The Philippines has already earned an estimated $200 million from medical tourists this year, according to Health Department figures released this week.
Nearly 200,000 foreigners have undergone procedures in the country since the opening of the Philippine Medical Tourism Programme (PMTP) this year, putting the Philippines in the same league as established medical tourism areas like Thailand, Malaysia and Singapore.
The low prices of procedures are the main attraction to the country cited by potential patient tourists, where ceramic denture costs $1,000 in the Philippines, compared to $8,000 in the USA.
Filipino department of health secretary Francisco Duque III said: "The Filipino physicians are now at par with their western counterparts, with most medical specialists in the country having undergone fellowship training in various sub-specialties in the US."
Estimates from the Department of Health say the global healthcare market is worth $3 trillion a year, where Japan is responsible for 77 per cent of procedures, followed by the US.