Investing in population health yields broad health, social and economic benefits—yet many still view health spending solely as a moral obligation rather than an economic advantage.
In Germany, a debate has been unfolding about the affordability of healthcare, the restructuring of its health system and where to make cuts.[1] With ageing populations across Europe, this is a reality that sooner or later most European societies will be confronted with. The persistent misconception is that health is merely a cost, when in fact it should be looked at as an investment. Healthy populations are the foundation of functioning societies, development, security and thriving sustainable economies.[2]
The covid‑19 pandemic made it clear: investing in health is more than a humanitarian cause; it is a strategic decision. Health investments have catalytic effects beyond the health sector, reducing future costs, enhancing societal resilience and bolstering long‑term economic growth. Research by the Pandemic Fund illustrates this potential, indicating that each $1 spent on public‑health preparedness can generate roughly $14 in health and economic returns.[3]
Nevertheless, with public finances under strain, health spending is often treated primarily as an expense to be contained. This approach risks overlooking the long‑term view: prevention and preparedness require re
The cost of inaction is stark. The covid‑19 pandemic resulted in an estimated $12.5 trn in global economic losses and over 7 million earnings and productivity, delivering benefits that extend well beyond health. Consequently, there is a strong economic case for such investments.
The case for health investment also extends beyond economic returns. With rising security concerns, the need for resilient health systems becomes even stronger. In 2026, European governments are prioritising defence and security while reassessing other areas of public spending.[6] Health must be part of that conversation. Robust health systems are a core component of both human and national security. Risks range from pandemics and deliberate biological events to hybrid threats against critical health infrastructure, including hospitals. In every scenario, a country’s health system plays a crucial role in protecting its population and maintaining essential services.
Health is a core pillar of human and national security. This year, multiple incidents of hybrid attacks on infrastructure have been reported in Germany and Europe, including cyber‑attacks on hospital IT and emergency‑department operations in Berlin.[7] Such events remind us that health systems are themselves critical infrastructure that need protection and should be included in ongoing security discussions. We must consider health, economic resilience and security together.
We should treat health spending with the same rigour as any strategic investment. Labeling it an investment means asking what it is likely to achieve, over what period, and whether its expected health, social and economic returns justify the resources committed. This is especially challenging in politics, where annual budgets highlight current spending while the full benefits may materialise years later. Sound decisions require assessing both with equal care, based on data and evidence, and investing where a positive return is reasonably expected.
These discussions will be central to the upcoming World Health Summit 2026.[8] With its overarching theme “From Crisis to Resilience: Innovating for Health”, the summit will focus on how to turn innovation into future‑ready systems.
The challenge, however, extends far beyond the summit and the health sector. Building resilient societies requires us to recognise health, economic resilience and security as deeply interconnected, and to rethink how we value and invest in health.
References
1. Reuters. Germany’s lower house of parliament passes healthcare reform [Internet]. 2026 Jul 10 [cited 2026 Sep 29]. Available from:
2. Business at OECD (BIAC). Health as an Economic Imperative — Business at OECD (BIAC) Health Forum 2024 Synthesis Report [Internet]. Paris: Business at OECD (BIAC); 2025 Mar [cited 2026 Sep 29]. Available from: %20Groups/20.%20Health/FIN-2025-03%20Health%20as%20an%20Economic%20Imperative%20-%20Business%20at%20OECD%20%28BIAC%29%20Health%20Forum%202024%20Synthesis%20report.pdf
3. The Pandemic Fund. Building Pandemic Resilience: The Time Is Now. Investment Case 2025-2027 [Internet]. 2024 Jul [cited 2026 Sep 29]. Available from: %20Case.pdf
4. World Bank. Health Emergencies [Internet]. Washington (DC): World Bank; Updated 2026 [cited 2026 Sep 29]. Available from:
5. World Bank. Pandemics [Internet]. Washington (DC): World Bank; Updated 2026 [cited 2026 Sep 29]. Available from:
6. Conigrave, B. and Y. Shin. Fiscal and macroeconomic impacts of defence spending [Internet]. OECD Economics Department Working Papers, No. 1861. Paris: OECD Publishing; 2026 Mar [cited 2026 Sep 29]. Available from: _b4860378-en.html
7. Deutsche Welle. Berlin hospitals threatened by spate of attacks [Internet]. 2026 Feb 6 [cited 2026 Sep 29]. Available from:
8. World Health Summit. World Health Summit 2026: From Crisis to Resilience: Innovating for Health. 2026. Available from:
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