This article aims to conduct a comparative analysis of the economic, social and institutional dimensions of the development of medical tourism in various countries, using examples from Southeast and South Asia. It examines trends in the development of medical tourism since the mid-20th century and identifies the challenges and distinctive characteristics of medical tourism markets in relation to cultural diversity and national regulatory peculiarities. Particular focus is given to exploring the positive and negative aspects of medical tourism, examining the dynamic changes in patient preferences and geographic mobility patterns, as well as the economic contribution of medical tourism to national economies. Medical tourism significantly influences the global economy and healthcare systems, thus necessitating improvements in regulatory frameworks and quality control of medical services. The article conducts a comparative analysis of medical tourism trends and practices, particularly in India, Thailand, and Malaysia, and evaluates the pros and cons of state regulation and market mechanisms. The findings demonstrate that the efficient development of medical tourism hinges on clear legal norms, transparent information dissemination and the integration of digital technologies. The importance of government influence on setting professional standards and promoting national medical tourism brands on the global stage is emphasised. There is a need to enact legislative acts and uniform criteria for assessing the quality of medical services in order to increase confidence among foreign patients and strengthen the international competitiveness of Russian medical institutions. The negative phenomena associated with medical tourism are examined, including the risk of reducing the efficiency of local healthcare systems, breaching legal norms and creating communication barriers. The author argues for advancing regulatory frameworks and state-supported initiatives that focus on integrating innovative management approaches and digital interactions with patients, as well as introducing international standards into the Russian medical tourism system. The potential for involving different regions of Russia in medical tourism is discussed, with the aim of alleviating pressure on major urban centres and enhancing the competitiveness of medical tourism services in global markets.