Bumrungrad International has over 1.1 million visitors every year (over 550,000 outpatient visits) from 190 countries. Apart from 21 VIP suites, multiple restaurants, two Starbucks, and a McDonald’s, it also has a dedicated travel desk, airport shuttle, and 200 language interpreters. A top luxury hotel, perhaps? No. According to Bumrungrad Hospital’s latest financial reports the company’s current revenue(TTM) is $0.72 B. In 2022, the company’s revenue increased to $0.58 billion from $0.38 billion in 2021. 

The Covid-19 pandemic has disrupted virtually every industry all over the world. Medical tourism, too, has been reeling under the impact. But as the world learns to live with this virus, patients are slowly returning to Southeast Asia. With its affordable healthcare advantage, key markets such as Thailand and Singapore are popular destinations.

But why Thailand?

In a perfect world, the most effective medical services would be accessible to all. But that’s not the case. One night at a hospital in Switzerland sets you back by $1,221, while the same costs $811 in Singapore and just $54 in Thailand.

Surgery costs also differ drastically. An angioplasty costs $28,200 in the United States. The treatment expenses fall to $13,400 in Singapore, and in Thailand, it costs $4,200. That makes Thailand the most cost-effective option in this region.

According to reports, the global medical tourism market is projected to grow from $29.26 billion in 2024 to $137.71 billion by 2032, at a CAGR of 21.4%. So, unsurprisingly, hospitals are doing everything to ensure foreign patients turn to them as their first, last, and only option. 

In the pre-pandemic period, medical tourists spent $600 million in Thailand, according to the World Travel and Tourism Council. Even basic testing procedures such as MRIs are cheaper. An MRI scan in the US costs $2,611 on average, while it is priced between $250-1,100 in Thailand. In Singapore, it costs upwards of $1,200.