India’s medical value tourism (MVT) sector has seen a sharp drop in patient arrivals from Bangladesh due to deterioration in bilateral ties and visa restrictions. According to the latest data from the Ministry of Tourism, MVT declined by 43% year-on-year (YoY) in November 2024 and 59% in December 2024, reaching its lowest monthly level of 30,800 past year.
“The decline is in line with our expectations,” said Tausif Shaikh, an analyst at BNP Paribas Securities India Private Limited. Referring to the firm’s Pulse from the Ground: Unpacking the Bangladesh Crisis report, he said, “The resumption of freight train services between India and Bangladesh after nine months is a positive sign, but a full recovery in MVT will take…
