The Gunners finished fourth last season but Wenger believes the club's improving financial situation can also boost their title bid.
He said: "When I committed to my last contract the club was going through a very sensitive period because we had less financial resources than other clubs and it was difficult to stay at the top in the Champions League.
"But we are coming out of that period and I hope that in the next two to three years this club will be competing every year for the Premier League title.
"It is important for everyone who loves the game that every team has a fair chance to win the Premier League.
"But now it is not about who develops players within the club, the quality of their game or the attitude - it's just about who buys the next star.
"It's a bit like you start a 100 metres race tomorrow and suddenly somebody buys Usain Bolt.
"I don't know how quick you are, but that will be a problem for you."