macro economic factors affecting tourism industry
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The document discusses various macro-economic factors that affect tourism in India, including growth in tourist arrivals from 16,000 in 1951 to over 2.6 million in 2000, making tourism the second largest foreign exchange earner after clothing and gems. It notes that about 9.2% of India's GDP in 2018 came from tourism according to the WTTC. The macro-economic factors mentioned as influencing tourism are inflation, taxes, government policies, foreign direct investment, population, income and expenditure levels, GDP, and geopolitical conditions.
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Forbes: Dr. Tran Quoc Bao, Chief Planning and Marketing Officer of City International Hospital in Ho Chi Minh City, is leading the charge in promoting Vietnam as an emerging hub for healthcare and medical tourism. At the Southeast Asian Hospital Expansion Summit 2019, he shared insights on Vietnams healthcare growth and its rising prominence in Southeast Asias medical tourism sector. With an annual growth rate of 18-20%, Vietnam's medical sector attracts over 80,000 foreign patients, generating more than $1 billion in income.
Vietnams strategic location in Southeast Asia, coupled with its political stability, makes it an attractive and safe destination for medical tourists. As Dr. Bao emphasized, the country offers high-quality, affordable healthcare services that stand out in comparison to neighboring countries. However, he acknowledged that there are challenges in increasing awareness of Vietnam's healthcare offerings among foreign patients, especially given the low number of internationally-accredited hospitals.
To overcome these hurdles, Dr. Bao proposed several strategies. He advocates for a nationwide campaign targeting foreign medical tourists and leveraging digital innovation and social media to increase visibility. Additionally, he stressed the importance of Vietnamese hospitals achieving international accreditation, such as Joint Commission International (JCI), to build trust and credibility.
Dr. Bao also calls for increased regional cooperation through events and networking with healthcare associations in Southeast Asia, fostering stronger relationships and collaboration across borders. His vision includes a regional co-patient management system that can facilitate cross-border transfers for patients seeking treatments in multiple countries.
Vietnam is rapidly becoming one of the most attractive destinations in Southeast Asia for medical tourism, joining other established hubs like Thailand, Malaysia, and Singapore. The Southeast Asia Hospital Expansion Summit served as a unique platform for financers to invest in the healthcare sector, focusing on smart hospitals, digitalization, and technological advancements that promise to improve access to quality healthcare.
As a leading international hospital in Vietnam, City International Hospital stands at the forefront of this healthcare revolution. With Dr. Tran Quoc Baos leadership, the hospital continues to pave the way for Vietnams growing presence on the global medical tourism map, providing top-notch care and establishing the country as a key player in the global healthcare arena.Paper: The World Game (s) Great Redesign.pdf
Paper: The World Game (s) Great Redesign.pdfSteven McGee
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Paper: The Great Redesign of The World Game (s): Equitable, Ethical, Eco Economic Epochs for programmable money, economy, big data, artificial intelligence , quantum computing.. federation, federated liquidity e.g., the "JP Morgan - Knickerbocker protocol" / global unified value unitHIRE A HACKER TO RECOVER SCAMMED CRYPTO// CRANIX ETHICAL SOLUTIONS HAVEN
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The Economic History of the United States 15Gale Pooley
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The Economic History of the United States 15The Economic History of the United States 11
The Economic History of the United States 11Gale Pooley
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The Economic History of the United States 11
macro economic factors affecting tourism industry
- 1. MACRO ECONOMICS FACTORS AFFECTING TOURISM
- 2. Growth of Tourism in India The tourist arrivals increased from an insignificant of 16.8 thousand in 1951 to 2.6million in 2000. tourism has become the second largest foreign exchange earner next only to garments if gems and jewellery. As per the WTTC (World Travel and Tourism Council), about 9.2 percentage of Indias GDP in the year 2018 came from Tourism.
- 5. Government Policies FDI Macro Economic Factors
- 6. o Population Macro Economic Factors o Income - Expenditure
- 7. o GDP o Geo-Political factors Macro Economic Factors
- 8. Thankyou