Countries around the world allocate their national budget depending on the demand and priorities of their population. For instance, among the list of the standard and highly important expenses that government focus on are education, military, infrastructure, and most importantly, healthcare.
Because of the varying needs of these sectors, administrations have to prioritize some over the others. This list gives you the countries with the highest allocated budget on healthcare in the world.
As one of the wealthiest and most culturally diverse countries in the world, the United States’ annual spending on healthcare ranks as the first and top compared to other countries with similar life expectancy, allocating 17.1 percent (based on 2014 data) of the GDP on health services. That’s equivalent to an average of over $9,000 dollars per person. Looking at the data from 1995, there was an increase in budget distribution in 2014 and it can be credited to the Obamacare reforms that opened more opportunities and benefits for healthcare services.
Did you know that per 1,000 people in Sweden (based on 2013 data), there were four practicing physicians available? This is thanks to the country’s jump in health spending that has reached 11.9 percent in 2014. Furthermore, these changes have boosted their population’s life expectancy to 84.7 years (2014).
With 11.7 percent of GDP allocated to healthcare, Switzerland became 2013’s second highest spending country ($6,325 per person) in the world with a life expectancy of 82.9 years. The country has been topping rankings among many others, revealing a 66 percent increase in health expenditure from its 1995 to 2014.
According to the 2014 expenditure statistics, Haiti recorded a 13.2 percentage of GDP expenditure per capita—that’s $61.50—and as the World Health Organization (WHO) noted, the country’s annual spending has more than doubled from its 1995 budget of 6.6 percent.