Europe, in addition to its country‐specific studies of the cost of diabetes care, now has one source of data—the CODE‐2 Study—by means of which between‐country comparisons can be made in the knowledge that the same method of study has been advocated throughout. This information, however, is applicable only to the established market‐economy countries that took part. The economic impact of diabetes and its related conditions in eastern European and the former Soviet Union countries is virtually undocumented. In all continents there is still a long way to go before we have reasonably robust, comparable data on these issues. However, it is clear from the data we do have to hand that diabetes and, in particular, its complications have a large economic impact both directly and indirectly. This impact falls on individuals, families, the health care sector, and society in general. It is also clear that some methods for the delivery of diabetes health care are more cost‐effective than others, but it is also likely (though as yet untested) that the most cost‐effective approach of all is the primary prevention of the condition.