The Development of Medical Tourism in South Korea and Turkey: The Comparison of Economic Models

Abstract

The development of medical tourism has become a significant economic and social phenomenon in the last two decades, and the Republic of Korea and Turkey represent two distinct models of success in this field. The purpose of the study is to compare those two economies, focusing on the institutional strategies and economic mechanisms that have contributed to strengthening their position in the global medical tourism market. The research is based on a comparative approach, using documentary analysis, official statistical data and international reports on patient flows, investments and impact on gross domestic product. The results highlight that, while the Republic of Korea relies on technological innovation, high-quality medical services and digitalization, Turkey has developed a competitive model based on low costs, extensive infrastructure and regional accessibility. Both countries have managed to attract international patients through favorable government policies and massive investments in the medical sector, but the differences in strategy highlight the multidimensional nature of medical tourism. The research conclusions emphasize that the experience of South Korea and Turkey provides valuable examples of good practices in the development of medical tourism, using different but effective economic models. For the Republic of Moldova and Romania, these results can serve as a benchmark in the development of national policies aimed at diversifying medical services, improving infrastructure and promoting regional competitiveness. Integrating the positive elements of the South Korean and Turkish models could contribute to capitalizing on the existing potential and positioning these countries on the international medical tourism map. JEL: I15, I18, F2, L83, O5, P52