Journal of Applied Finance & Banking

The Importance of Health Sector in Economies of Countries: The Case of Germany

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• Abstract

  In order to understand the importance of health sector, it is needed to investigate it’s scope. By this way, possible contribution of health sector to a country’s economy can be analyzed in a better way. In recent years, this sector has become a locomotive of the German economy. Although the global financial crisis in 2008 caused the crisis in Europe and consequently the Euro crisis, the German health sector has continued to grow. More than 25% of the new jobs emerged in the health sector despite the economic crisis. In the introduction part of this study, detailed information about the health sector is provided. In the second part, one of the important components of the health sector: statutory health insurance sector is handled. In the third part of this article, attention is given to the importance of private health insurance sector which is the other important element of the health insurance sector. Moreover, its substantial contribution to the community is discussed. Finally in the last section, conclusions and the results derived are presented.