Medical tourism: the answer to the problem of global health?

A recent article from McKinsey International highlights the magnitude of the challenge that the leaders of the Governments of developed countries will have to deal with sooner or later. The article analyzes the growing proportion of the wealth of a country that will be dedicated to the health of its citizens in future years.

In Europe currently around 9% of GDP is spent on health care. in the USA is higher, more close to 16% of GDP. Over the past fifty years, the increase in expenditure in OECD countries Healthcare has been above 2% of GDP ... which means that healthcare is taking an increasing share of national wealth. But what happens if this continue? McKinsey says that "If current trends continue to 2050, most OECD countries will spend one fifth of GDP on health care. By 2080, Switzerland and United States will dedicate himself more than half of GDP for him and until 2100 most other OECD countries will reach this level of spending. "

These are quite startling statistics! There is a decent article analysis, outlining the factors of supply and demand that drive growth and offer some arguments why this trend won't or can't continue at this rate. However, the harsh reality is that whatever the Governments and their citizens, they will be confronted by the weight of ever increasing health care costs.

And that is why health care is becoming global, medical tourism is being talked about as one of the solutions. Increasingly, Governments will not be able to provide and consumers will not be able to afford health care they need. The global market in healthcare expands to meet the growing demand of consumers and Governments to low-cost treatment abroad. And this is where enter the medical tourism.

Reference: healthcare Costs: a market-based view: International McKinsey