ATEC forms industry panel to develop Health & Wellness Sector
ATEC Managing Director Matthew Hingerty says that with the ageing of Australia’s key tourism markets and domestic population, its entry into the rapidly-developing global “health tourism†market is critical for both the tourism and health sectors.
“A landmark report by Deloitte in this week’s The Economist has predicted that that outbound medical travel from the US alone will be worth US$162 billion by 2012,†Mr Hingerty said.
“This does not include ‘soft health’ travel such as spa treatments and health checks.†Mr Hingerty said that earlier this year KPMG demographer Bernard Salt presented ATEC with compelling evidence that Australia’s key tourism markets are ageing.
He said that a “bubble†of cashed-up baby boomers from the UK, US and even China would increasingly demand health services when they travel.
“It is critical that Australia understands and caters for these trends and, like other countries, we need to recognise that our ageing domestic population and narrowing tax base will place increasing strain on our health systemâ€, Mr Hingerty said.
“ATEC believes we can do an ‘education’ and build capacity into our private health system by tapping into export markets. Last year education became the primary reason for travel to Australia.â€
Mr Hingerty said Australian Governments had been slow to act on this developing trend to travel for health purposes. “Typically, New Zealand has stolen a march on us with their Government backing privatesector efforts to enter global travel markets. By contrast, Australian Governments of both shades have been slow to realise the potential benefits and implications,†Mr Hingerty said.
“We fear this will impact our health system, as cashed-up offshore health providers bid heavily for the services of our well-regarded medical practitioners.†Mr Hingerty said that ATEC’s Health and Wellness Tourism Panel had adopted a strategic framework to develop both the ‘soft’ wellness industry and the surgery-based medical tourism industry.
“Unfortunately, the efforts of the few visionary private investors in this area are being hampered by the millions of dollars of government support enjoyed by exporters in other countriesâ€, Mr Hingerty concluded.
For further information see ATEC’s Discussion Paper Destination: Health, at http//www.atec.net.au
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