How much does medical tourism contribute to India’s GDP?

The medical tourism industry in India has a potential to contribute around 25 per cent in the country’s GDP (gross domestic product) over the next five years if the potential will be fully-tapped, according to Varsha Lafargue, founder and chairperson of Indian Medical Tourism Conference and Alliance (IMTCA).

How much does India make from medical tourism?

Medical tourism is a key growth sector for India, as it is projected to be worth $9 billion by 2020 and become 20% of the global market share in 2020. As a result, the government of India has encouraged the growth of the medical tourism industry and corporate hospitals through public policy.

How much of India’s GDP comes from tourism?

According to The World Travel and Tourism Council (WTTC), tourism generated $194 bn or 6.8% of India’s GDP in 2019 and supported 39.80 Mn jobs which is 8 % of its total employment.

How much does the tourism industry contribution to GDP?

In 2019, contribution of travel and tourism to GDP (% of GDP) for South Africa was 8.7 %. Contribution of travel and tourism to GDP (% of GDP) of South Africa increased from 7.1 % in 2000 to 8.7 % in 2019 growing at an average annual rate of 1.21%.

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What is the rank of India in medical tourism?

According to Amit Sharma – Founder and CEO, eExpedise – India stands on 6th rank in the medical tourism industry, the quality of its medical services has catapulted its image immensely as a developed nation.

Why India is famous for medical tourism?

The country’s advanced facilities, skilled doctors and low-cost treatment make it an ideal destination for medical tourists. Aside from modern medical practices, India has also promoted traditional practices such as Yoga and Ayurveda that promote overall wellbeing and health.

Which tourism has very high potential in India?

Due to India’s various features like “gifted nature” and “cultural heritage”, he said the country has a huge potential for growth of various tourism sectors, including medical, wellness, heritage, cultural, spiritual, wildlife, adventure and sports tourism.

Is tourism increasing in India?

During 2019, foreign tourist arrivals (FTAs) in India stood at 10.89 million, achieving a growth rate of 3.20% y-o-y. During 2019, FEEs from tourism increased 4.8% y-o-y to Rs. 1,94,881 crore (US$ 29.96 billion). In 2019, arrivals through e-Tourist Visa increased by 23.6% y-o-y to 2.9 million.

What country rank as top 1 that contributes highest percentage of travel & tourism to GDP in the world by 2020?

This proportion is largest in Macao (China) where tourism accounts for 48% of GDP.

Is medical tourism increasing in India?

Medical tourism is a growing sector in India. In mid–2020, India’s medical tourism sector was estimated to be worth US$ 5–6 billion. In 2017, 495,056 patients visited India to seek medical care.

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How big is the medical tourism market?

According to Precedence Research, the global medical tourism market size is projected to hit around USD 286.1 billion by 2030 and expanding growth at a CAGR 10.8% from 2021 to 2030. Ottawa, Nov. 18, 2021 (GLOBE NEWSWIRE) — The global medical tourism market size was reached at USD 102.6 billion in 2020.