The Turkish Trade Ministry is granting considerable financial incentives to local enterprises to boost medical and health tourism. Those who will profit from the message are given instructions on how to pay for specific expenses to increase international exchange-earning service gains and promote Turkey’s service industries’ international competitiveness.
Before you may take advantage of medical and health tourism benefits, you must first acquire a health tourism approval certificate. If constructed, preliminary diagnosis clinics in foreign nations can receive up to ten units of funding and a 60 percent rent amount for about 4 years. A four-year non-repayable award pays 60 percent of the cost.
A 50% non-refundable prize may be used to pay for participation in a conference as well as travel expenses for up to two representatives. For four years, half of the commissions paid to agents bringing in foreign healthcare patients from all over the world to Turkey were subsidized.
Non-refundable subsidies cover up to 60 percent of the charges for entering any international market, including economic and legal notices, and 60 percent of the expenses of consulting services for acquiring a foreign company. To help enterprises, organizations, and professionals acquire a competitive advantage in foreign markets, the Ministry of Trade gives a non-refundable grant of up to fifty percent for expenditures related to consulting services.
In this setting, the incentives offered by the Ministry of Trade are especially appealing. The annual growth in medical and health tourism is likely to be significant this year. Turkey plans to treat two million foreign visitors by 2023. According to the Turkish Statistical Institute (TÜK), 388,000 foreigners will visit Turkey for medical treatment in 2020, generating $550 million in revenue.
According to TUIK’s forecasts for 2021, 642,000 people (400,000 of whom are Europeans) and $1.05 billion in income are predicted. When unreported money is factored in, industry insiders estimate revenues to be between $2.5 and $3 billion. The most common reasons for foreign tourists to visit Turkey include cosmetic surgeries, hair plugs, heart surgery, dental care, orthopedics, cancer treatment, and IVF.