Opportunity recognition for small businesses in medical tourism in Taiwan

Abstract

Medical tourism has become an investment focus for many Asian countries. For example, India, Singapore, Thailand, South Korea, and Malaysia have governmental projects to foster this emerging industry, and successfully attract millions of medical tourists each year. Medical tourism consists of diverse industries that can provide abundant opportunities of new businesses. Currently Taiwan is trying to catch up in this trend by making national development policies, setting up institutions, modifying laws and regulations, and encouraging investment of private sector. The purpose of this study is to analyze the status quo of international medical tourism in Taiwan, and identify several opportunities for small businesses to catch and to participate in forming a solid medical tourism industry for Taiwan.