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KMID : 1235020230170020021
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Health Service Management Review
2023 Volume.17 No. 2 p.21 ~ p.33
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The Economic Effects of the Business of Foreign Patients
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Hong Hyeon-Ah
Cho Hyun-Seung
Lee Dong-Hee
Lee Haeng-Shin
Kim Yang-Kyun
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Abstract
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In Korea, the business of attracting foreign patients has grown rapidly since the revision of the Medical Act in 2009 that allowed the act of attracting foreign patients by law. As As the number of foreign patients visiting Korea increased, interest in the economic effect of medical tourism also increased. However, existing studies regarding medical tourism tend to analyze the economic effects of foreign patient attraction projects only for limited industries, thus underestimate the economic effects. This study analyzed economics effect of medical tourism utilizing Input-Output analysis.
As a result, the amount of production and value-added from medical tourism in Korea in 2021 was about 946.3 billion won and 437.3 billion won, respectively, which is estimated to be the same effect as the production of 14,602 medium-sized cars or 630,000 smartphones.
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KEYWORD
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Economics effect, Medical tourism, Input-Output analysis, Multipliers
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