Nigerians spent $2.41 million on medical tourism in 2024, a 36.91% decrease from $3.82 million in 2023. The spending was predominantly concentrated in the first half of the year, with significant drops in the latter half. Month-by-month breakdown shows fluctuating spending patterns from previous years.
A recent report by Saturday PUNCH highlighted that Nigerians allocated roughly $2.41 million to foreign healthcare services in 2024. This marks a significant decline from the $3.82 million spent on medical tourism in 2023. The Central Bank of Nigeria confirmed this drop, noting it constitutes a decrease of approximately 36.91% compared to the previous year.
Interestingly, expenditures on medical tourism were notably uneven throughout 2024, with the first half of the year drastically outspending the latter half. From January to June 2024, the amount reached $2.38 million, while the second half only reported $0.03 million in medical expenses abroad. This stark contrast exemplifies changing trends in medical tourism among Nigerians.
A closer inspection of the yearly spending reveals a month-by-month breakdown. January alone accounted for $2.30 million spent on medical services, while February and April saw zero expenditure. Minimal amounts were recorded from March through June, totaling just $0.08 million. After several months without any foreign healthcare spending in July and August, only $0.01 million was spent in September, maintaining that same low figure through October, November, and December.
For comparison, examining the medical tourism spending in 2023 reveals quite a different picture. The breakdown indicates $0.34 million was spent in January, with a peak of $1.28 million in May, while spending fluctuated throughout the year. The total for 2023 displayed higher monthly expenditure patterns, culminating in $0.28 million in December, illustrating a stark contrast to the declining trend observed in 2024.
In conclusion, the landscape of medical tourism for Nigerians has shifted, with reported spending dropping to $2.41 million in 2024 from $3.82 million in 2023. The dramatic differences between the first and second halves of 2024 highlight changing behaviors and perhaps challenges in accessing foreign healthcare. Continuing trends and spending may warrant closer scrutiny as the reasons behind these reductions unfold and potentially reshape healthcare decisions among Nigerians.
Original Source: punchng.com
