KUALA LUMPUR, Feb 17 — The healthcare tourism market has become a major economic driver in South-east Asia, generating billions in revenue for the region.
According to a 2024 report by RHB titled “Medical Tourism in Asean”, the global healthcare tourism market was valued at US$13.1 billion (RM58.55) in 2023, with medical tourists visiting Asean countries accounting for a third of the global healthcare tourists.
In Asean, Malaysia is among the top destinations for medical tourism within the region and took in over RM2 billion in revenue for 2023.
According to the report, Malaysia is a preferred destination for medical tourism, particularly for affluent Indonesians seeking high-quality healthcare treatments.
Official reports show that over 60 per cent of Malaysia’s healthcare tourism revenue comes from Indonesian patients, followed by visitors from China, India, Singapore, and the UK.
Malaysia’s strategic location and competitive pricing make it an attractive destination, particularly for Indonesians seeking convenient and short-distance travel solutions.
Recent policy changes, including visa-free travel arrangements for tourists from China and India, have further bolstered Malaysia’s appeal, drawing new demographics to its healthcare market.
Malaysia is also known for certain medical services in specific areas, such as in vitro fertilisation, gastroenterology, orthopaedic surgery, and obstetrics and gynaecology, which has attracted a significant number of medical tourists.
The National Heart Institute is also a popular destination for many medical tourists, thanks to the hospital being recognised as the Cardiology Service Provider of the Year in Asia Pacific by the Global Health and Travel Award for seven consecutive years.
But the lucrative nature of medical tourism means Malaysia is not the only country that is chasing international patients.
Thailand
Thailand recorded the highest medical tourism revenue in Asean in 2023, generating approximately US$850 million (RM3.79 billion) that year.
Over the years, Thailand has distinguished itself by offering more than just traditional hospitality or being an affordable tourist destination.
The country has invested significantly in advanced medical technology to accommodate the medical tourism demand over the past decade.
In 2023, Thailand hosted around 2.86 million international patients, predominantly from Middle Eastern countries, followed by the CLMV countries (Cambodia, Laos, Myanmar, and Vietnam), the US, and China.
This growth aligns with the government’s 10-year plan (2017-2026) to establish Thailand as a leading medical hub.
Efforts include the introduction of a multiple-entry medical treatment visa, or non-medical tourism visa, which aspires to extend international patients stays in Thailand for up to one year, compared to the current 60- to 90-day limits per entry.
Last year, Thailand also signed a memorandum of understanding with Saudi Arabia to foster knowledge sharing on hospital management and wellness services between both countries in a bid to boost its medical tourism industry.
Singapore
Singapore ranked third in 2023, with estimated revenues of US$270 million, although exact figures are unknown due to the government’s decision to stop reporting medical tourism receipts since 2015.
Although smaller in scale, Singapore targets patients requiring complex treatments from more developed markets.
However, the strong Singaporean dollar and higher cost of living might deter cost-sensitive medical tourists within the region.
Despite these challenges, Singapore continues to attract patients seeking specialised care for critical and complex health complications.
