Growing global demand for medical and wellness tourism offers bright prospects for Thailand
Increased health consciousness following the Covid-19 pandemic and a global trend towards an ageing society are boosting medical and wellness tourism worldwide.
Demand has increased for wellness and healthcare services by highly skilled professionals at affordable prices, and Thailand has become a popular destination.
Thai authorities and businesses are working together to help strengthen the country’s status as a global hub for medical and wellness tourism.
Meanwhile, industry experts pointed to Thailand’s potential to become an Asian and global hub for wellness and medical tourism due to high-quality services at affordable prices. Foreign visitors can access high-quality care at top-notch facilities for a fraction of the cost they would find in their home countries.
Demand for wellness and medical services has increased as many countries are moving towards an ageing society, with a large part of their population aged over 60.
According to the United Nations, 1.04 billion, or 13.5 per cent of the world’s population, are aged over 60 and the number is expected to increase to 2.1 billion, or 21 per cent in 2050.
Thailand is fast growing to become an ageing society, with 13 million or 20 per cent of its population aged over 60, according to last year's data by the National Economic and Social Development Council. In 2032, people aged over 60 are expected to account for 28 per cent of the Thai population.
Thailand is ranked fourth in overall medical tourism spending and is the only Southeast Asian nation in the top 15 out of 118 countries assessed by the International Monetary Fund (IMF).
In 2019, before Covid-19 struck, medical tourism spending in Thailand accounted for one per cent of the total inbound tourism spending of 1.9 trillion baht. About 3.5 million medical tourists visited Thailand that year.
At that time, an increasing number of medical tourists came to Thailand to take advantage of the great value that top private Thai hospitals provided, the US Department of Commerce’s International Trade Administration said in its report in July.
The Global Wellness Institute in 2020 ranked Thailand ninth among Asia-Pacific countries and 24th in the world in terms of the “wellness economy” potential.
Also, Thailand was ranked second, after Australia, by the Wellness Tourism Initiative 2020 among popular destinations for medical tourists.
