Jet-setting businessmen may once have had breakfast in London, lunch in Paris and a (very late) dinner in New York. In today’s world, however, it could be healthcare that’s prompting people to cash in on their airmiles. According to a new report, they’re flocking to Thailand, which is fast emerging as one of the world’s hotspots for medical tourism.

That’s a buzzphrase created by travel agencies and mass media to describe the fast-growing trend of people traveling to another country to obtain health care.

Wikipedia says the phrases ‘global healthcare’, ‘medical’ or ‘health tourism’ maybe newfangled constructs – the practice itself, though, isn’t. Thousands of years ago Greek pilgrims travelled from all over the Mediterranean seeking the healing god Asclepius in Epidauria.

Now they’re simply heading to Thailand, which the report says, attracts over a million annual tourist visitors each year. In fact, support from both the Thai Government and private sector has seen the flow of medical tourists increase at a Compound Annual Growth Rate (CAGR) of nearly 16%.

Why Thailand? Apart from a well-positioned geographical location, Thailand has acquired an international reputation for its health care system. While the quality of care in the country is unquestioned, there’s a considerable cost advantage to be obtained. In addition, patients are offered a complete package of treatment and rejuvenation, and importantly, the country has a wide range of natural and cultural heritage attractions to offer. Strong marketing campaigns and rising personal disposable income, have also played their part, says the study.

In fact, the rapidly growing industry is attracting an increasing number of global hospital chains which are planning to increase their presence in Thailand. The country is particularly known for cardiac surgery, cosmetic and reconstructive surgery, tropical and infectious diseases, dentistry, and pharmacology.

Further Reading: Opportunities in Thailand Tourism Industry (2007-2009)