Health care spending in the GCC will grow at a compound annual growth rate of 4.9% from $86.2 billion in 2020 to $99.6 billion in 2023, with the UAE and Saudi Arabia accounting for about 80% of total spending, according to a white paper.
Dubai Healthcare City Authority (DHCA), the governing body of Dubai Healthcare City (DHCC), in a white paper titled Emerging Opportunities in Healthcare in the Middle East, highlights the need to refocus healthcare as a whole rather than a symptomatic issue Focusing on this further expands opportunities in the healthcare field of preventive medicine, especially as governments increasingly align with the World Health Organization’s approach.
The document highlights DHCC’s role as a key contributor to the emirate’s diversified economic growth, revealing that the free zones contributed AED2.8 billion (US$760 million) to Dubai’s GDP in 2021, a figure expected to reach 3.4 billion dirhams. It has emerged as a catalyst for the healthcare job market and it has now facilitated the creation of 15,760 jobs in Dubai.
Furthermore, the white paper acknowledges the recent regulatory reforms in Dubai’s healthcare sector aimed at improving efficiency, as well as the growing emphasis on public-private partnership projects, which Dubai Medical City is leading the way as a key driver of industry growth.
The research is the latest step in DHCA’s mission to contribute to the development of the healthcare industry towards Dubai’s goal of becoming one of the world’s top 10 healthcare destinations, highlighting the GCC and wider MENA healthcare landscape Developments over the past decade have illuminated opportunities for investors.
Commenting on the launch of the white paper, Salim Dahman, Director of Marketing and Communications, DHCA, said: “Since the establishment of DHCC in 2002, we have been committed to achieving Dubai’s goal of becoming a global leader in healthcare. To be able to meet the needs of the market, it is vital to understand its realities ; this white paper will help us meet the needs of our partners and the broader healthcare industry.”
Other key findings attest to the resilience of Dubai’s healthcare sector. Despite pandemic-related global travel restrictions, Dubai will double its number of wellness tourists in 2021, with international patients spending nearly $198 million in the year, research shows.
Healthcare investors looking for an ideal destination to do business can learn more about DHCC’s services at Arab Health 2023, Dubai Healthcare City, Booth C30 (Hall 6), held at the Dubai World Trade Center under the theme ” Innovation and Sustainability in Healthcare” January 30-February 2, 2023 — trade arab news agency