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Putrajaya, March 9: Malaysia’s healthcare travel industry has garnered a whopping RM551 million in revenue based on hospital receipts which is six per cent above the targeted revenue goal for 2021.
This achievement was largely driven by the implementation of a stringently monitored Medical Travel Bubble, vigorous G2G and B2B engagements, 18 industry partnerships contributing to the volume of inbound patients, alongside continuous branding, and awareness initiatives to keep the international customer base informed on Malaysia’s commitment to being a safe and trusted healthcare destination.
Malaysia Healthcare Travel Council (MHTC) has also hosted annual events such as insigHT2021, the region’s medical travel market intelligence conference, in November and the Medical Travel Media Awards 2021 (MTMA2021) in December to honour members of media and influencers for their contribution to building awareness on the industry.
Currently in the Recovery Phase, this year’s initiatives will be focusing on laying a solid foundation for the Rebuild Phase, aiming to generate RM800 million in revenues through continuous efforts to elevate Malaysia’s position as a safe and trusted destination for healthcare.
Through these efforts, Malaysia Healthcare is expected to encourage increase in job creation, spillover effects boosting other economic sectors while also spurring new opportunities in nurturing a more future forward industry.
With the reopening of Malaysia’s borders on April 1, the recovery phase will witness cohesive effort by industry players and enable them to reverse the effects of the pandemic on the economy in a sustainable manner while staying ahead of competitors.
MHTC looks forward to fostering stronger public-private partnerships, which have been an undeniable success factor behind Malaysia Healthcare’s growth.
As the Malaysian government continues to invest in this industry, MHTC is partnering with key players from the public sector such as the Ministry of Tourism, Arts and Culture, Tourism Malaysia, the Immigration Department of Malaysia, Ministry of Finance, and Ministry of Health as well as the private sector such as healthcare, wellness, hospitality, tourism, transportation, and more, who have remained steadfast throughout in further growing the industry.
This year Malaysia Healthcare is expected to implement several key initiatives in catalysing further industry growth which includes the launch of a One Stop Portal for healthcare travel, raising Malaysia’s first Flagship Medical Tourism Hospitals, establishment of more strategic partnerships to attract more inbound healthcare travellers in a safe and calibrated manner, and creating pathways for Foreign Direct Investment by way of pharmaceutical research and development, medical innovations, and technological research, allowing for a special sandbox and facilitating opportunities in setting the future state of the healthcare industry.
The endorsement of Malaysia Healthcare’s 2022 strategies and initiatives was decided during MHTC’s Board of Director’s meeting which took place on Feb 18 and co-chaired by Khairy Jamaluddin, Minister of Health Malaysia and Datuk Seri Mustapa Mohamed Minister in Prime Minister’s Department, Economic Planning Unit (EPU).
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