New Delhi [India], August 15 : Bangladesh is a big contributor to India's medical tourism sector and the ongoing instability may lead to a decline in footfalls. CareEdge Ratings anticipates that if the unrest persists, the footfalls are likely to decline by 10-15 per cent from Bangladesh during 2024.
India's neighbor Bangladesh typically accounts for 50-60 per cent of India's total international medical tourism inflow.
In a report, the rating agency asserts that a considerable number of these travelers have either canceled or postponed their visits to India.
India's healthcare system is popular the world over and it has been witnessing significant growth, driven by the country's competitive treatment costs, high-quality medical facilities and services, and relatively short waiting time for treatment.
India ranks among the top 10 countries for medical tourism globally and is especially preferred amongst South Asian, African, and Middle East countries.
"Nearly 70-80 per cent of medical tourists arriving in India are from Bangladesh and Middle East countries."
One of the significant factors driving this is the cultural and linguistic similarities, quality treatment at competitive prices, access to advanced facilities, the rating agency said. Bangladesh stands out as the leading contributor to medical tourism among neighbouring countries, surpassing the Middle East, Myanmar, Maldives, Sri Lanka, and Pakistan.
"This highlights Bangladesh's crucial role in the Indian medical tourism sector. However, recent socio-political instability in Bangladesh poses a risk to this flourishing segment of the industry."
As per CareEdge estimates, international medical tourism footfalls to India had increased by approximately 33 per cent year-on-year in 2023.
Considering the drop in footfalls from Bangladesh along with its gradual revival to normalcy by the end of 2024, CareEdge Ratings expects a minimal impact on the sector.
Although 2021 saw some growth in medical tourism following the significant impact of the Covid-19 pandemic the previous year, it remained subdued due to the ongoing travel restrictions in parts of that year. However, 2022 marked a significant comeback, with medical tourism nearly returning to pre-Covid levels, and the trend continued in 2023.
India's initiative to extend the e-medical visa facility to nationals from dozens of countries is expected to further boost medical tourism in the coming years.
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