Millions of tourists come to Costa Rica every year to experience the country’s world-renowned natural treasures and to enjoy a taste of Costa Rica’s friendly, welcoming hospitality. Over the last decade however, as the price of quality healthcare has skyrocketed in the US with no apparent end in sight, another breed of tourist…the medical tourist…is arriving, intent on seeking out the best and most affordable healthcare options that have made Costa Rica the envy of its Latin and North American neighbors.
Medical tourism in Latin America is a new and exciting trend created by two critical factors.
While countries like India and Thailand are global leaders in medical tourism, a report by McKinsey & Company indicates that medical tourists from the US and Canada prefer Latin American countries like Costa Rica, citing proximity, shorter flights, affordable costs and the chance for a memorable vacation as the main reasons for their preference.
While the pricing for medical services is often 50% to 70% less than comparable care in the US, many medical tourists choose Costa Rica for the excellent reputation of its private healthcare system. In fact, according to the World Health Organization (WHO) Costa Rica is rated higher than the US and many other “first world” nations in terms of quality health care. A visit to any of Costa Rica’s top private hospitals and dental clinics will provide evidence of Costa Rica’s preferred status. Modern hospitals, medical clinics and dental centers with cutting edge medical technology are staffed by board-certified doctors and surgeons with impressive national, North American or European training.
Approximately 500,000 Americans travel abroad each year for health care services. While exact numbers are hard to find, it has been reported that Costa Rica received approximately 75,000 to 100,000 medical tourists in 2010. These numbers are expected to grow along with Costa Rica’s reputation as a global medical tourism leader.
For those involved in the health care or tourism sectors, medical tourism represents a significant revenue opportunity. While hospitals, medical clinics and dental centers are clear beneficiaries of increased medical and dental tourism, hotels, restaurants, tour operators and all of their associated supply chain partners should consider medical tourism as an outstanding growth opportunity.
While the average tourist may stay an average of 8-9 days, medical tourists visiting Costa Rica stay an average of 11 days and often travel with friends and family, dramatically increasing tourism revenues. With medical tourism revenues anticipated to exceed $100 Billion globally in 2012, Costa Rica stands to earn an increasingly larger piece of this very big pie.