South Korea provides Tax Refunds in Plastic Surgery to recover from MERS
Are you aware of the huge wave of MERS (Middle East respiratory syndrome coronavirus) that stroke South Korea earlier this year. The effect of MERS in plastic surgery was quite serious because it brought about a fall of 40% in tourism (it’s impressive that there was a 75% reduction in tourism from Hong Kong and a 76% reduction in tourism from Taiwan) . To tackle these conditions the government decided to put tax breaks for tourists’ plastic surgery starting in April 2016.
The amount of reimbursment is at 10% in plastic surgery procedures like breast surgery, liposuction or facelifts. South Korea is strongly depended on Plastic Surgery and before MERS appear they had an annoual growth rate of foreign tourists that visited South Korea for Plastic Surgery at 70%. 70.5% of these tourists were coming from China and with these measure the government expects to reach such numbers pretty soon.
Why we focus on South Korea? South Korea is a hot spot in terms of plastic surgery while 5% of the total plastic surgeries that took place during 2015, were carried out in South Korea while 2% of the South Koreans have undergone a plastic surgery.