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Global healthcare industry boom and career opportunities for foreign professionals
International career opportunities can be a watershed moment in anyone’s career. International jobs are generally on professionals’ wish lists for career or personal development. And when it comes to international jobs, we cannot escape nursing or healthcare jobs.
We must accept that healthcare is an industry that will always stay in trend. The international healthcare market is a thriving one. But, there is a global need for more healthcare workers. There is a significant shortage of healthcare experts in some major countries. For example, the NHS is facing a catastrophic shortage of qualified nurses in the U.K. As a result, it has been projected that NHS will need to hire at least 5,000 more foreign nurses annually by the end of 2024.
Thus, there are benefits to having international career opportunities in the healthcare sector. And it is just this topic that we will focus on in this post. So, if you want to be a nurse or a healthcare professional, stay with us until the end.
We will go through the “global healthcare industry boom and the career opportunities it provides.”
Global Healthcare Boom And Employee Shortage
A significant increase in healthcare development, growth, and spending is a global healthcare boom.
This can include medical technological improvements, increased access to healthcare for underserved communities, and so on. In addition, population growth and aging, increased emphasis on preventative care, and breakthroughs in medical research and technology are all factors that contribute to a global healthcare boom.
The global healthcare industry is growing. Worldwide healthcare expenditure has escalated recently, with North America and Europe paying the most. Before COVID-19, for example, healthcare spending in the United States surpassed US$3.8 trillion. This is further predicted to grow at a 5.3% annual rate, reaching roughly US$6.2 trillion by 2028. Yet, despite the growth, there are still global inequities in health spending, which will persist over the next 25 years. For example, according to studies, low- and lower-middle-income countries would spend $164 to $1,935 per person on healthcare by 2040, while developed countries will spend $9,019 per person.
Apart from the spending on the healthcare industry, the COVID-19 pandemic has boosted the need for medical supplies. But, the irony is that there has been a global lack of healthcare workers. In this regard, before COVID-19, WHO estimated an 18 million-person deficit in healthcare personnel by 2030.
That said, nursing is one of the fields in the health and social care industry experiencing a severe shortage. In fact, by 2030, 40 million new employment will be created in the health sector worldwide. A circumstance like this will provide ex-pat job opportunities in the healthcare sector.