KUALA LUMPUR: Malaysia aims to generate RM650 million in revenue from the medical tourism industry in 2021, assuming the country opens its borders for international travellers by the fourth quarter (Q4) this year.
Malaysia Healthcare Travel Council (MHTC) chief executive officer Mohd Daud Mohd Arif said the best-case scenario revenue recovery target would hinge on travellers' confidence and the public's perception on safety to assume travelling to seek medical treatment.
"The effect of Covid-19 pandemic is quite significant and unprecedented. The uncertain scenario will impact our future's forecast," he told the New Straits Times in an interview recently.
However, the medical tourism revenue could reach RM580 million in a worst-case scenario, depending on the latest development of the situation such as infection rate, borders closure and restriction, as well as the people's confidence to travel.
"If our borders do not open at all this year, international travel may not resume. Hence, we have to revise our revenue forecast," he said.
Mohd Daud said Malaysia's medical tourism revenue is estimated at RM800 million in 2020, compared to RM1.7 billion revenue posted in 2019.
"The figure (revenue estimation in 2020) is likely enough to sustain for now. We do have Malaysian patients and existing international patients residing in Malaysia seeking medical treatment," he said.
Malaysian healthcare providers excelled at cardiology, oncology, fertility, orthopaedics and cosmetic surgery with patients mainly from Indonesia, China, Indo-China (Vietnam, Cambodia, Myanmar).
Mohd Daud said MHTC intends to attract more patients seeking medical treatment and increase their spending amount in Malaysia to boost the country's medical tourism industry, creating a spillover impact on the local economy.
"We are cautiously optimistic for the industry. We have to portray a positive image abroad on Malaysia's quality, accessibility and affordability for our medical treatment - keys unique selling proposition for the country," he said.
Mohd Daud said the Covid-19 pandemic has changed the medical travel landscape in Malaysia and MHTC aspired to fuel the industry's growth while improving the patient's journey experience.
"We have a five-year plan to focus on the industry's recovery via close collaboration with various stakeholders including the MoH and MKN as well as private hospitals," he said.
On the government's preparation of executing vaccine passports, he said MHTC would support any movement guided by MoH and MKN on way forward.
Mohd Daud said MHTC was rebuilding the sector, promoting the country's medical tourism digitally and through its MIRC and MHRO offices abroad in making Malaysia the preferred medical destinations.
"It is our first-mover to promote Malaysia as a destination in healthcare to jumpstart the industry.
"We also work with the Association of Private Hospital of Malaysia (APHM) closely to understand on the new market they want to venture once the market opens to expand our coverage in the new market," he said.
-nst online.
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