The Frenchman believes the game at St James' Park showed they had strength by avoiding defeat, and reveals he will splash out on new players but only if they are up scratch
The Arsenal manager saw his side dominate for the majority of the game but fail to find the touch of class needed when in the final third, meaning they had to settle for a goalless draw.
Newcastle failed to threaten goalkeeper Wojciech Szczesny for much of the game, leaving Wenger quite satisfied with his team’s performance.
"If we were not solid enough we would have lost the Newcastle game," Wenger told reporters.
"A point is not enough for us but it is a good basis to start the season.
"It is a difficult one for us. The media environment is not positive and the only way we can convince people is to show the attitude, desire and hunger we had on Saturday."
The Frenchman also pleaded with Arsenal fans to judge his players on how they perform, not their price tags.
Wenger has signed Southampton starlet Alex Oxlade-Chamberlain in a deal that could be worth as much as £15 million, and has also spent in excess of £10m on Lille winger Gervinho, and has not ruled out spending more before the window shuts.
He continued: "Sometimes I think that the credit a player gets is linked to the amount of money paid for them.
"When I look at Gervinho I think that he is a great player and I forget how much he cost. It is frustrating because it looks like the players are judged on the money they cost.
"We have all our scouts all over the world and we look everywhere.
"We are not scared to spend money if we find the right player. But spending money is not the right target in itself, we want to find the right player and whether it is for £2 million or £20 million we will do it."