Local healthcare spending among fastest in Asean

BMI forecast that Malaysia’s health expenditure will grow by a 2023-2028 compound annual growth rate of 8.3%.

PETALING JAYA: Malaysia’s medium-term health expenditure growth will be among the fastest in Asean but it will face tough competition from Thailand and Singapore in attracting medical tourists, says BMI in a report.

“We continue to have a positive outlook for Malaysia’s health expenditure growth, with our view supported by double-digit increases in the government’s healthcare budget in 2023 and 2024 alongside continued advancements in the private sector,” BMI, a unit of Fitch Solutions, said.