South University Online

Posts Tagged ‘Business’

You may be a very talented musician, but if you don’t know where to find work you will be broke. Knowing this, it may be time for you to keep up with the times so you know where to find work as an entertainer. Right now that location happens to be in South Florida. 

In fact, it is not just musicians that are thriving in this location. As of summer 2007 it is reported that opportunity knocks in this location for songwriters, public relations personnel, radio stations, videographers, models, makeup artists, recording studios, and artists.

Disc jockeys and MCs have found their way around Southern and Southwest Florida as well. Cities in this region where they have found employment include Fort Lauderdale, West Palm Beach, Miami Beach, and Hollywood. These places as well as other nearby locations may also be a great location for freelance workers as well. Those employed in writing, animation, and graphic arts might be just as successful here as people working in the music and media industries.

One of the reasons that so many entertainment opportunities are available in South Florida locations is because of the great schools that people attend in this location, and elsewhere in Florida. Some of the best Florida entertainment schools Miami Academy of Performing Arts, The Art Institute of Fort Lauderdale, and University of South Florida.

In addition to the great training provided in this location for both graduate and undergraduate students is the endless number of outlets offered to students who want to sharpen their skills. For instance, anyone who has some type of performing arts or entertainment degree might be employed as a singer in a family amusement park, disc jockey in a local cocktail lounge, or stage MC at a nearby theatre. Quite a few people also find work as a costume character at a place such as Disney World.

Names of companies through which entertainment jobs can be found include Busch Entertainment Corporation (i.e. at Sea World, Gaylord Entertainment, Roe Entertainment (for bar positions), and AMC Entertainment (theatre staff). Many other performing arts companies are also operating in the Florida and South Florida areas.

In addition to finding work in the entertainment fields it is also possible to find work as a supporting staff member. Openings are available for receptionists, cooks, spa workers, food prep workers, servers, and waitresses. Other opportunities are available to those who are looking for work in the janitorial industries.

In addition to all of the above, new entertainment industries are also springing up all over. For instance, more opportunities are available now in Florida for those who want to become eco-friendly makeup or costume artists. In fact, this industry is booming not only in Florida but several other major cities of the world. These products are very good for the body as well as the environment.

Hopefully this is great news for people who are wondering how to make a living in the entertainment during rough economic times. In fact, this is often refreshing news for people who are struggling to find work even during times when the economy is good. For those looking for employment, several online entertainment job resources are available.

 The Small Business Recession Plan “B”: How to Create the Six-Part Contingency Plan That Will Help You Guide Your Business Through the Storm

If you’re a small business owner, your list of worries seems never-ending. For starters, consumer confidence is down and your sales are starting to reflect that reality. And as experts predict a deep recession, it’s doubtful things will start looking up anytime soon. Yes, you’ve been wringing your hands and obsessing over the financial news for months, while simultaneously scrambling to keep your customers happy and your business strong. But action is the best antidote for agonizing—and now is the perfect time to create a recession contingency plan that will help you guide your business through any future rough patches.

Too often, when the economy goes south, a small business owner is paralyzed by anxiety and isn’t able to act quickly enough to save his or her company. Having a well conceived contingency plan in place gives you peace of mind when trouble hits and enables you to act quickly.

For small business owners, contingency planning is one of the best and most effective preventive actions you can take in a down economy.

Contingency planning will allow you to make the best possible decisions for your business if things continue to get worse before they get better. Even if you are an eternal optimist—after all, many of us entrepreneurs are—you’ll be wise to have a contingency plan in place if, say, one of your biggest clients succumbs to the bad economy, or if you have to face the difficult decision of whether or not to lay off an employee.
If you’re unsure where to start when it comes to crafting your contingency plan, here is an explanation of the critical elements you’ll want to include:

A People Plan. For small business owners, employees are often like family. That means the most difficult decisions you’ll have to make will probably pertain to them. That said, it’s important that you remain objective when creating the “People” section of your contingency plan:

1. What people assets are critical for you to keep? Why?

2. Who can “afford” a salary cut?

3. Who could undertake more responsibility?

4. Who are your definite keepers?

5. If you had to cut 10 percent of your workforce, what would your severance policy be?

6. How would you treat departing people so as to engender trust, respect, and loyalty of those remaining?

7. How would you implement a people “cut”?

By answering these questions truthfully and thoroughly, it will be much easier for you to make decisions concerning what to do with your workforce during the slow economy. Sometimes cutting back on your workforce, at least temporarily, is a necessary evil. Knowing that when you do so you are simply following a plan will help you manage some of the guilt that will come if you have to let someone go or reduce employee pay.

A Key Customer Plan. It’s likely that your customers are feeling just as much anxiety as you are right now, so it’s best to handle them with kid gloves. Fail to do so and you risk damaging a relationship that will not only help get you through these hard times but which could prove very profitable when things pick back up. Here are a few things to consider when developing the customer section of your contingency plan:

1. Who are your most profitable customers?

2. Who are the most loyal?

3. Who must you keep long-term at all costs?

4. How is the downturn affecting each of your customers?

5. How can you get closer to them?

6. Which customers have pressures of their own that will force them to ask you to cut prices? And how should you respond? Should you extend credit, put them on an agreed-upon payment plan, etc.?

7. What can you do to attract new customers?

You and your customers are in the same boat. They face the same struggles as you. In your dealings with them, it’s important that you strike a safe balance between managing their best interests and managing your own. The contingency plan will help you do that and help you make decisions that will allow you to strengthen your customer relationships now. When things pick back up, your customers will remember the way you treated them and will want to do even more business with you.

A Cost-Cutting Plan. When deciding where you could cut expenses, it’s important to consider what you could do to cut costs immediately by 10-15 percent. You should also go through your expenses line by line and consider which expenses are not necessary for your survival. Be sure to involve your employees when creating this section of the plan. Because they are on the front lines every day, they may have a better idea of what can be cut. For example, maybe they’ve noticed that you have an incoming paper supply that could be reduced. You should also include in your plan what to do if the amount you pay to lease office or warehouse space becomes unmanageable.

Naturally the decision to cut certain expenses will be easier to make than others. Just remember that now is the time to get back to the basics. You don’t need lots of bells and whistles to run a successful business, and taking a look at your expenses will help you separate the necessities from the frills.

A Cash Flow Plan. Cash flow is key to running any small business, and managing yours is never more important than in a tough economic period. That’s why you should include cash flow management in your contingency plan. There are two specific groups to consider: your customers and your vendors. First, think about how you can get delinquent customers to pay up. Talk with your customers and help them set up a payment plan with you so that you know you will be getting paid when you need it most. Also, consider giving a discount to those customers who agree to pay in cash. You should also think about how you can defer your cash outflows such as payments to vendors. Ask if you can go to a 60- or 90-day payment cycle.

Keeping up a healthy cash flow is vital during a slow economy. You might have to have tough conversations with customers who need to pay up or a vendor who you’d like to defer a payment to, but if these conversations help you keep cash in your business when you need it most, they will be worth it.

A Financial Safety Net Plan. So what do you do when all of your customers have paid up and you’ve extended your payments to vendors, and you are still having cash flow problems? Quite simply, you consider more drastic ways of putting cash into your business. It’s time to fall back on the financial safety net that you’ve created for your company. What will your safety net be? Will you draw on your home equity? Stop taking a salary? Ask friends or family for a cash infusion? Sell off some of the company’s assets? Reduce employee salaries? Apply for a small business loan?

You don’t want to be making these decisions when you are already in desperate need of cash. While you are still in good shape, plan out the first three ways you could immediately increase your cash flow. And do everything to ensure that you are protecting your credit so that if you do need a small business loan you can get one. Make certain to pay your bills on time. Don’t let anything fall through the cracks. If you are having trouble making a payment, let the company or bank know why. If there is a dispute on a payment, get something in writing that says you aren’t to blame. Being turned in to a collection agency will tank your credit score. You absolutely can’t risk it.

An Exit Plan. There are some situations you simply can’t plan for. You can’t know for sure how your industry will be affected by the down economy. It’s possible that no matter what you do the slow economy will make it too difficult for you to keep your doors open or too difficult for you to navigate on your own.

The exit plan is the hardest for any small business owner to put together. No entrepreneur wants to give up on a venture, but sometimes you have to face reality. So, think about what lengths you are willing to go to in order to keep your doors open. If you are open to taking on a partner, what kind of person is going to add the necessary skills to the business to help you keep the doors open? Or if you decide to sell the business, would you want to stay on and keep working for the company or would you want to go your separate ways?

Of course, keep in mind how long these transitions will take to make. As a small business owner you naturally have a strong attachment to your business. When you put so much blood, sweat, and tears into your business, it can be difficult to pull the plug at the right time. If you decide what your exit strategy will be before you are experiencing serious problems, you can take your emotions out of the decision-making process and come up with a clear-headed solution that protects your best interests.

Creating a contingency plan will help you minimize the risk of any surprises that pop up—and they will!—during a slow economy. But keep in mind there are some basic things that you absolutely can’t lose focus on during a recession.

You should be aggressively going after new customers, marketing your business nonstop, and giving your customers world-class service. Yes, these are trying times for small business owners, but the obstacles are not insurmountable. With the right plan in place, you can create strong, long-lasting relationships with your customers and a business that can weather any storm.

# # #

About the Authors:

Ed Hess lives in Charlottesville, Virginia, and spent most of his business life advising entrepreneurs and financing their business ventures. He went to college at the University of Florida and to law school at the University of Virginia and graduate law school at New York University. Ed’s professional career was spent with firms like Atlantic Richfield Company, Warburg Paribus Becker, Boettcher and Company, The Robert M. Bass Group, and Andersen Corporate Finance, and he has built three service businesses.

In 1999, Ed began teaching business students part-time at Goizueta Business School, Emory University, during which time he created and taught the entrepreneurship course. In 2002, Ed joined the faculty at Goizueta full-time as an Adjunct Professor where he became the Founder and Executive Director of both the Center for Entrepreneurship and Corporate Growth and the Values-Based Leadership Institute.

Ed has written five other books:

• Hess, Edward D. Make It Happen! 6 Tools for Success (EDHLTD, 2001).

• Hess, Edward. The Successful Family Business: Proactively Managing Both the Family and the Business (Praeger: Westport, Connecticut, 2005).

• Hess and Kazanjian, eds. The Search for Organic Growth (Cambridge University Press: New York, 2006).

• Hess and Cameron, eds. Leading with Values: Positivity, Virtue and High Performance (Cambridge University Press: New York, 2006).

• Hess, Edward. The Road to Organic Growth: How Great Companies Consistently Grow Marketshare from Within (McGraw-Hill: New York, 2007).

In July 2007, Ed joined the Faculty of the Darden School of Business at the University of Virginia as a Professor of Business Administration and Batten Executive-in-Residence where he teaches courses on building small businesses and organic growth.

Charlie Goetz earned his college degree at Emory University and holds an MBA from the University of Texas. Charlie is a successful serial entrepreneur. He built several successful businesses, which in total employed over 1,500 people. He sold most of his businesses and made substantial amounts of money their sales. Charlie then began teaching entrepreneurship at Emory University in the Goizueta Business School where he was again successful. His courses are always oversubscribed, and he has earned multiple teaching awards.

Today, Charlie lives in Atlanta, Georgia, and is an investor in several new businesses and consults with people starting businesses. His specialties are marketing, customer acquisition, and product development.

About the Book:

So, You Want to Start a Business? 8 Steps to Take Before Making the Leap (FT Press, September 2008, ISBN: 978-0-13-712667-5, $18.99) is available in bookstores nationwide and from all major online booksellers.

For more information, please visit http://www.edhltd.com or http://www.ftpress.com.

Cheltenham and the Cotswolds although affluent areas, the region has not been immune from the recession as UK unemployment recently soared to over 2 million in the first time since 1997. One of Cheltenham and the Cotswold’s key businesses – tourism, on which the local hotel industry and smaller private businesses are dependent, fared as one of the best in England according to a recent survey of locations. Although revenue per room fell occupancy rates remained high. This is thought to have been supported by the fact that more British holiday makers took short breaks or holidays in the UK in areas such as the Cotswolds rather than going abroad. Cheltenham and the Cotswolds in particular is also very popular with global visitors especially the Americans and Japanese who love the area’s quaintness and charming character. The fall in the British £ has also meant that it is currently cheaper to visit Britain.

In such economic times the recession has had an impact on us all, whether it has been from an employment to savings, we have all seen the impact of the catastrophe of the financial market, through its naive investments in the American sub-prime housing market, and a question we are all asking is who ruined Britain?

Cheltenham has not gone unharmed with many redundancies in Cheltenham from employer s such as Smiths Industries, Dowtys, and Woolworths, Renishaw in nearby Stonehouse and not to mention the threat of another 900 jobs at the Cheltenham and Gloucester, with their head office just outside Cheltenham, who now appear to be reconsidering their options. Cheltenham & Gloucester staff has been given a ray of hope after its new owner Lloyds has made a u-turn on its decision to close all 164 C&G branches, which would have brought nearly 900 job losses. It is now reviewing the planned closures, but have not yet given further details of what would happen to jobs and branches further in the future.

One of the major employment industries in the area is agriculture, which although it has had a better harvest than the previous two years is still struggling, as retailers are demanding cheaper and cheaper prices for their produce during such hard economic times. This in turn has also reflected in more workers in agriculture losing their jobs and farmers having to work harder and harder just to survive in such economic times.

One area where companies are faring better is in the small to medium size private companies, who can control their finances and have the flexibility to make changes to accommodate the current financial climate, providing they are not solely reliant on bank funding which is still proving hard to come by for many small companies.

More and more people are increasingly looking online for job opportunities online such as Activ Cheltenham and even the possibility of working for themselves, there are an array of new opportunities out there just waiting to be explored and many can be achieved for very little investment.

Cheltenham Borough council are offering extra funding to help small – medium size companies and new start-up companies. Gloucestershire Media Group, has been supporting, developing and promoting the creative media sector in Cheltenham and the county for the past 5 years, funded by Cheltenham Borough council. The group is a network for creative businesses and individuals and start-up businesses that are looking to grow, it currently has over 700 members, and is growing twice as quickly as any other sector in the South West, it delivers initiatives to help the sector grow and develop to increase sales in the recession. Free industry-led training is also on offer.

To improve the image and as a unique showcase the Olympic swimmer Sharon Davies will present an event titled the ‘GMG Village Fayre’ on 18th September 2009.

With general unemployment rising, the jobseeker count in Gloucestershire actually fell by 169 from mid June – mid July. It is said that private companies in the area are starting to recruit again, but in the public sector are starting to make cuts with a squeeze on jobs in councils, hospital, universities, the MOD.

GCHQ is a largest employers in Cheltenham for the UK’s intelligence and security, and is predominantly IT based, is recruiting for new phases in its procedures.

Cheltenham Borough Council has provided an extended range of services and business support for Cheltenham business. These include training, Business Pride grants, Business networks, Events, Cutting costs, Volunteering, Hester’s Way OutReach Programme, and start up programmes.

With many areas of the economy affected by the recession, there are a few careers which are expected to remain unaffected by the recession. These are: Education and Training, Healthcare and Pharmaceuticals, Energy and Utility, Law and Order, Technology, the government sector, environmental services and the skilled services. This is not to say any job in this area is recession proof, but it may be less likely.

Cheltenham retail sector although it has seen a drop in sales over the same period last year ha s actually fared well with few retail closures in the town centre compared to many town centres across Britain, leaving the remaining shops struggling, as visitors look to shop elsewhere, where there is more on offer.

Marks & Spencer in Cheltenham is opening a new branch in September in Kingsditch Retail Park creating 45 new jobs in the town.

Cheltenham has seen more than its fair share of job losses already, but as the economy picks up and the property market starts to move as it is beginning to show signs of in this area, confidence will grow. Property in Cheltenham and the Cotswolds has held its price well compared to other parts of the country and the economy in Cheltenham is set to make a good recovery, but it could still be some time before it is back to anywhere near where it was before the recession hit.

Online Bachelor of Business Administration Degree in Marketing

The Bachelor of Business Administration in Marketing prepares participants for entry level to middle management business administration positions in an organization’s marketing department. The program objectives of the BBA in Marketing Specialization is to provide students with a solid foundation in marketing concepts and business that will develop their understanding of all aspects related to the marketing process. In particular, the program focuses on providing students with a thorough understanding in:

* consumer behavior and market research to effect the marketing decision process
* how to implement business strategies to accommodate the changing global marketplace
* analyzing business problems
* market pricing
* influencing consumer-buyer behavior
* the use of technology in marketing and presentations
* assessing organizational needs and suggest ways of improving organizational standards
* how to advertise and promote
* managing retail operations
* international trade

The marketing specialization at this level also provides the resources needed to develop students’ abilities and gain valuable experience in sales management, marketing as well as develop proficiency in research, oral communication, speaking and business writing, spread sheets, problem solving, team building and leadership skills. The program helps them to develop ethical values that are crucial to gaining respect within the global business environment.

Students participate in workshops, case studies, hands-on projects as well as real world business simulations and web-based projects that help them to make power point presentations and other multi-media presentations.

Core courses covered include General Accounting 1, General Accounting 2, Finance, Economics, Business Law, Principles of Management, Financial Management and Principles of Marketing. The marketing specific courses with an emphasis on technology and communication provide valuable insight of how goods and services are channeled to producer and consumers and will cover topics such as Applied Marketing, Professional Marketing, Advertising and e-Commerce. Other sub-topics include Sales Management, Personnel Management, Customer Service, Statistical Methods and Salesmanship as well as Business Forecasting, Government Regulations in Business and Computer Information Systems.

In addition, the Bachelor of Business Administration in Marketing offers advanced level training to its participants by allowing them to choose and focus on specialized areas in marketing such as International Marketing and Risk or Analysis and Assessment of Global Market Trends. These course offerings will expand their knowledge in marketing techniques and the rising global interdependence in the business community.
The BBA in Marketing takes four years to complete and leads to more advanced business degrees.

Careers with a Bachelor of Business in Marketing Degree

The BBA in Marketing Degree opens the door to a lucrative and exciting career path within this dynamic marketing field. By specializing in a particular marketing field such as advertising, promotions, public relations, finance, retail management or sales you will further enhance the scope of your career opportunities as well as increase your marketability and income earning potential. Job titles that exist within the marketing department of large corporations include marketing assistant, product manager, and marketing communication manager, marketing director, sales promotion manager or marketing research manager. Other career opportunities that exist within other industries such as the financial, advertising and retailing industry include business analyst, project analyst, financial analyst or promotion and advertising specialist, media manager and sales promotion manager.

Average Salary with a Bachelor of Business in Marketing Degree

The median salary for graduates with a Bachelor of Business in Marketing Degree will depend on various factors including type of company and size, type of industry, area of expertise, benefits, experience and location. For individuals working as marketing managers and marketing coordinators can earn between $45,117 and $48,531 per year, while account managers and retail store managers earn an average $45,282 and $45,357 annually. Marketing Directors and Regional Sales Manager can expect to earn $64,803 and $70,300 per year.

What are the Pros and Cons of Earning an Online Bachelor of Business in Marketing Degree?
Pros

Accessibility: online educational programs allow students to pursue their studied from any convenient location from anywhere around the world.

Flexibility: students pursuing an online education have the flexibility to work and study at the same time.

Convenient: Students have 24hr access to learning material through the institution’s online library and coursework archive. Students have the choice of attending online classes at a time convenient to them whether day-night- or week-end classes.
Cons

Some of the disadvantages of pursuing an online education include:

* Hardware intensive
* Unpredictable technical difficulties
* Students who lack the self-discipline and motivation to study on their own may not enjoy the benefits that online education provides
* Despite the growing recognition of online education programs, some employers fail to recognize the value of degrees earned online
* Limited interaction between instructors and fellow peers

Baker College Online
Kaplan University
Pacific State University
American InterContinental University
South University
Bauer College Department of Marketing Entrepreneurship

Attending a career college can help you land the job you’ve dreamed about. With so many options for schools and vocations, it’s important that you do some research before deciding on a new career.

Some of the most promising career fields include criminal justices, business and management, as well as the health and medical field.

The following excerpts provide knowledgeable reviews of some of the most prominent career college programs available.

Criminal Justice Schools

The growing emphasis on security has created a record demand for criminal justice and security professionals. Training in criminal justice will help you take advantage of this growing market trend.

America InterContinental University’s online accredited degree program allows you to take advantage of this growing employment field. Best of all, AIU offers accelerated degree programs so you can start your career in the criminal justice system in no time!

If you are ready to investigate your career option in the criminal justice system, Phoenix online can provide you with the education you need for your exciting new career. Take classes at your own pace and in the comfort of your own home. What better way to learn than from instructors who work in the criminal justice field!

Business Management Schools

If you are looking to move up at your current job, enrolling in a business management school will fast track you to a management position. Anyone pursuing a career in business management needs to understand the complexity of finance, sales, ethics, marketing and management.

DeVry Online offers career-focused degrees for working adults. A Business Administration degree offers students the chance to specialize their studies in a selected area of business management. Students are provided with useful, up-to-date knowledge and skills in business, critical thinking and effective communication.

Health & Medical Schools

Healthcare is one of the fastest-growing fields. According to the U.S. Department of Labor there will be over 2.8 million new jobs in healthcare in the U.S. by the year 2008.

A degree from Phoenix Online will help you prepare for an exciting career in the healthcare field. The Healthcare Management program is specifically designed to give students a combination of business and healthcare focused foundation so that they are prepared for the real world applications that await graduates.

South University is an online university that is tailored to working adults. The Healthcare Management program allows students to balance work, kids, and their education. Learn and understand the basics of the health care industry as well as business, management, and patient care issues that are important in today’s healthcare industry.

Whether you’re looking for growth opportunities in your current job or you’re thinking about switching careers altogether, a career college offers ample opportunity to get the skills you need to move ahead.

ALMOST THREE MILLION TOURISTS visited Thailand, India, Singapore, Malaysia and the Philippines last 2007, says statistical reports ,  with  some two hundred thousand of them visiting the Philippines in 2006 .    Yet,   Manila  still  struggles and keeps up behind said countries as 5th placing newcomer-player in the medical tourism ballgame. Yet,   hope  springs eternal.

 

 

The  Philippine government,   meantime,   with  an  impending freshly-installed  government under Benigno Aquino III,    continues to  strongly stress the importance of developing this sector as it is perceived as a “strategic tourism niche” for the years to come.  The Tourism Department gears up , zeroing in on cosmetic surgery as the perfect pitch to surface in the global market , “now that it has jumped enthusiastically on board the medical tourism bandwagon.”

 

Filipino doctor  Dr. Rolando Cabatu,  Vice-President of the Philippine Association of Health Organizations In Medical Tourism Inc.,  says  that  more than 200,000 tourists visiting the country in the past years have fueled the economy with an influx of dollars, considering 10 million OFWs also “acting as sales representatives” in their respective work destinations to promote the country’s medical services.

 

Dr. Cabatu  said that  this  would translate to a minimum of 10 million “recruited-tourists” who can possibly visit Manila as patient availing of local medical services at a small fraction of the price as compared to prices in Western countries.

 

Medical tourism industry analysts’ observe  that   Malaysia and the Philippines, both relatively struggling newbies in the med tourism global market, will be strong contenders in the next ten years .

 

And this early, the Philippines targets its future capture of a whopping US$2 billion revenue share in the Asian medical tourism market from the predicted scenario of the industry , expected to shoot up to being US$92-billion global market by 2012. “And countries such as Singapore will try to grab a US$6.8-billion share of this figure and already it is succeeding. “

 

The figures speak for themselves.

 

Check out the numbers: according to TravelWeeklyWeb.com , Asia rides high with the most potential medical tourism market worldwide , generating 2007 revenues worth US$ 3.4 Billion, accounting for nearly 12.7% of the global market.

 

The global clientele is growing in numbers: “There will be more than 220 million aging baby boomers from the West, a large market with declining health —-who will be seeking inexpensive, high-quality medical care most likely in Asia. “

Price Waterhouse Coopers study says : seven percent of the world population in 2007, or 42 million people, were at least 65 years old and the figure was expected to double by 2015. That’s great clientele base for medical tourism.

 

Meantime, analysts reveal that Japan’s aging market — with its population dominated by the elderly — is touted as the largest client base for the global medical tourism market — and the main focus that Asian destinations like the Philippines can get its hands on — to make sure it meets its US$2 billion target share of the Asian industry’s revenues.

 

Recent studies by the Philippine Institute For Development studies show that as per Japan’s Ministry of Health and Welfare estimates , millions  of worldwide  elderly needing nursing care is set to increase to 4 million in year 2010 , and will increase more to as high as 5.2 million in year 2025.

 

 

The  Philippine  Daily Inquirer reports:    “As industry experts see a strong Asian medical tourism market down the line, and is expected to grow at a CAGR of 17.6% between 2007 and 2012, the Philippines can work on improving its facilities for bigger bucks in medical tourism where it is said to be “gaining a firm foothold”.

 

The reports contend: The Philippines is known for its quality nurses and other health workers who have dominated the medical profession in such developed countries as the United States and Great Britain, reason for foreign patients to get assurance of getting the best in health care. The medical sector is working hard to see medical tourism flourish because they believe that the sector has the potential to address not only economic problems, but also the woes besetting our biggest exports: our human resources.

“Philippine medical facilities may, at this stage, still be building a reputation for service excellence, but they’ve put into place several mechanisms to cater to visiting patients.

Asian Hospital, St Luke’s and Medical City to name a few have set up special departments to deal only with foreign cases. For visitors from the US, the biggest motivation is the cost savings, as patients can receive US-standard healthcare from Asian healthcare facilities and internationally known doctors at a fifth of the price back home.”

 

Researchandmarkets.com’s figures: “Philippine medical tourism only started three years ago, in October 2005, but has already met sizable success. The overall income related to medical tourism was topping the 200 million USD threshold for the first year of operation.”

 

“Realizing the revenue potential of medical tourism, the Philippines is now exploring ways to take advantage of the growing trend. According to a Price Waterhouse Coopers study, 24 countries spent a combined $2.7 trillion on health and wellness in 2002 and the figures should rise to $10 trillion by 2020.”

 

From NaturalNews.com, writer Mike Adams reveals that yes, this 21st century phenomenon called medical tourism — also called medical travel or health tourism ( “a term coined by travel agencies and the mass media to describe the rapidly-growing practice of traveling to another country to obtain healthcare”) may be good news for Asia. But it’s bad news for the US healthcare industry.

 

Mike Adams writes: “People will go overseas to get better medical care or a better value on surgical procedures, and the popularity of medical tourism is proving that.”

“If healthcare becomes so expensive in the Western World, and that it’s by far cheaper to buy an international plane ticket and get some medical procedure done overseas, then more and more people are going to take that option and go overseas. And as medical tourism becomes more popular, I think we’re going to see the American Medical Association, hospital associations and maybe even the FDA up in arms, complaining about the loss of revenues for U.S. companies.”

“So in addition to exporting so many jobs from the IT industry, we will actually be exporting healthcare revenues to countries around the world. And these are substantial revenues; we’re talking about billions of dollars at stake. Medical tourism is good news for Asia, and bad news for US’ healthcare industry.”

Adams further writes: “And if you want to have a healthcare system that works , you need to make it efficient. You need to get rid of the paperwork, the fraud and the waste, and have a system that offers medical procedures at a fair, affordable price. Let’s face it: big medicine is big business. And organized medicine absolutely hates competition.”

 

“Medical tourism hospitals in the Philippines and other countries actually have to meet higher standards. They have to give you such a high-quality experience with such outstanding results that you go back home to the US and tell people. Because when you do that, they know it’s going to be great word-of- mouth marketing for that hospital.”

Wikipedia’s statistical data informs:

“Thailand as a destination for medical treatment has rocketed in recent years and they have the statistics to prove it. Take just one country like the United Arab Emirates for example – over 60,000 of their citizens a year come to Thailand to enjoy treatment. Two of the Thailand’s top hospitals Bumrungrad and Samitivej treat patients of whom 40% are foreign – this kind of high percentage is quite phenomenal. “

“According to the Kasikorn Research Centre, 2005 alone attracted an unprecedented 1.28 million foreign medical travelers which generated revenue of 33 billion Baht. That means therefore, that on average each patient spent 25,800 Baht for their treatments. It was revealed in an article in Newsweek in 2006 that 400,000 foreign patients were treated at just Bumrungrad hospital in Bangkok. This prestigious world-class hospital has an outpatient capacity of 6,000 patients per day.”

“Thailand presently has a free universal health program for its citizens with more than 600 hospitals and 400 medical facilities. Today, Thailand has proudly become a medical hub for patients from the United States, Europe, the surrounding countries, and the Middle East.”

Still, Singapore is touted as ranked close second to Thailand as “more than half a million international visitors visited the city-state in 2006 , boosting its medical tourism industry. Asia is becoming the medical travel hub of the world.”

 

 

 

Meantime, analysts reveal that Japan’s aging market — with its population dominated by the elderly — is touted as the largest client base for the global medical tourism market — and the main focus that Asian destinations like the Philippines can get its hands on — to make sure it meets its US$2 billion target share of the Asian industry’s revenues.

 

 

Recent studies by the Philippine Institute For Development studies show that as per

Japan’s Ministry of Health and Welfare estimates , the elderly needing nursing care will be over 2 million, set to increase to 4 million in year 2010 , and will increase more to as high as 5.2 million in year 2025.

 

 

More statistical figures and facts :

 

· As of Oct 2001, there are 10,137 Japanese officially residing in RP making it the 8th most popular destination in Asia next to China, Singapore, Thailand, Korea, Taiwan, Malaysia and Indonesia.

 

 

· Japan, ranked as the second largest tourism market (next to US), has contributed roughly US$270 million in direct revenues to the Philippine tourism industry.

 

· But RP has so far captured only 1.8% of the 20 million Japanese travelers

in the Asia-Pacific region.

 

· Japan’s aging market will be the largest medical tourism market in Asia, reason why Asian countries are aggressively positioning themselves to become the travel destination of this market, and eventually become the retirement choice.
· An average Japanese retiree spends at least US$2,400 annually in medical care ,With 20 million aging retirees having their regular medical check-ups or treatment, that translates to at least US$48 Billion. And the amount is even expected to go up.

 

· Great numbers for the Philippine medical tourism industry — but RP ranks only 8th as popular retirement destination for Jap tourists ( in October 2001 study).

 

· In 2003, 1.9 million foreigners visited the Philippines, a number that has remained relatively stable since 2000. During that period, biggest volume of visitors came from US, Japan, South Korea, HK, and Taiwan. But tourism failed to flourish as a result of political and economic instability, among other factors. (www.hawaii.edu)

When the Arroyo government apparently got giddy with the astounding figures and is all poised to pursue the public sector-cum-private sector initiative with the Health Department, Tourism Department and private medical hospitals , facilities and practitioners , not a few wanted to join the burgeoning bandwagon for big bucks. Arroyo’s statement: “Cost is competitive and quality is high. Filipino professionals can serve the world right here at home, as we provide more jobs downstream and cut down poverty”

As industry experts see a strong Asian medical tourism market down the line, and is expected to grow at a CAGR of 17.6% between 2007 and 2012 (www.researchandmarkets.com), the Philippines can work on improving its facilities for bigger bucks in medical tourism where it is said to be “gaining a firm foothold”, as per Philippine Daily Inquirer reports.

 

The reports contend: The Philippines is known for its quality nurses and other health workers who have dominated the medical profession in such developed countries as the United States and Great Britain, reason for foreign patients to get assurance of getting the best in health care. The medical sector is working hard to see medical tourism flourish because they believe that the sector has the potential to address not only economic problems, but also the woes besetting our biggest exports: our human resources.

“Philippine medical facilities may, at this stage, still be building a reputation for service excellence, but they’ve put into place several mechanisms to cater to visiting patients.

Asian Hospital, St Luke’s and Medical City to name a few have set up special departments to deal only with foreign cases. For visitors from the US, the biggest motivation is the cost savings, as patients can receive US-standard healthcare from Asian healthcare facilities and internationally known doctors at a fifth of the price back home.”

 

Researchandmarkets.com’s figures: “Philippine medical tourism only started three years ago, in October 2005, but has already met sizable success. The overall income related to medical tourism was topping the 200 million USD threshold for the first year of operation.”

 

“Realizing the revenue potential of medical tourism, the Philippines is now exploring ways to take advantage of the growing trend. According to a Price Waterhouse Coopers study, 24 countries spent a combined $2.7 trillion on health and wellness in 2002 and the figures should rise to $10 trillion by 2020 (Philippine Daily Inquirer report).”

 

So who’s sorry now? Do we hear sour-graping??

 

From NaturalNews.com, writer Mike Adams reveals that yes, this 21st century phenomenon called medical tourism — also called medical travel or health tourism ( “a term coined by travel agencies and the mass media to describe the rapidly-growing practice of traveling to another country to obtain healthcare”) may be good news for Asia. But it’s bad news for the US healthcare industry.

 

Mike Adams: ” Asian medical tourism is bad news for the US healthcare industry.

People will go overseas to get better medical care or a better value on surgical procedures, and the popularity of medical tourism is proving that.

 

“If healthcare becomes so expensive in the Western World, and that it’s by far cheaper to buy an international plane ticket and get some medical procedure done overseas, then more and more people are going to take that option and go overseas. And as medical tourism becomes more popular, I think we’re going to see the American Medical Association, hospital associations and maybe even the FDA up in arms, complaining about the loss of revenues for U.S. companies.”

“So in addition to exporting so many jobs from the IT industry, we will actually be exporting healthcare revenues to countries around the world. And these are substantial revenues; we’re talking about billions of dollars at stake. Medical tourism is good news for Asia, and bad news for US’ healthcare industry.”

 

Adams further writes: “And if you want to have a healthcare system that works , you need to make it efficient. You need to get rid of the paperwork, the fraud and the waste, and have a system that offers medical procedures at a fair, affordable price. Let’s face it: big medicine is big business. And organized medicine absolutely hates competition.”

 

The cost savings are incredible: a knee replacement surgery in an Asian high-tech hospital may only cost you $6,000 while it could cost $50,000 in the USA.

Heart bypass surgery in Asia costs around $10,000, while costing

6-8 times more in the US. Gastric bypass surgery in the U.S. can cost $10,000 to $20,000, while costing only under $5,000 overseas (www.naturalnews.com) .

 

 

“Medical tourism hospitals in the Philippines and other countries actually have to meet higher standards. They have to give you such a high-quality experience with such outstanding results that you go back home to the US and tell people. Because when you do that, they know it’s going to be great word-of- mouth marketing for that hospital.”

 

One downside of medical tourism: the World Health Organization (WHO) recently ranked the Philippines as one of the top five countries in the world for human organ trafficking, along with China, Pakistan, Egypt and Colombia.

 

Asia Times Online reports that the website www.liver4you.org advertises liver transplants for $130,000, but a foreign patient can expect to spend between $70,000 to $115,000 for a kidney transplant in one of 20 government-accredit ed medical facilities in the Philippines.

 

And as RP medical tourism booms , so does the influx of deep-pocketed foreigners who seek organ transplants, most commonly kidneys — about 200,000 health tourists visited the Philippines in 2006, according  to official  statistics.

 

Based on the Philippine Renal Disease Registry , kidney transplants in the Philippines has recently risen dramatically, climbing from 306 transplants in 2002 to 1,046 in 2007. Over half of the kidney recipients last year were foreigners, mostly from the Middle East.

Meantime, Dr. Cabatu says Thailand is top Asian country in the Asian medical tourism phenomenon, and not Singapore – as contrary to reports.

Wikipedia’s statistical data:

“Thailand as a destination for medical treatment has rocketed in recent years and they have the statistics to prove it. Take just one country like the United Arab Emirates for example – over 60,000 of their citizens a year come to Thailand to enjoy treatment. Two of the Thailand’s top hospitals Bumrungrad and Samitivej treat patients of whom 40% are foreign – this kind of high percentage is quite phenomenal. “

“According to the Kasikorn Research Centre, 2005 alone attracted an unprecedented 1.28 million foreign medical travelers which generated revenue of 33 billion Baht. That means therefore, that on average each patient spent 25,800 Baht for their treatments. It was revealed in an article in Newsweek in 2006 that 400,000 foreign patients were treated at just Bumrungrad hospital in Bangkok. This prestigious world-class hospital has an outpatient capacity of 6,000 patients per day.”

“Thailand presently has a free universal health program for its citizens with more than 600 hospitals and 400 medical facilities. Today, Thailand has proudly become a medical hub for patients from the United States, Europe, the surrounding countries, and the Middle East.”

Still, Singapore is touted as ranked close second to Thailand as “more than half a million international visitors visited the city-state in 2006 , boosting its medical tourism industry. Asia is becoming the medical travel hub of the world.”