Chart of the week: Check out how Malaysia is pushing its medical tourism industry further

The government has set a lofty target of MYR1.3b.

The Southeast Asian country is not letting up on its medical tourism ambitions, even as it is on the of the best medical tourist destinations in the region.

According to a report by BMI Research, revenues generated have risen strongly, with the Malaysia Healthcare Travel Council (MHTC) reporting revenues of MYR900mn (USD225mn) in 2015, up 16% year-on-year (y-o-y) from MYR777mn (USD194mn) in 2014.

“Achieving this objective will have its challenges. Data from the MHTC noted a 4% y-o-y dip in the volume of patients visiting the country in 2015. This suggests that 2015's revenue growth came solely from higher spending per international patient,” BMI Research said.

Meanwhile, efforts to establish medical tourism hubs within Malaysia will also be supported by private healthcare providers.

“In part, such support dovetails with their business strategy of leveraging the rise of medical tourism in the country. Malaysia-based KPJ Healthcare acknowledged the opportunities presented by the sector in its 2015 annual report and has earmarked four Joint Commission International-accredited hospitals to cater to medical tourists,” BMI said.