Robin van Persie has urged Arsenal boss Arsene Wenger to splash the cash this summer in order to avoid being left behind next season.
Wenger is fighting to keep two of his key players, with captain Cesc Fabregas and midfield ace Samir Nasri not guaranteed to be plying their trade at Emirates Stadium next term.
The French boss has already moved to wrap up a deal for Lille striker Gervinho, but striker Van Persie feels the Gunners need to bring in more reinforcements if they are to keep up with their top-four rivals.
"The way I feel now is that a few signings are more than welcome," Van Persie told the Daily Mail.
"Every other team is buying quality players, so hopefully we will do the same.
"You need investment to keep up. When you look around, you see Manchester City are buying loads of good players, Liverpool are doing it now and Manchester United have been doing it for years.
"In a way, you need to keep that up because if everyone is doing something you need to do it as well. I think it's a good thing that we have competition because no one really wants to go to sleep.
"In an ideal world, no one (should be) really sure of his place (in the team). Maybe the captain and the goalkeeper but all the other players shouldn't really know before that they will play. It's always good to have competition and be on your toes."
Van Persie is aware Arsenal may have to pay big money to ensure the services of a quality player.
"These days, proper players cost money,' said the 27-year-old Dutchman.
"Sometimes you see players go for loads of money and you think, 'Is he that good?' They are, most of the time, but sometimes there can be a statement for the others as well.
"The main thing is, it is not just a label, a multi-million pound signing. It's about the quality.
"If you buy a player who has got one year left, normally he's not going to be worth 40 or 50 million, he'll be a bit less."