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Economic Impact of Medical Tourism

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Medical Tourism

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The process of traveling outside one's country of residence to receive medical care. Economic implications include contributions to the destination country's GDP, employment opportunities, and increased demand for auxiliary services.

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Healthcare Travel

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A synonym for medical tourism focusing on the travel aspect for the purpose of obtaining healthcare services abroad. Economically, this stimulates the travel industry and leads to sectoral growth within the destination country.

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Medical Outsourcing

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Refers to the practice of seeking medical services outside one's country, often to take advantage of cost efficiencies. Economic implications include cost savings for patients and revenue generation for providers.

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Healthcare Expenditure Leakage

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The portion of revenue generated by medical tourism that eventually leaves the country's economy, often back to the tourists' home country. Implications include the loss of potential domestic economic growth.

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Inbound Medical Tourism

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Refers to patients coming into a country for medical treatment. Economic implications include foreign exchange earnings and a boost to the healthcare and tourism sectors of the host country.

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Outbound Medical Tourism

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Pertains to residents of a country traveling abroad to receive medical care. Economically, it entails an outflow of capital from the home country and a missed opportunity to invest in domestic healthcare services.

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Domestic Medical Tourism

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The trend of patients traveling within their own country to receive medical care, typically to access higher quality or specialized services. Economically, this contributes to internal revenue circulation and supports local economies.

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Cross-Border Healthcare

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Medical treatment sought by patients by traveling across national borders. Economic implications can be complex, affecting health insurance, care quality competition, as well as the balance of healthcare services provided and consumed.

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