VISA Publishes Revised Report and Points to Need for Collaboration

Visa published its revised report: “Mapping the Future of Global Travel and Tourism.” The economic value of medical tourism is still a quandary as VISA opted to recite a website stat between USD $45.5 and $75 billion. Friday VISA stated it had no idea it was entering into what could be construed as a “combative” industry. How sad is that?

In an effort to be the first in the door to rebuke VISA’s report and kill the messenger, critics sent mass emails and social posts claiming Florence Nightingale purpose and Newton mathematical wisdom to convince VISA to recant. Since then, VISA declined to adopt the $50 billion figure that naysayers claimed was “industry consensus,” and replaced it with simply a website citation – one of many suppositions fueling ongoing industry diversion.

The fact is that the same questions remain outstanding. No definition of medical tourism has been adopted to substantiate the true value or size. “Industry consensus” does not exist. And, whether the industry is valued at $60 billion or $600 billion, we have a long way to go to levy the support of statisticians and stakeholders with access to the right data necessary to calculate it. We are currently working with destinations and universities to gather data based upon the Medical Tourism Index criteria which will help in creating greater consensus.

If we combat every organization, as these critics did to VISA, attempts to frame reference to our industry will assuredly never achieve any clarity or collaboration as they would rather steer clear.

 

Warm Regards,

Renée-MarieStephano, JD
President
Medical Tourism Association

 

 

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