Nov 2, 2023
The Growth of Medical Tourism in the City and the Real Estate Developments Aimed at Accommodating Medical Travelers
What is medical tourism and healthcare tourism?
Medical tourism refers to traveling from one country to another to receive high-quality medical services. This type of tourism is common in various medical fields, such as cosmetic surgery, hair transplantation, rejuvenation, and others, which are basically considered non-essential medical services. On the other hand, healthcare tourism refers to people traveling to receive necessary medical services and treatments for their health conditions, which may not be available in their own countries.
What are the reasons that motivate people to engage in medical tourism?
● Seeking high quality healthcare.
● Cost savings, sometimes treatment costs are much cheaper in certain countries.
● Obtaining medical services quickly.
Healthcare Tourism in Riyadh:
Riyadh is a renowned destination for healthcare tourism. The Kingdom aims to be at the forefront of countries that attract people from around the world for medical tourism purposes. This is evident through the progressive plans aimed at improving real estate investments for healthcare tourism, besides promoting the growth of medical tourism and healthcare tourism in Riyadh, and throughout the Kingdom of Saudi Arabia as a whole.
A wide range of healthcare hospitality centers and healthcare real estate are available in Riyadh, such as high-quality medical facilities that provide specialized medical services in various fields. The healthcare sector in Riyadh is characterized by modern medical hosting facilities, in addition to advanced health technologies, along with a specialized medical staff.
The Growth of Medical Tourism in Riyadh and Saudi Arabia:
The Kingdom aims to diversify its sources of national income, establishing its economy on multiple pillars. This has placed healthcare tourism at the forefront of its choices. Due to the Kingdom's significant advancements in the field of medical tourism, efforts are being made to encourage both local and foreign investors to capitalize in the healthcare sector by constructing hospitals and large healthcare centers equipped with state-of-the-art facilities, and finest medical staff from Arab and foreign nationalities. The healthcare sector in the Kingdom is the largest compared to other healthcare sectors in the Middle Eastern countries, with healthcare spending exceeding 150 billion Saudi Riyals, equivalent to 40 billion US dollars. Additionally, the Ministry has announced about 19 health projects, some of which have been completed, while others are still under construction.
Examples of Medical Facilities in Riyadh and Saudi Arabia:
● King Faisal Specialist Hospital: It is considered one of the best hospitals for medical travelers in the Kingdom. It ranks 76th among the top hospitals in the world, in addition to the free treatment it provides. This hospital is known for organ transplantation, cancer treatment, heart diseases, as well as genetic and neurological disorders.
● King Fahad Medical City: King Fahad Medical City is an integrated medical town that significantly contributes to the medical tourism growth in Riyadh. It serves as a role model for the development of real estate for medical tourism. It is one of the largest medical hospitality projects in the Kingdom and one of the largest medical complexes in the Middle East, representing the rapid advancements of Riyadh healthcare developments. Its ranking stands at 3140 worldwide.
The medical city comprises four hospitals: the general hospital, the specialized Gynecology hospital, obstetrics hospital and children's hospital. It has a capacity of approximately 1,200 beds. Annually, the medical city receives over 30,000 inpatient admissions and 500,000 outpatients. It also includes four medical centers: Diabetes Center, King Salman Center for Heart Diseases and Surgery, Oncology and Endocrine Center, and Neurosciences Center.
● Sulaiman Al Habib Hospital: It is one of the hospitals that support medical tourism in Riyadh and contribute to the growth of medical tourism. It is globally ranked at 5569, and it is one of the private hospitals in Riyadh. This medical group consists of several health centers, spread across three countries: Bahrain, the United Arab Emirates, and Saudi Arabia. The hospital is known for its highly skilled medical staff and medical tourism infrastructure, including modern equipment and advanced technological devices, making it the best in supporting medical tourism in Riyadh.
● Kingdom Hospital: It is one of the largest medical facilities in Riyadh, providing specialized medical services in various fields.
● Al-Mana Hospital: It is a leading center in the field of cosmetic treatment and surgery.
● Al Habib Medical Hospital: It is a specialized hospital in the treatment and surgery of eye diseases.
Developing Real Estate for Hosting Patients in Riyadh:
Developing real estate for patient accommodation in Riyadh is a promising and in-demand field in the current market. There is an increasing need to secure properties for patients in order to provide comfortable and suitable accommodation for those receiving treatments in hospitals and medical centers in Riyadh.
steps to be followed to develop real estates related to this purpose:
● Find a suitable location: It is important to choose a location close to medical centers and important facilities.
● Market analysis: Conduct a deep market analysis to identify the needs and potential competition in the area.
● Design and development of the building: Work with engineers and designers to develop healthcare properties that meet the patients' needs. This includes designing safe and comfortable rooms with essential amenities, such as comfortable beds and private bathrooms.
● Provide essential services: Such as seating areas, dining facilities, elevators, and internet access.
● Adhere to health and safety standards: It is important to comply with health standards to ensure patient safety. There must be regular monitoring and maintenance of the property in order to avoid any potential health or safety problems in the building.
● Offers and promotion: After completing the development of medical properties, it is necessary to promote them and make offers to medical institutions that are seeking properties for their visiting patients or providing accommodation for patients in general, in order to offer comfortable lodging for treatment in Riyadh.
Patient accommodation services in the properties can include the following:
● Rooms equipped with all necessary facilities and amenities for patients.
● Medical treatment facilities, such as physiotherapy rooms and examination rooms.
● Kitchens and restaurants that provide healthy meals for patients according to their special dietary needs.
● Entertainment and leisure centers.
● Medical transportation services.
● Specialized medical and nursing teams.
Developing real estate can be an opportunity to enhance the healthcare sector and promote Riyadh medical tourism, attracting patients from various regions to seek treatment. This, in turn, supports the local economy and promotes economic development.
Medical tourism is considered one of the most promising sectors in the Kingdom of Saudi Arabia. Due to its importance, the Saudi government has directed its attention towards expanding, developing, and investing in medical tourism to make it a key pillar for the KSA's economic growth.
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