Medical Tourism Concept
The Healthcare and Tourism activities created a growing economic phenomenon in these two distinct industries, known in today’s economy as “Medical Tourism” (Bookman & Bookman 2007). International travel for the consumption of affordable high quality medical procedures (essential, elective, cosmetic and dental surgeries) denotes the tangibility and intangibility features of such commodities. The rising medical costs and long waitlists drive residents of developed countries such as Australia, Canada, Germany, New Zealand, the United Kingdom and the United States to seek alternative destinations to access high quality and affordable medical treatments without the long waiting times.
The medical tourism sector has been estimated to have generated income revenues of approximately $60 billion US globally, with an expected growth rate of 20 percent annually (Deloitte 2008).
The medical tourism sector has been estimated to have generated income revenues of approximately $60 billion US globally, with an expected growth rate of 20 percent annually (Deloitte 2008).