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Plastic Surgery is Not Peanuts: Economic Growth and Dependency

In: Medical Tourism in Developing Countries

Author

Listed:
  • Milica Z. Bookman
  • Karla R. Bookman

Abstract

Medical tourism entails the splicing of two sectors, medicine and tourism. Both are service industries that face a high income elasticity of demand. Both are labor intensive and both rely heavily on the Internet to spread information. However, medicine is more high tech than tourism and has higher barriers to entry while tourism has higher price elasticity of demand. One is precise and involves rational decision making, and the other ephemeral, resting on imagination and the exotic and the transport into something outside of one’s own culture.1 Medical tourism thus walks on two legs. Each leg is necessary and neither is sufficient in the creation of a successful medical tourism sector. On their own, both tourism and medicine are high-growth industries in many parts of the world. This chapter argues that when spliced, their potential for growth is more than the sum of their parts.

Suggested Citation

  • Milica Z. Bookman & Karla R. Bookman, 2007. "Plastic Surgery is Not Peanuts: Economic Growth and Dependency," Palgrave Macmillan Books, in: Medical Tourism in Developing Countries, chapter 0, pages 21-39, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-60565-7_2
    DOI: 10.1057/9780230605657_2
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