In this article, we will list and explore the 20 best countries for doctors to immigrate to. You can skip our detailed analysis and go directly to our list of 5 Best Countries for Doctors to Immigrate to.
For many medical professionals, the United States has historically been an attractive destination due to its renowned healthcare infrastructure and opportunities. The US stands as one of the top countries paying high wages to doctors.
Challenges in the US Healthcare System
America has one of the highest healthcare expenditures globally, creating a pressing need to curtail these costs. According to CMS.gov, in 2021, healthcare expenditure in the United States escalated by 2.7%, totaling $4.3 trillion, which equates to $12,914 per individual. This accounts for 18.3% of the country’s Gross Domestic Product.
Becoming a doctor in the US involves substantial expenses, with individuals often facing hundreds of thousands of dollars in student loans. In February 2022, Forbes reported that the expenses associated with attending medical school can be equivalent to the price of a house. Data provided by the Association of American Medical Colleges (AAMC) indicated that the median four-year cost of attendance for the Class of 2020 fell between $255,000 to $337,000. The considerable expense of medical education has resulted in 84% of students graduating with debts surpassing $100,000, according to reports by the AAMC.
According to the AAMC’s June 2020 report, the United States is projected to face a shortage of between 54,100 and 139,000 physicians by 2033. While importing doctors from other countries might seem like a solution to alleviate the physician shortage, it poses challenges. Importing foreign doctors could potentially disrupt domestic academic institutions and impact doctors who have invested significant financial resources and time in their education. The Education Data Initiative notes that aspiring physicians invest around eight years in postsecondary education, encompassing medical school and undergraduate studies, before qualifying as doctors. Graduates of medical school, including pre-medical expenses, typically face a median educational debt of $215,100.
Among indebted medical school graduates receiving over $100,000 in scholarships, those attending public institutions owe a median of $115,000, while private medical school attendees owe a median of $130,000. Over slightly more than 15 years, there has been a significant 156% increase in average debt, with a nearly doubled expense when adjusted for inflation—marking a 372% surge in medical school costs. Notably, medical school debt shows an annual growth rate of 12.4%, while the cost of medical education increases at a rate of 2.5% annually. Projections suggest that if the current pattern persists, the average medical student debt could surpass $300,000 by 2024, outpacing the rate of increase in the cost of attendance.
These professionals have shouldered substantial debts to pursue their medical careers, and an influx of foreign doctors could potentially undermine their opportunities and financial stability. Therefore, reducing healthcare spending in the US requires a nuanced approach. It involves addressing the high costs associated with medical education while exploring strategies to retain and support domestically trained healthcare professionals. Solutions could encompasses incentivizing doctors to practice in underserved areas, implementing cost-effective medical education programs, and enhancing healthcare infrastructure to optimize efficiency without compromising the careers of those who have invested in becoming US-trained physicians.
Major Players in the Global Healthcare Industry
The global healthcare industry is a vast ecosystem comprising various stakeholders, each playing a pivotal role in delivering quality healthcare services, advancing medical research, and shaping the future of healthcare worldwide. Pharmaceutical giant Roche Holding AG (OTC:RHHBY) leads in drug development and innovation, while healthcare providers like Mayo Clinic and NHS deliver essential care services.
Medical device companies such as Medtronic plc (NYSE:MDT) and Siemens Healthineers offer cutting-edge technologies, while insurer UnitedHealth Group Inc. (NYSE:UNH) manages healthcare costs and provides coverage. Biotechnology firm Moderna, Inc. (NASDAQ:MRNA) drives advancements in personalized medicine.
Regulatory bodies like the FDA and EMA ensure safety and efficacy, and research institutions like Harvard Medical School contribute to breakthroughs. These entities collaborate synergistically, propelling healthcare forward while addressing global health challenges and striving for improved patient outcomes and accessibility worldwide.
On December 4, Roche Holding AG (OTC:RHHBY) declared their definitive merger agreement to purchase Carmot Therapeutics, Inc. (“Carmot”), a privately held US company located in Berkeley, California. Carmot’s research and development portfolio encompass clinical stage subcutaneous and oral incretins, showcasing significant potential to address obesity in patients with and without diabetes, alongside several preclinical programs. Roche Holding AG (OTC:RHHBY) continues to position itself as a pioneer in revolutionizing healthcare through tailored treatments for individual patients.
On November 17, Medtronic plc (NYSE:MDT) introduced an approach to addressing high blood pressure, marking a significant advancement in hypertension treatment. The officially approved medical device-based procedure is designed to aid individuals in the US coping with hypertension, commonly known as high blood pressure. The FDA granted approval for the utilization of the Medtronic plc (NYSE:MDT) Symplicity Spyral renal denervation system within the US. The system employs radio frequency to interrupt hyperactive nerves in the kidneys, contributing to the reduction of blood pressure.
On November 16, UnitedHealth Group Inc.’s (NYSE:UNH) Community Plan of Rhode Island achieved the Health Equity Accreditation from the National Committee for Quality Assurance (NCQA), acknowledging its dedication to offering culturally and linguistically sensitive healthcare services while actively working to diminish disparities in healthcare. This accreditation distinguishes organizations that excel in supporting internal cultures focused on health equity, collecting data for language services, and identifying opportunities to improve care and reduce health inequities. UnitedHealth Group Inc. (NYSE:UNH) remains steadfast in its dedication to delivering healthcare that is inclusive and equitable.
On December 12, Moderna, Inc. (NASDAQ:MRNA) disclosed operational changes to prioritize its immediate and long-term goals. The focus remains on sustaining COVID-19 vaccine sales, launching the RSV vaccine in 2024, and introducing multiple products annually from 2025. CEO Stephane Bancel will oversee 2024 sales and marketing, while President Stephen Hoge, M.D., will manage post-2024 launches and Medical Affairs. Chief Commercial Officer Arpa Garay is expected to leave soon but will advise Moderna, Inc. (NASDAQ:MRNA) during the transition.
Given this context, let’s now explore the top 20 countries for doctors to move to.
Methodology:
Our methodology for identifying the top 20 countries for doctors’ immigration involved a thorough selection process. From the Human Development Value Index, we filtered nations with a high value classification specifically as it is a significant indicator in evaluating the socio-economic status of nations and an overall standard of life. We categorically selected countries where doctors could practice without needing extensive re-education or re-training, ensuring a smoother licensing process, although recognizing the likelihood of prerequisite exams. We then explicitly focused on countries where English is the primary language for medical practice, and aimed to eliminate language barriers that doctors might encounter. Furthermore, we assessed the remuneration offered to medical professionals, gathering annual average salary data from PayScale, presented in USD, for easy comparison. This approach considered crucial factors such as licensing prerequisites, language accessibility, and financial prospects to determine the most suitable destinations for doctors seeking to immigrate.
20 Best Countries for Doctors to Immigrate to
20. Saint Lucia
HDI Rank: 106
Average Salary: $40,000
Foreign doctors wishing to practice in St. Lucia typically need to undergo an accreditation process, while the nation boasts an HDI rank of 106 and an annual average salary of $29,000.
19. Dominica
HDI Rank: 102
Average Salary: $37,000
Dominica demonstrates an HDI ranking of 102 and an average salary of $17,000, rendering it as an attractive destination for foreign doctors looking to work within its well-regulated borders.
18. Maldives
HDI Rank: 90
Average Salary: $38,000
In the Maldives, with an HDI rank of 90 and an average salary of $37,560, foreign doctors have the opportunity to practice as resort doctors on resort islands.
17. Saint Kitts & Nevis
HDI Rank: 75
Average Salary: $35,000
St. Kitts and Nevis, positioned at an HDI rank of 75, showcases a promising average salary of $30,680, underscoring its allure for both professional pursuits and a rewarding standard of living.
16. Antigua & Barbuda
HDI Rank: 71
Average Salary: $55,000
Antigua & Barbuda, features an impressive average salary of $55,000, reflecting its potential as an excellent opportunity for a medical career and a higher standard of living.
15. Grenada
HDI Rank: 68
Average Salary: $68000
Grenada ranks 68th in the HDI with an average salary of $68,000, making it an appealing choice for medical professionals seeking promising career prospects in a captivating island setting.
14. Thailand
HDI Rank: 66
Average Salary: $54,000
Thailand holds the 66th position in the HDI rankings and offers an average salary of $54,000, flaunting its appeal for doctors amidst a landscape featuring tropical beaches, majestic temples, and grand palaces.
13. Mauritius
HDI Rank: 63
Average Salary: $42,000
Mauritius, with an average doctor’s salary of $42,000, provides a chance for doctors to practice in a stunning island nation with a close-knit and appreciative community.
12. Malaysia
HDI Rank: 62
Average Salary: $60,000
Malaysia holds the 62nd position in the HDI rankings and offers an average salary of $21,000. Amidst its cultural diversity, Malaysia offers lucrative opportunities and a mix of modernity against a backdrop of natural beauty.
11. Bahamas
HDI Rank: 62
Average Salary: $63,000
Bahamas offers an average salary of $63,000, and HDI value ranked at 62, providing doctors the opportunity to work in a country renowned for its warm hospitality and breathtaking landscapes while advancing their medical careers.
10. Oman
HDI Rank: 54
Average Salary: $50,000
Oman, standing at the 54th position in the HDI rankings and offering an average salary of $40,000, ranks 10th on our list of best destinations for doctors to relocate to.
9. Kuwait
HDI Rank: 50
Average Salary: $56,000
In Kuwait, medical professionals have the chance to work within a futuristic Middle Eastern culture, with an average doctor’s salary of $56,000 and an HDI ranking of 50.
8. Qatar
HDI Rank: 42
Average Salary: $77,000
Qatar offers an average doctor’s salary of $77,000, providing a chance for doctors to contribute to a rapidly developing healthcare system while experiencing the country’s cultural blend and economic growth.
7. Andorra
HDI Rank: 40
Average Salary: $70,000
Andorra, with an average salary of $70,000 invites doctors to practice in a country that is appreciated globally for its natural beauty and a good quality healthcare system.
6. Saudi Arabia
HDI Rank: 35
Average Salary: $121,000
Saudi Arabia offers a lucrative opportunity for doctors with an average salary of $121,000, providing them with substantial financial rewards compared to many other countries. Additionally, Saudi Arabia has a HDI rank of 35, indicating a relatively high standard of living and well-being for its residents.
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Disclosure: None. 20 Best Countries for Doctors to Immigrate to is originally published on Insider Monkey.