Taking population size and growth into account, average per capita health spending in 2023–24 was $10,037. In real terms, this was $134 (1.3%) less per person than in 2022–23 (Figure 2). Prior to 2023–24, per capita spending grew modestly – rising by 2.4% in 2018–19 and 0.3% in 2019–20 – before accelerating to higher growth rates of 6.9% in 2020–21 and 5.8% in 2021–22. However, growth in per capita spending during 2022–23 and 2023–24 fell below the decade’s average annual increase of 1.7%.
The decline in per capita spending during 2022–23 and 2023–24 can be attributed to modest health expenditure growth and a sharp rise in population following the pandemic. In real terms, health spending recorded zero growth in 2022–23, followed by a modest increase of 1.1% in 2023–24 – both below the decade’s average annual growth rate of 3.2%. Meanwhile, population growth accelerated to 2.1% in 2022–23 and 2.4% in 2023–24, significantly higher than the average growth rates of 0.5% during the COVID-19 pandemic and 1.6% in the pre-pandemic period.
