GCC healthcare sector investments to reach $89bln by 2022

GCC healthcare sector investments to reach $89bln by 2022

Healthcare-related expenditure in the GCC states grew from $60 billion in 2013 to $76 billion in 2019 and is expected to grow to a further $89 billion by 2022, an overall increase of nearly 50 percent from 2013 to 2022, according to global accounting and consulting firm KPMG.From 2018 to 2022, private-sector healthcare spending is forecast to increase at a cumulative annual growth rate (CAGR) of 9.5 percent, compared to a government contribution growth rate of 4.4 percent, KPMG said in a new report titled UAE Healthcare Perspectives: Who cares.Healthcare is one of the fastest-growing sectors in the UAE, with the latest Medical Tourism Index ranking Dubai and Abu Dhabi in sixth and eighth place respectively for medical tourism, KPMG said.  Nitin Mehrotra, Partner, Infrastructure, Government and Healthcare, said: "While