C. K. Wang, chairman of Taiwan External Trade Development Council (TAITRA), recently announced plans to promote Taiwan's medical service to focus on drawing potential clients from the Middle East, Southeast Asia and China, aiming to help enhance revenue from such service to NT$15 billion (US$500 million) this year and to NT$20 billion (US$666.67 million) within three years.
In 2008 Taiwan offered medical services to global clients valued at only NT$1.9 billion (US$63.33 million), but as much as NT$3 billion (US$100 million) the next year thanks to the obvious rise in mainland Chinese clients flying directly to the island, which began the same year.
Seeing such potential business, TAITRA has encouraged domestic hospitals, medical centers, and healthcare institutions to jointly develop services targeting foreign clients. In 2001 the industry generated production value of NT$4 billion (US$13.33 million), which rose to NT$13 billion (US$433.33 million) in 2013.
Last year TAITRA helped set up international medical service centers at four international airports on the island, including Taipei, Taoyuan, Taichung and Kaohsiung, to offer inbound foreign tourists and transfer passengers medical services as physical checkup, plastic surgery, and even critical illness treatment.
Dubai-based Emirates, the largest airline in the Middle East, has recently inaugurated the first direct flight to Taiwan on Feb. 10. And four days later, TAITRA led a delegation to the Middle East to promote the idea of flying to Taiwan specially to avail of the island's medical services.
Currently the global market value of international medical care is around US$60 billion, of which Taiwan takes a mere 1% or about US$433 million. So there is ample untapped potential as Taiwan has advantages in advanced medical know-how and technology, relatively lower fees, and proximity to China relative to its neighboring counterparts like Singapore, Thailand and South Korea. (JL)
