Lenstore has analysed the spending habits of 24 countries, looking into how much the government spends on their healthcare system vs other sectors, as well as looking at the spending habits of consumers on luxury items vs healthcare necessities.
In 2020, healthcare systems around the world were heavily tested, with governments increasing their spending to provide the best services possible. As we enter 2021, many of us will be conscious about our health. Lenstore’s research reveals which countries are spending the most on their healthcare per capita, but one question remains – how much does your government care about you?
You can view their full study here.
The US spend more on healthcare than any other country in terms of GDP
When analysing the share of the economy attributed to healthcare, the US had the highest percentage of gross domestic product spent with 9.2% reserved for health services. Norway and Denmark were the next top spenders, each spending 8.2% of gross domestic product on healthcare.
In Chile, on the other hand, only 4.4% of gross domestic product was spent on healthcare. Hungary and Poland also only spent 4.6% on healthcare services, marking all three as the countries which invest the least in healthcare services.
Ireland ranks as the best country for healthcare spend per capita
The top 10 countries with the highest spending on healthcare per capita
|Rank||Country||Healthcare per Capita (£)||Healthcare Spend of GDP (%)|
Despite spending a much lower percentage of its gross domestic product compared to other countries, Ireland ranks as the top country for the amount spent on healthcare per capita, equating to £16,746.74. Due to the size of the country, Ireland is able to benefit from its lower population allowing for higher amounts of spending from its government to provide care for its residents.
Iceland follows Ireland in second place, spending £10,076.28 per person on healthcare. In comparison to Ireland, this is a much higher percentage of its gross domestic product, sitting at 7.8%. Norway rounds off the top three countries, spending a total of 8.2% of its gross domestic product on its healthcare system. With this comes a high amount spent per capita, totalling £9,866.79.
For more information, please visit Lenstore’s website.
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