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Bali’s growing economy, driven by the tourism and hospitality sectors, has created a favorable environment for investors to explore various business options. According to the Bali Health Agency, the medical tourism industry has experienced steady growth in Bali over the past few years, with an average growth rate of around 10% per year.
This article outlines the various investment opportunities available in the medical tourism industry in Bali. It also discusses how Emerhub assists in establishing a medical tourism business in Bali through its range of services.
Investment prospects and choices
Medical tourism in Bali includes health and wellness resorts, cosmetic and aesthetic clinics, rehabilitation centers, and medical tourism agencies.
Emerhub offers valuable expertise for investors who are interested in entering Bali’s flourishing medical tourism sector.
Cosmetic and aesthetics clinics in Bali
Cosmetic and aesthetic clinics are medical facilities that offer services to improve a person’s physical appearance. They provide a wide range of treatments, including skin rejuvenation treatments like chemical peels and laser skin resurfacing. Additionally, they also provide body contouring treatments like cellulite reduction, fat removal, and hair restoration treatments.
Market overview of the cosmetic and aesthetic industry in Bali
Bali has seen a growth in cosmetic and aesthetic procedures due to the availability of qualified practitioners and relatively affordable prices compared to other countries including Malaysia and Singapore. According to a report by the Indonesian Ministry of Tourism and Creative Economy, Bali has over 200 beauty clinics, spas, and aesthetic centers that offer various cosmetic treatments and services.
Some of the major players in the market include established international chains such as Erha, Miracle, and Marie France, as well as local players such as Cocoon Medical Spa, Rejuvie Clinic, and Bali Plastic Surgery. These clinics offer a wide range of services, from minimally invasive treatments such as Botox and dermal fillers to more invasive procedures such as breast augmentation and liposuction.
Many clinics offer heavy discounts, resulting in price wars that ultimately lead to high competition among all players in the market. To stand out, new entrants can consider specializing in specific areas of cosmetic and aesthetic medicine. These include non-surgical treatments like facial rejuvenation and body contouring or more invasive procedures like plastic surgery.
By establishing a niche market, new clinics can differentiate themselves from competitors and attract a targeted customer base. Additionally, they can also offer unique services such as personalized treatment plans or advanced technology not yet available in the market.
Legal considerations for the cosmetic and aesthetic industry in Bali
Starting a cosmetic and aesthetic clinic in Bali requires compliance with legal regulations. Which include obtaining necessary licenses, and permits, meeting ownership requirements, and fulfilling minimum capital requirements.
- The cosmetic and aesthetic industry in Bali falls under KBLI 96021 which is a code for beauty and health services.
- The industry requires a business license, commercial license, and operating permit from the local government.
- Foreigners can fully own a clinic in Bali through a PT PMA. It requires a minimum capital investment of IDR 10 billion (649,728 USD).
Health and wellness resorts in Bali
Health and wellness resorts are specialized hospitality establishments that focus on offering various wellness services to guests. These wellness services include yoga and meditation classes, massage therapy, spa treatments, fitness classes, nutritional counseling, and healthy food options.
Discovering the investment opportunities in Bali’s health and wellness resort Industry
According to the Bali Tourism Board, the island’s health and wellness industry is experiencing rapid growth, with the presence of more than 300 yoga and wellness centers in 2022. Bali’s popularity as a wellness destination has been on the rise, with the island being named the “World’s Best Destination for Wellness” by the Global Wellness Summit in 2017.
Despite the highly competitive nature of the industry, Bali’s unique selling proposition in terms of culture and natural surroundings has been a driving force for the development of successful health and wellness resorts. These resorts, such as Como Shambhala Estate and Yoga Barn, offer guests a refreshing experience by incorporating traditional therapies and cultural practices into their services.
New entrants in the industry can differentiate themselves by incorporating sustainable practices, offering personalized nutrition plans, traditional therapies, massage, cultural activities, outdoor adventure activities, and creative workshops.
Legal consideration for the health and wellness industry in Bali
These considerations include obtaining licenses, permits, meeting ownership requirements, and fulfilling minimum capital requirements.
- The health and wellness resort industry in Bali falls under KBLI 55103, which covers accommodation services with a focus on health and wellness.
- Foreign ownership is allowed up to 100% through a PT PMA with an investment of IDR 10 billion (649,728 USD).
- Required licenses include a business license, commercial license, and operating permit from the local government.
Medical tourism agency in Bali
A medical tourism agency is a company that arranges medical treatments and procedures for patients who travel to Bali from other countries. The agency acts as a liaison between the patients and healthcare providers in Bali. It facilitates the entire process from booking appointments to arranging travel and accommodations.
Prospects for new medical tourism agencies in Bali
The lower cost of healthcare services in Bali, combined with its proximity to other countries Australia, New Zealand, and Singapore where medical treatments are more expensive, has led to the growth of medical tourism agencies in the region.
With more than 90,000 medical tourists annually, Bali provides a great opportunity for new entrants to establish themselves in the industry.
New entrants can stand out among established agencies by offering specialized treatments not widely available in the region. These include stem cell therapy, anti-aging treatments, and detox programs. Additionally, they can also focus on creating a unique experience for medical tourists such as through luxury accommodations.
Legal considerations for starting a medical tourism agency in Bali
Investors planning to start a medical tourism agency in Bali, must obtain all required licenses, and permits to meet the ownership requirements. Additionally, it also requires investors to fulfill the minimum capital requirements.
- Medical tourism agencies fall under the KBLI classification of 79112 which is a code for tour operators and travel services.
- Foreigners can fully own a medical tourism agency in Bali through a PT PMA. It requires a minimum investment of IDR 10 billion (649,728 USD).
- Required licenses include a business license, commercial license, and operating permit from the local government.
Rehabilitation centers in Bali
Rehabilitation centers in Bali offer a range of services to patients who are recovering from injuries or medical procedures. These services include physical therapy, occupational therapy, and speech therapy.
Competing in Bali’s rehabilitation market
In Bali, there are several established rehabilitation centers that offer a range of services, such as Bali Mandara Hospital and BIMC Hospital. However, there is also a growing trend toward alternative therapies in Bali. These include yoga and meditation, which provide a unique selling point for new rehabilitation centers.
An example of this is the Kembali Bali rehabilitation center, which offers a holistic approach to rehabilitation. It includes traditional Balinese healing practices, such as massage and herbal medicine, alongside conventional therapies.
New rehabilitation centers in Bali can stand out in the market by addressing the growing awareness of mental health’s importance in the rehabilitation process. They can achieve this by including mental health professionals and counseling services in their personalized treatment plans.
New entrants can also leverage technology to enhance their services, such as telemedicine options, advanced rehabilitation equipment, and online resources. Additionally, partnering with local businesses, such as wellness retreats and tour operators, can also create unique packages that combine rehabilitation with mental health services and other activities and experiences in Bali.
Legal considerations for starting a rehabilitation center in Bali
The legal considerations for rehabilitation centers include obtaining licenses and permits and meeting ownership requirements. Additionally, it also includes fulfilling the minimum capital requirement to ensure regulatory compliance.
- Rehabilitation centers fall under the KBLI classification of 86909 which is a code for rehabilitation center services.
- Foreign ownership is allowed up to 100% through a PT PMA with an investment of IDR 10 billion (649,728 USD).
- Required licenses include a business license, a commercial license, and an operating permit from the local government.
Starting a medical tourism business in Bali? Get help from Emerhub
Emerhub assists investors to understand and build a medical tourism business in Bali. Our experts offer a range of services to start a business in the industry.
Business registration and licensing
Emerhub helps investors register their businesses in Bali, including securing all necessary permits and licenses from local authorities. It also registers businesses with relevant government agencies.
These permits and licenses include a business license, a commercial registry number, a medical tourist permit, and a tax ID number. Additionally, Emerhub assists with registering businesses with the Investment Coordinating Board of Indonesia (BKPM) and ministries.
Market research
Emerhub provides services for market research to help investors understand the market demand for medical tourism in Bali. These include target markets, pricing strategies, and competition analysis.
Real estate services
Emerhub provides services to investors in identifying and acquiring suitable real estate for their medical tourism business. These services include conducting due diligence on potential sites and negotiating with property owners.
Business development
Emerhub helps investors create marketing strategies to attract new customers and build networks with suppliers and partners. Additionally, it also develops new products and services.
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