Overview of IPMI Inflation in South East Asia
There are six locations included in the SEA region this year:
- Hong Kong
When looking at the average inflation of the six locations in the region, 2015 saw premiums increase at 9.2%, a 2% rise over last year's average regional inflation of 7.2%, yet equal to the average global inflation for 2015. When comparing the previous report figures it would appear that international medical insurance inflation in Asia is tracking the world economy. While 2015 saw a 2% increase over that in 2014, it was the same as in 2013, yet still lower than the majority of previous years.
Pacific Prime believes that, aside from the four main contributors to inflation listed at the start of this report there are two extra contributors that have led to this year's average increase:
- A growing middle class that is also becoming increasingly wealthy and educated that is starting to not only demand better healthcare, but also seek out private medical care and the insurance to cover it.
- Overall, the quality of health-care in South East Asia is increasing, which has led to an increase in the cost and subsequently an increase in insurance premiums to cover this cost. View our Cost of Health Insurance report to learn more about premiums in South East Asia.
To learn more about the inflation in each location in South East Asia, please click the tabs for each location above.