Abstract
Abstract Nowadays, health tourism has emerged as a multi-billion-dollar industry due to the fact that people have frequently traveled in order to improve their wellbeing. The internationalization of health tourism has also motivated production and consumption of healthcare services as well as increased variety of intermediaries and ancillary goods and services to support this sector. Although the significant benefits of health tourism, its actual contribution to economic growth and related issues have remained ambiguous. Therefore, this paper aims to: (i) Discuss the potential economic aspects of health tourism based on the published figures of major destinations in Asia Pacific with an international focus and (ii) Examine the economic risks related to health tourism that either directly or indirectly harm the process of economic growth. The results indicate that development of health tourism satisfies patients’ demand for high quality healthcare at competitive prices, boosts the value of foreign exchange inflow and expands job opportunities. Health tourism services have become the subject of international earnings which has elevated economic opportunities of potential destinations. Besides that, increasing international health tourist flows with high income could evaluate costs of healthcare services, brain drain of healthcare professionals, inequitable health care access. Additionally, increases in international traveling might produce a new economic burden of communicable diseases, environmental degradation; brokers and organ transplants associated with black-market in some destinations. Hence, sustainability and responsibility have been considered as key criteria in the health tourism industry in order to improve tourists’ health performance and maximize benefits for local communities. Such economic analysis also enables us to evaluate benefits and losses from health tourism development and track the balance of trade around this economic sector.
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