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7 Nov 2012

Tourism

Thai Medical Tourism, 2012: THB2.5 Billion Generated by ASEAN Tourists (Business Brief No.3375 Full Ed.)

Currently, countries having some potential in health-related services are gearing up marketing promotions abroad. This effort is being undertaken seriously by providers in several ASEAN member states, e.g., Singapore and Malaysia, responding to an uptrend in medical tourism worldwide, because they see this as an opportunity to cash in on health trends and graying societies in many countries, especially developed nations.
As for Thailand, we at KResearch expect that the revenues in our medical tourism will reach some THB70 billion this year, THB2.5 billion of which would be generated by clients from within ASEAN.
Amid bright prospects seen in regional medical tourism, Thailand should adjust quickly and become ready for steepened competition, especially after the AEC integration in 2015 that will pave the way for the region to become a top global destination for ‘medical tourists'.

While Thai traditional massage and spa services are famous worldwide, such businesses may need to improve their products and service quality, as well as management and marketing operations to attract more clients. Established firms with strong financial positions and adequate personnel can utilize those strengths, along with their expertise in traditional medicine and hospitality, to expand into ASEAN.

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