A SWOT Analysis of Medical Tourism: India and South Korea

Abstract

Medical tourism is a fast growing trend in Asia, and both India and South Korea have been among the front runners in this industry. Several factors come into play when a country is contemplating about engaging in medical tourism as part of its strategies for economic growth. Government support and other areas such as infrastructure, competence of medical staff, the entrepreneurial drive of the middlemen facilitating the process, and the general reputation and political stability of the host country are among key influencing factors. This paper conducts a comparative SWOT (strength, weakness, opportunity, and threat) analysis in India and South Korea with the objective of understanding the various factors that can help or impede the growth of the medical tourism in both nations.

Keywords: Medical Tourism, SWOT, South Korea, India

JEL Classification: O19, N45, L83