The study focuses on growth opportunities in 5 major ‘production sectors’ which are already of prime importance to the Greek economy and on 8 ‘rising stars’, i. e. new sectors where present activity is still small but where significant potential can be expected. In this post, I will focus on the ‘rising star’ of medical tourism (page 64 in the GTYA-report).
Rising Star —Medical Tourism
Medical tourism has been a fast growing industry internationally in the last 15 years, seperated into the outpatient segment (e. g. dental care, cosmetic procedures, etc.) and the inpatient segment (e. g. cardiovascular interventions, orthopedic procedures, etc.).
Potential is seen for Greece in the rapidly growing ‘middle-market’. Greece presently does not have much to offer because only one inpatient facility is accredited by the Joint Committee International compared with 43 in Turkey and 21 in Italy. At the same time, Greek hospitals lack collaborative agreements with leading international medical institutions.
GTYA identifies 5 levers which would enable the local industry to participate in this growth opportunity. It should be noted that there would be cross-benefits with the tourism strategy.
* develop a national strategy to position Greece in the ‘middle-market’ with a specific product/market focus
* establish modern quality, assurance, licencing and control frameworks
* pursue and maintain offer specialization to reduce costs through scale
* leverage networks to attract inbound volumes
* compliment the offer with necessary auxiliary services
For details, please refer to the GTYA-report.