Monday, January 10, 2011

Big business in sick oldies

If you go into an up-market private London hospital you are likely to see the signs for both English speakers and those from the Middle East.

As the numbers of wealth older people grow I suspect you see the size of the font on these signs increases in size.

AARP writes about the way that European countries are preparing for the surge in demand from wealthy older people. 

Germany is currently seen as one of the best destinations for medical tourism for the older consumer.

While Germany can't compete with the cheap procedures offered by countries such as India and Thailand, it does offer some of the most advanced treatments in the world. 

The German authorities estimate that 40% of patients are looking for advanced technology, while only 9% are trying to find lower costs. 

The boomers will... be a source market for the global tourism industry for several decades and will have the biggest impact when the latter part of the group retires around 2024."

Switzerland is another country that has started to cater to wealthy boomer patients, especially those from GCC states and Russia, reports The International Medical Travel Journal. 

Next year the country is planning to expand the luxury role of its medical facilities to accommodate both foreign patients and their families.

And so the story goes on. It looks to me like the wealth older person will select their medical treatment from the best of the European country’s private medical facilities. The next tier down in wealth will access the facilities in the old East Europe and Far East. The vast bulk of older people will be at the mercy of the over-stretched domestic services.

Clearly there is going to be a hell of good market in premier health services for the growing number of sick older people. Dick Stroud

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