Panama has been named the top destination in the world for medical tourism by NuWire Investor. Panama is an ideal place for Americans interested in having medical procedures done abroad for several reasons. While the average cost of care is higher in Panama than in countries such as Malaysia or India, the cost of travel between the United States and Panama is considerably less. Panama is a relatively Americanized nation, both in that its official currency is the dollar, and that there are many American expatriates currently living in Panama. In addition to this, Panama has a modern health care system within its major urban centers, with many physicians trained in the United States. These issues may comfort some Americans looking for care outside of the United States, and makes Panama an extremely appealing option as a medical tourism destination.
The medical tourism industry has been growing substantially over the past few years, and is expected to be a $100 billion industry by 2024. There is no doubt that such a large industry will have an impact on Panama’s economy, especially with such a large portion of the nations GDP generated within service industries. In addition to paying for the health care provided, patients receiving treatment outside of their home country are more likely to spend more time in recovery in preparation for the stress of travelling home, which in the case of Panama, equates to more dollars being spent within Panama. Assuming Panama continues to promote safe and modern hospitals and clinics, they will continue to be one of the top destinations for medical tourism.
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