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When European governments plan their budgets, health spending is too often framed as a cost to be contained. While defense demands urgency, and infrastructure promises growth, healthcare is boxed into short-term accounting and yearly budgets.

But the message at the latest Euronews debate “Healthy Returns: The Value of Investing in Healthcare”¹ was clear: this mindset is not only outdated, it’s dangerous.

Health as growth, not cost

Our panel of senior policymakers, healthcare leaders and industry experts agreed that healthcare should not be seen as a drain but as a driver: it’s one of Europe’s largest sectors, it generates almost 30 million jobs², and a tenth of the region’s wealth³.

“Illness is recession. Health is growth,” said Professor Dennis Ostwald, founder and CEO of the WifOR Institute. “We need to stop treating healthcare as a consumption item and start recognising it as Europe’s most powerful growth engine. More productivity means stronger GDP, more fiscal space, and greater resilience.”

“Illness is recession.