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Amidst the gloom enveloping the tourism sector, a positive development emerging is medical tourism. Many say that the recession in the US will turn out to be a boon in disguise for the sector.
According to figures released by audit and consulting major Deloitte, the year 2007 saw about 450,000 patients from abroad visit India for medical treatment. Experts say that the growth of the country?s medical tourism industry could be as much as 30 to 35 per cent in 2008-2009. This is because the costs of most surgical procedures in India are around one quarter to one fifth of those in the US.
A heart bypass surgery in the US costs anywhere between $75,000 (Rs 34 lakh) and $100,000 (Rs 45 lakh). In India the cost is between $8,000 (Rs 3.50 lakh) and $9000 (Rs 4 lakh). A liver transplant in the US cost around $370,000 (Rs 1.66 crore). In UK, the cost would be around ?115,000 (Rs 80 lakh). However, in India, a liver transplant costs only between $38,000 and $40,000 (Rs 17 lakh to Rs 18 lakh) for adults and between $25,000 and $30,000 (Rs 11 lakh to Rs 13.50 lakh) for children. Even if one includes the airfare costs of a patient plus a companion and five star accommodation costs in India, the cost of getting treated in India is still significantly lower.
Unlike the developed countries, India will continue to have more cosmetic surgeries and non-surgical cosmetic procedures in 2009. Anti-aging procedures such as neck lifts, face lifts and liposuction are some of the most sought-after cosmetic procedures in India and, on an average, cost barely 25 per cent of what they might cost in the UK or US.
Most important of all, the medical insurance business in the US is now beginning to take an interest in India. In November 2008 Wellpoint ? the largest health benefits company in the US ? announced a new international medical tourism product aimed at helping recession-struck American corporates cut their healthcare costs. One significant feature about this product is that members can opt for non-urgent procedures at healthcare facilities in India.
So, regardless of the overall gloom, medical tourism in India is on the upswing despite the recession in the West. But to expect that this could offset the fall in overall tourist arrivals would be overly optimistic, since the overall number of medical tourists is still relatively small. But for those into this niche, the slowdown may just put them on the fast track.
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