As more Americans look for alternatives to costly cosmetic procedures during the economic recession, many medical tourism companies and overseas cosmetic surgery providers are dropping their rates and fees to capture the market.
Medical tourism has taken a hit during the economic slump as fewer Americans jump onto the plane for a cosmetic surgery retreat. However, medical tourism still offers some of the most affordable treatment packages for otherwise costly procedures; tummy tucks, facelifts and liposuction procedures that can cost upwards of $10,000 in the United States are priced under $2,000 in some countries in Asia and South America. Now, the tourism board of Malaysia is working hard to tap into the medical tourism market to position Malaysia as a top medical tourism destination.
The medical tourism agency Perfect Enhancement Sdn Bhd (PESB) points out that Malaysia is one of the most affordable countries to have cosmetic surgery from licensed and experienced surgeons. The Asian market continues to attract many medical tourists, and extensive surgery such as breast implants and tummy tucks are priced at a fraction of prices in the United States, United Kingdom and Canada.
In Malaysia, the medical tourism trend is going strong but competing for travelers who are heading to Thailand, the Philippines or India for their cosmetic surgery procedure.
While demand for medical tourism packages is expected to decline significantly in 2009 as more patients delay their surgery, it is expected to pick up shortly after the economy picks up in early 2010. According to a recent press release published in pbtimes.com, the PESB is hoping to capture 10 per cent of the cosmetic surgery market in the next five years, and will be looking for new ways to promote several of the leading plastic surgery and medical facilities in Malaysia in order to achieve its long-term goals.