Health spending to outpace inflation by 1.1% in 2024

It slowed down in 2023 due to strikes and disruptions in hospitals.

Healthcare expenditure is seen to overtake inflation for the first time since 2021 after experiencing a decline in real terms in the past two years due to disruption, according to Economist Intelligence's healthcare outlook in 2024.

“This trend will change in 2024: although growth in health spending will slow to 6.1% in nominal US-dollar terms, it will outpace inflation, rising by 1.1% in real terms,” read the report in part.

Meanwhile, healthcare workers, patients, and taxpayers will remain dissatisfied with health provision in many countries, which will pressure governments. 

Countries such as China, Egypt, Nigeria and South Africa will continue to expand access to care, but voters are likely to resist reforms that entail additional taxes. 

“Public pressure will be particularly acute in countries facing elections in 2024, including the US, India, Mexico, South Korea and Indonesia,” read the report.