Medical tourism is a relatively new industry which has risen in a big way over the last two decades. Globalisation in the highly lucrative healthcare sector has opened up new opportunities for the economies of India and Thailand. This thesis provides a descriptive and analytical overview of the Medical Tourism industry in India and Thailand. Approach: The author evaluates the sector in terms of Porter’s Diamond model of National Competitiveness. The author has gathered data from available literature and from primary sources on the financial parameters of major local competitors in medical tourism. Findings: The author concludes that major competitors in medical tourism benefit from strong government support and rely heavily on the international market to fuel their growth.
Medical tourism or health tourism is a relatively new concept where patients travel to a foreign destination to obtain quality medical treatments that are better or comparable to the ones in their home country but are available at a significantly lower cost. There has been a phenomenal growth in this trend over the past decade. Due to its speedy growth, medical tourism has developed from a niche market to a global industry. A combination of high costs of treatment procedures and long waiting lists in the west along with growth of the internet, relative affordability of international air travel and favourable exchange rates in the east, has made medical tourism an attractive option for prospective patients (Connell 2005).