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Cost Competitiveness to Facilitate Industry Growth
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Research Scope: Economy, IndustryGeographic Scope: Sri LankaIndustry Scope: Medical Tourism, Healthcare, TourismDisparity in healthcare costs between developed and emerging countries, coupled with advanced healthcare infrastructure in emerging economies is helping to drive medical tourism in emerging countries. Sri Lanka is amongst the emerging markets in South Asia to be favorably positioned to attract increasing international patients, with countries such as India, Malaysia, and Thailand already being well-established medical tourism destinations. Medical tourism is only at a nascent stage in Sri Lanka; factors such as cost competitiveness, a booming private healthcare industry, internationally trained workers, and so on should help the development of Sri Lanka’s medical tourism industry. Moreover, the government has identified medical tourism as a key driver to augment the country’s service exports.What makes this study unique?This study explores Sri Lanka’s emerging medical tourism industry in detail and delves into industry costs, drivers, restraints, outlook, and recommendations.Key Questions Answered:• What is the current scenario of the global and Sri Lankan medical tourism industry?• What are the drivers and restraints to Sri Lanka’s medical tourism industry?• What are Sri Lanka’s competitive advantages in the field of medical tourism?• What is the growth outlook for Sri Lanka’s medical tourism industry?• What are Frost & Sullivan’s key recommendations to develop Sri Lanka’s medical tourism industry?
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