The coming boom in medical tourism
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Before the end of 2009, St. Luke’s Medical Centre will open the MP9-billion (US$189.4million) 600-bed St. Luke’s Medical Centre hospital at the Bonifacio Global City in Taguig The Manilla Times reported today.
St. Luke’s Taguig is the sister hospital of St. Luke’s Quezon City, regarded as the best hospital in the Philippines today and one of the best in the world. St. Luke’s is better equipped than 95% of hospitals in the United States.
The hospital will cater to two main markets, the booming Makati Central Business District and the international market or medical tourism.
In 2007 some 750,000 Americans travelled abroad and spent US$2.1 billion to seek medical care. By 2017, more than 15 million Americans will seek medical services in other countries and spend between US$30 billion andUS$79 billion.
By next year, global medical tourism is projected to be worth US$100 billion, up from US$60 billion in 2007.
A strong medical tourism industry will create jobs, help alleviate poverty and boost the Philippines as an excellent place for doing business and for retiring.
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