals in Singapore, Malaysia still has Thailand as its strong competitor.
Source: Medical Tourism Mag