GEORGE TOWN: Penang is internationally renowned for its outstanding achievements in medical tourism, capturing 45% of the market share last year.
According to statistics from the Malaysia Healthcare Travel Council, the total revenue of the national medical tourism industry reached RM1.15 billion in the first half of 2024.
State Tourism and Creative Economy Committee chairman Wong Hon Wai said in 2023, member hospitals under the Penang Medical Tourism Center received 406,469 international medical tourists, generating an impressive revenue of RM831.94 million.
“Compared to 2022, which recorded 194,327 international medical tourists and RM378.4 million in revenue, these figures represent a remarkable increase of 109.2% and 119.9% respectively.
“This undoubtedly reaffirms Penang’s exceptional strength in the global medical tourism sector,” he said at the signing of an agreement between (PMED), StudyPENANG and UnionPay International.
“The economic benefits of medical tourism extend far beyond the medical fees collected by healthcare institutions. Its broader impact includes both direct and indirect related expenditures.
“Direct expenditures encompass costs such as airfare, accommodation, logistics, and dining for international tourists during their medical stay. Indirect expenditures include spending on entertainment, shopping, and visits to tourist attractions during or after their recovery period,” he said.
According to TA Securities, Malaysia’s medical tourism industry, with its RM2.5 billion revenue target this year, is expected to further drive related sectors such as tourism, transportation, accommodation, and dining, generating approximately RM9.6 billion in economic spillover effects.
“This highlights the immense potential of the medical tourism sector as a high-value-added industry.
“Penang’s medical tourism advantages are clear and remarkable, setting it apart. However, there is always room for improvement,” he said.
Wong added that with the strategic partnership with UnionPay International, Penang’s medical tourism customer experience is expected to be further enhanced.
UnionPay International, one of the world’s leading payment platforms, covers 183 countries and regions, with UnionPay cards issued in 84 countries and regions.
