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The Moscow News. Rising costs and long waits for quality healthcare are pushing millions of people each year into medical tourism

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Rising costs and long waits for quality healthcare are pushing millions of people each year into medical tourism.

In the developed world, healthcare forms a significant part of a country's economy. According to the U.S. Census Bureau, the annual revenue of that country's industry in 2012 was roughly $1.688 trillion. World Bank figures show that public health expenditures in the European Union could jump to 14 percent of GDP in 2030, from 8 percent in 2000.

By traveling in search of quality at a lower price, medical tourists seek alternatives to their own countries' healthcare offerings. Depending on the destination and treatment, a medical vacation can cost 50, 30 or even 10 percent of what patients would pay at home.

he number of wealthy Russians traveling abroad for treatment is making the trend especially noticeable.

"At the moment, there are roughly 200,000 Russians traveling for medical purposes each year, and they leave approximately $2.5 billion during their stays," said Alexei Kamenev, president of the First All-Russian Association of Private Medical Practitioners, in his opening speech at last week's Medical and Health Tourism Mart in Moscow.

The meeting is the first-ever direct sales platform set up in the global medical and health tourism industry.


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