Medical Tourism's Leading Drivers, Motivators, and Promoters – The Healthcare Cost Disparity Between the Developed and the Developing Countries

Miyu Fan
2020 Proceedings of the 2020 2nd International Conference on Economic Management and Cultural Industry (ICEMCl 2020)   unpublished
The report explores the phenomenon of medical tourism from an economic perspective. In particular, the discussion culminates by highlighting the field's leading drivers. Room for inefficient healthcare operators is constantly shrinking in a rapidly globalizing industry; hence, it is imperative for all countries to maintain competitive public and private health care sectors. After achieving a precise definition of medical tourism, the narrative considers the manner in which care is sought and
more » ... ivered and the nature of that care. The microeconomics of supply and demand and the dynamics of marketing are investigated in detail as they specifically pertain to medical tourism. The paper discusses specific economic and psychological drivers of medical tourism. Moreover, it surveys ways that various nations of the developed and the developing world are dealing with the phenomenon. The field of medical tourism is also qualitatively evaluated, presenting arguments both solidly opposed to it and effectively in its favor. Empirical evidence collected in the research process suggests that medical tourism is an eventuality that country-specific health care industries have to contend with for the foreseeable future. The only option is to make health care sectors efficient, resourceful, and competitive so that national medical industries can compete at the international stage and attract foreign medical tourists.
doi:10.2991/aebmr.k.201128.009 fatcat:agf2gohwprg45cujtp6ioukvca