Do nations with greater wealth generally spend a larger portion of their economy on healthcare?
Even though healthcare is often considered to be a necessity, national healthcare spending generally rises with income. This is one of the primary drivers of healthcare spending. Per the Handbook of Health Economics, a "common and extremely robust result of international comparisons is that the effect of per capita GDP (income) on [healthcare] expenditures is clearly positive and significantâ¦.." A graph of this relationship is located at the link below.
DocumentationWealth & Healthcare Spending