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Medical tourism brings strong i...

Medical tourism brings strong income

Medical tourism attracts weathly travellers.

New figures show that inbound medical tourism is attracting wealthy visitors to the country.

Last year saw over 10,000 people head to Australia for some form of medical procedure and contributed more than $26 million to the economy.

Epworth Group hospitals has confirmed that it has provided care for around 600 international patients over the past year. They came from 31 countries, including the Pacific Rim, USA, New Zealand, Singapore and Indonesia and were interested in high-value procedures.

There has also been a rise in Australians travelling abroad for treatment but this has been offset by those travelling in to the country for expensive orthopaedic and heart surgery, cancer services and IVF.

Recent data from Tourism Research Australia showed 10,739 people went to Australia for medical reasons in the year to September 2013 - double the number in 2006.

Medical tourism is estimated to be a $100 billion industry worldwide and is increasing at up to 30 per cent a year, so i could play a key role in the future of Australia's economy if the country develops as a major centre.

Posted by Craig Francis.

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

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