July 3, 2015, 11:39 pm
Facebook iconTwitter iconYouTube iconGoogle+ icon
1 Philippine Peso = 0.08156 UAE Dirham
1 Philippine Peso = 2.79593 Albanian Lek
1 Philippine Peso = 0.03975 Neth Antilles Guilder
1 Philippine Peso = 0.20197 Argentine Peso
1 Philippine Peso = 0.02879 Australian Dollar
1 Philippine Peso = 0.03975 Aruba Florin
1 Philippine Peso = 0.04441 Barbados Dollar
1 Philippine Peso = 1.735 Bangladesh Taka
1 Philippine Peso = 0.03899 Bulgarian Lev
1 Philippine Peso = 0.00838 Bahraini Dinar
1 Philippine Peso = 35.00611 Burundi Franc
1 Philippine Peso = 0.0222 Bermuda Dollar
1 Philippine Peso = 0.02991 Brunei Dollar
1 Philippine Peso = 0.15299 Bolivian Boliviano
1 Philippine Peso = 0.06907 Brazilian Real
1 Philippine Peso = 0.0222 Bahamian Dollar
1 Philippine Peso = 1.41401 Bhutan Ngultrum
1 Philippine Peso = 0.22092 Botswana Pula
1 Philippine Peso = 339.95781 Belarus Ruble
1 Philippine Peso = 0.04474 Belize Dollar
1 Philippine Peso = 0.02773 Canadian Dollar
1 Philippine Peso = 0.02075 Swiss Franc
1 Philippine Peso = 14.18441 Chilean Peso
1 Philippine Peso = 0.13784 Chinese Yuan
1 Philippine Peso = 57.83813 Colombian Peso
1 Philippine Peso = 11.85078 Costa Rica Colon
1 Philippine Peso = 0.0222 Cuban Peso
1 Philippine Peso = 2.19907 Cape Verde Escudo
1 Philippine Peso = 0.54337 Czech Koruna
1 Philippine Peso = 3.93205 Djibouti Franc
1 Philippine Peso = 0.1487 Danish Krone
1 Philippine Peso = 0.997 Dominican Peso
1 Philippine Peso = 2.1994 Algerian Dinar
1 Philippine Peso = 0.31189 Estonian Kroon
1 Philippine Peso = 0.16967 Egyptian Pound
1 Philippine Peso = 0.45895 Ethiopian Birr
1 Philippine Peso = 0.01993 Euro
1 Philippine Peso = 0.04652 Fiji Dollar
1 Philippine Peso = 0.01417 Falkland Islands Pound
1 Philippine Peso = 0.01414 British Pound
1 Philippine Peso = 0.09682 Ghanaian Cedi
1 Philippine Peso = 0.87488 Gambian Dalasi
1 Philippine Peso = 168.8298 Guinea Franc
1 Philippine Peso = 0.16935 Guatemala Quetzal
1 Philippine Peso = 4.60109 Guyana Dollar
1 Philippine Peso = 0.17214 Hong Kong Dollar
1 Philippine Peso = 0.4864 Honduras Lempira
1 Philippine Peso = 0.15131 Croatian Kuna
1 Philippine Peso = 1.13698 Haiti Gourde
1 Philippine Peso = 6.28167 Hungarian Forint
1 Philippine Peso = 296.33618 Indonesian Rupiah
1 Philippine Peso = 0.08378 Israeli Shekel
1 Philippine Peso = 1.41381 Indian Rupee
1 Philippine Peso = 26.4572 Iraqi Dinar
1 Philippine Peso = 651.02698 Iran Rial
1 Philippine Peso = 2.93583 Iceland Krona
1 Philippine Peso = 2.59055 Jamaican Dollar
1 Philippine Peso = 0.01574 Jordanian Dinar
1 Philippine Peso = 2.72109 Japanese Yen
1 Philippine Peso = 2.20813 Kenyan Shilling
1 Philippine Peso = 1.37846 Kyrgyzstan Som
1 Philippine Peso = 91.28345 Cambodia Riel
1 Philippine Peso = 9.8115 Comoros Franc
1 Philippine Peso = 19.98446 North Korean Won
1 Philippine Peso = 24.85067 Korean Won
1 Philippine Peso = 0.00672 Kuwaiti Dinar
1 Philippine Peso = 0.01821 Cayman Islands Dollar
1 Philippine Peso = 4.13501 Kazakhstan Tenge
1 Philippine Peso = 180.13656 Lao Kip
1 Philippine Peso = 33.51837 Lebanese Pound
1 Philippine Peso = 2.98501 Sri Lanka Rupee
1 Philippine Peso = 1.87987 Liberian Dollar
1 Philippine Peso = 0.26996 Lesotho Loti
1 Philippine Peso = 0.0677 Lithuanian Lita
1 Philippine Peso = 0.01378 Latvian Lat
1 Philippine Peso = 0.03049 Libyan Dinar
1 Philippine Peso = 0.21581 Moroccan Dirham
1 Philippine Peso = 0.42095 Moldovan Leu
1 Philippine Peso = 1.23038 Macedonian Denar
1 Philippine Peso = 24.82514 Myanmar Kyat
1 Philippine Peso = 43.33296 Mongolian Tugrik
1 Philippine Peso = 0.1773 Macau Pataca
1 Philippine Peso = 7.26102 Mauritania Ougulya
1 Philippine Peso = 0.77606 Mauritius Rupee
1 Philippine Peso = 0.34218 Maldives Rufiyaa
1 Philippine Peso = 9.83602 Malawi Kwacha
1 Philippine Peso = 0.34955 Mexican Peso
1 Philippine Peso = 0.08306 Malaysian Ringgit
1 Philippine Peso = 0.26996 Namibian Dollar
1 Philippine Peso = 4.4199 Nigerian Naira
1 Philippine Peso = 0.60516 Nicaragua Cordoba
1 Philippine Peso = 0.17436 Norwegian Krone
1 Philippine Peso = 2.26242 Nepalese Rupee
1 Philippine Peso = 0.03273 New Zealand Dollar
1 Philippine Peso = 0.00855 Omani Rial
1 Philippine Peso = 0.0222 Panama Balboa
1 Philippine Peso = 0.0706 Peruvian Nuevo Sol
1 Philippine Peso = 0.06078 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.25991 Pakistani Rupee
1 Philippine Peso = 0.08356 Polish Zloty
1 Philippine Peso = 115.11047 Paraguayan Guarani
1 Philippine Peso = 0.08095 Qatar Rial
1 Philippine Peso = 0.0892 Romanian New Leu
1 Philippine Peso = 1.22998 Russian Rouble
1 Philippine Peso = 16.05418 Rwanda Franc
1 Philippine Peso = 0.08328 Saudi Arabian Riyal
1 Philippine Peso = 0.17554 Solomon Islands Dollar
1 Philippine Peso = 0.30063 Seychelles Rupee
1 Philippine Peso = 0.13267 Sudanese Pound
1 Philippine Peso = 0.18423 Swedish Krona
1 Philippine Peso = 0.02988 Singapore Dollar
1 Philippine Peso = 0.01412 St Helena Pound
1 Philippine Peso = 0.49308 Slovak Koruna
1 Philippine Peso = 94.59309 Sierra Leone Leone
1 Philippine Peso = 15.35361 Somali Shilling
1 Philippine Peso = 488.58665 Sao Tome Dobra
1 Philippine Peso = 0.19407 El Salvador Colon
1 Philippine Peso = 4.19278 Syrian Pound
1 Philippine Peso = 0.26996 Swaziland Lilageni
1 Philippine Peso = 0.75008 Thai Baht
1 Philippine Peso = 0.0433 Tunisian Dinar
1 Philippine Peso = 0.04611 Tonga Pa'ang
1 Philippine Peso = 0.05949 Turkish Lira
1 Philippine Peso = 0.14106 Trinidad Tobago Dollar
1 Philippine Peso = 0.68596 Taiwan Dollar
1 Philippine Peso = 44.49095 Tanzanian Shilling
1 Philippine Peso = 0.46653 Ukraine Hryvnia
1 Philippine Peso = 73.34296 Ugandan Shilling
1 Philippine Peso = 0.0222 United States Dollar
1 Philippine Peso = 0.60109 Uruguayan New Peso
1 Philippine Peso = 56.74698 Uzbekistan Sum
1 Philippine Peso = 0.141 Venezuelan Bolivar
1 Philippine Peso = 484.94504 Vietnam Dong
1 Philippine Peso = 2.41434 Vanuatu Vatu
1 Philippine Peso = 0.05662 Samoa Tala
1 Philippine Peso = 13.08199 CFA Franc (BEAC)
1 Philippine Peso = 0.05995 East Caribbean Dollar
1 Philippine Peso = 13.08199 CFA Franc (BCEAO)
1 Philippine Peso = 2.37988 Pacific Franc
1 Philippine Peso = 4.77162 Yemen Riyal
1 Philippine Peso = 0.27013 South African Rand
1 Philippine Peso = 115.2326 Zambian Kwacha
1 Philippine Peso = 8.03597 Zimbabwe dollar

Pop culture, wealthy Chinese spur medical tourism in Asia

SEOUL - It is one of Asia’s fastest growing industries and shows no signs of losing steam even as the global economy wobbles.
 
Traveling abroad for medical treatment is now a multi-billion dollar business.
 
From a nip-and-tuck to a heart bypass, hospitals from India to Singapore and South Korea treat more than 1 million foreign patients a year -- lured by cut-price surgery, no waiting lists, cutting-edge technology, and highly trained doctors.
 
Industry experts predict medical tourism in Asia will grow at a rate of 15 to 20 percent a year, mainly due to the emergence of nouveaux riches in the region.
 
“Asian medical tourism ... seems to be increasing as affluence and mobility increase in Asia,” said David Vequist, head of the Center for Medical Tourism Research at the University of the Incarnate Word in Texas.
 
“Consumer choice is a powerful force now in healthcare and is impacted by ageing and increasingly heavier, sicker, and more needy populations in Asia.”
 
Medscape News web site has forecast medical tourism in Asia could generate $4.4 billion by 2014.
 
The United States provides the most patients, as Americans travel abroad to avert the astronomical costs of having private treatment at home. Typically, Americans can save 40-50 percent.
 
But there is a new patient on the operating table, and he or she is Chinese. Many of these patients are willing to spend what it takes to fix their problem.
 
“No matter how expensive it is, I will go for it,” says Liu Xiao-yang, 34, of Shanghai, after having double-eyelid surgery, a facelift and corrective jaw surgery in Seoul.
 
KOREA WAVE
 
The rise of an affluent class in China, and an infatuation with so-called Hallyu, or Korean Wave, culture from pop music to drama have spurred a sharp growth in South Korean medical tourism, mainly in the field of cosmetic surgery.
 
“Every time I watch South Korean drama and TV shows, I feel that they are pretty and I want to look like them,” says Liu.
 
Kim Byung-gun, a plastic surgeon at the BK DongYang Plastic Surgery Clinic in Seoul, says his patients have ranged in age from 6, for double-eyelid procedure, to a 70-year-old seeking a skin lift. On average, they spend $5,000-$10,000 per procedure.
 
“Medical tourism is going to be one of the growth engines of the South Korean economy,” Kim says, identifying the Korean Wave as a key contributor to the rapid growth of the sector in Asia’s fourth largest economy.
 
South Korean authorities have every reason to be optimistic about the growth of the industry, particularly in the field of elective cosmetic surgery.
 
CLSA Asia-Pacific Markets in a study released last month estimated that China would account for 60 percent of the rise in high net-worth individuals’ wealth in Asia over the next five years.
 
Chinese patients arrive in South Korea with photographs of Korean celebrities they want to look like, says Lee Soo-jung of the Lamar Plastic Surgery Clinic in Seoul.
 
Han Dong-woo of the Korea Health Industry Development Institute says the number of tourists coming to South Korea ballooned last year to nearly 82,000, generating about $700 million in revenues.
 
Three years earlier, fewer than 8,000 medical tourists traveled to South Korea. Han projects some 200,000 will come next year. By 2020, the South Korean government envisages a million medical tourists a year.
 
“I see an infinite growth potential in the plastic surgery market for foreigners,” says Han, who estimates operation costs in South Korea are about half that of the United States.
 
INDIA, SOUTHEAST ASIA
 
South Korea may be one of the fastest growing medical tourism destinations, but for now it lags far behind trailblazers Thailand, Singapore, India, Malaysia and even the Philippines.
 
They all have their own distinctive marketing strategies in an attempt to woo clients, as well as areas of specialization. Thailand and India, Asia’s leading destinations, specialize in orthopaedic and cardiac surgery.
 
India’s government says its medical services are cheaper than those in southeast Asia, and identifies its English-speaking doctors as providing a “major comfort factor”.
 
It has even introduced a special visa category to cater for the growing number of medical tourists.
 
Thailand sells itself as dual purpose destination where medical treatment can be combined with a cheap recuperative holiday. Bangkok was this year identified by TripIndex as the best value global city for U.S. travellers.
 
The Singapore healthcare industry positions itself as a “premium” centre. Among its patrons have been many of Malaysia’s sultans, as well as other high profile political figures and celebrities from Asia and the Middle East.
 
By next year, Singapore aims to treat a million foreign patients a year, generating about $3 billion for the economy, the Singapore Straits Times has reported.
 
Its area of expertise includes cancer treatments, cardiology and other specialised care. Like South Korea, it sees China, as well as India, as being the catalysts for growth.
 
Neighboring Malaysia, attracted nearly 400,000 medical tourists last year, and aims to increase that number to 1.9 million by 2020, mainly by way of undercutting Singapore.
 
A health official said costs in Malaysia are 30 percent cheaper than the city-state to the south.
 
The Philippines also sees itself as a cut-price destination, and is projecting the number of medical tourists to hit one million by 2015, generating at least $1 billion in revenue.
 
It targets patients from the United States, Canada, Taiwan and Japan.
 
“We can compete with the rest of Asia because we have an edge in providing high quality medical and dental services but at a much lower cost,” said Marie Recarro, an official at the Department of Tourism in Manila.
 
RISKS AND DOWNSIDES
 
Some experts, however, lament the rise of the medical tourism industry, saying it exacerbates a brain drain of talent from the state to the private system, from rural to urban areas.
 
A paper published in the International Journal for Equity in Health last year said specialists were being swayed by the higher wages and better technology of the private sector.
 
If the industry achieved even a fraction of its projected growth “this could ultimately lead to locals being priced out of their own health care system, as demand from foreign patients can drive up the costs of providing care for everyone”, it said.
 
Experts cite other concerns such as medical errors, lax follow-up care, and insurance, regulatory and ethical issues.
 
The World Health Organisation said in a report late last year that rapid development of medical tourism had presented “considerable implications for public health”.
 
It said that with the influx of foreign patients, the demand for and price of healthcare might rise. “In addition, an increasing number of health services might cater for the needs of foreign patients and neglect local needs,” it said.
Category: 
Rating: 
No votes yet

Column of the Day

Ombudsman Morales gives substance to public official’s accountability

By ELLEN TORDESILLAS | July 03,2015
0 View(s) 0 Comment(s)
‘But then, it’s good that Purisima pushed his luck too far. The damage to the Filipino people was lessened by a few million pesos.’

Opinion of the Day

PH illicit cigarette trade downplayed

By AMADO P. MACASAET | July 03, 2015
0 View(s) 0 Comment(s)
‘Regulators refused to find out capacity utilization compared to volume declared to the BIR.’