What's happened
In 2024, global military expenditure reached $2.7 trillion, marking the steepest rise since the Cold War. The increase was driven by heightened geopolitical tensions, particularly in Europe and the Middle East, with significant contributions from the US, Russia, and Israel. This trend reflects ongoing conflicts and strategic military expansions.
What's behind the headline?
Key Insights
- Unprecedented Increases: Military spending rose by 9.4% globally in 2024, the highest annual increase since the Cold War. This trend indicates a shift in global priorities towards defense amid rising tensions.
- Regional Variations: Europe saw a 17% increase, with countries like Germany and Israel significantly boosting their budgets. Israel's military spending surged by 65% due to ongoing conflicts, reflecting its strategic focus on defense.
- US Dominance: The United States remains the largest military spender, accounting for 37% of global expenditure. Its budget increase is largely aimed at modernizing forces and countering threats from Russia and China.
- Economic Trade-offs: Increased military budgets often come at the expense of social programs and international aid, raising concerns about long-term socio-economic impacts.
- Future Implications: As military spending continues to rise, countries may face difficult budgetary decisions, potentially leading to increased taxes or cuts in other areas. This trend could reshape global alliances and defense strategies in the coming years.
What the papers say
According to the Stockholm International Peace Research Institute (SIPRI), military spending reached $2.72 trillion in 2024, marking a significant increase from previous years. The New Arab highlights that this rise is particularly pronounced in Europe and the Middle East, with SIPRI researcher Xiao Liang stating, "This was really unprecedented."
The Times of Israel notes that Israel's military expenditure surged by 65% to $46.5 billion, the largest increase since the Six Day War in 1967, driven by ongoing conflicts with Hamas. In contrast, Iran's military spending fell by 10%, illustrating the varied responses to regional threats.
The South China Morning Post emphasizes that the US, China, and Russia remain the top military spenders, with the US increasing its budget by 5.7% to $997 billion. This reflects a strategic focus on modernizing military capabilities to maintain a competitive edge against adversaries. The report underscores the growing military budgets in East Asia, particularly due to concerns over China's military expansion, as noted by SIPRI's Xiao Liang, who stated that China's spending has contributed to regional tensions.
How we got here
The rise in military spending is attributed to escalating geopolitical tensions, particularly following conflicts in Ukraine and the Middle East. Countries have prioritized defense budgets amid fears of potential threats, leading to a decade of consecutive increases in military expenditure.
Go deeper
- What factors are driving the increase in military spending?
- How does this impact international relations?
- What are the implications for social programs in these countries?
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What are the latest trends in global military spending?
Global military spending has reached unprecedented levels, with a recent report highlighting a significant increase driven by geopolitical tensions. As nations ramp up their defense budgets, many are left wondering what this means for international relations and security. Below, we explore key questions surrounding this surge in military expenditure.
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What are the current trends in global military spending?
Global military spending has reached unprecedented levels, with a total expenditure of $2.7 trillion in 2024. This surge is influenced by various geopolitical factors, particularly in Europe and the Middle East. Understanding these trends can help us grasp the shifting dynamics of global security and military priorities.
More on these topics
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Stockholm International Peace Research Institute (SIPRI) is an international institute based in Stockholm, Sweden. It was founded in 1966 and provides data, analysis and recommendations for armed conflict, military expenditure and arms trade as well as...
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China, officially the People's Republic of China, is a country in East Asia. It is the world's most populous country, with a population of around 1.4 billion in 2019.
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Japan is an island country of East Asia in the northwest Pacific Ocean. It borders the Sea of Japan to the west and extends from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south.
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Russia, or the Russian Federation, is a transcontinental country located in Eastern Europe and Northern Asia. Covering an area of 17,125,200 square kilometres, it is the largest country in the world by area, spanning more than one-eighth of the Earth's in
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Ukraine is a country in Eastern Europe. It is the second-largest European country after Russia, which borders it to the east and northeast.
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Iran, also called Persia, and officially the Islamic Republic of Iran, is a country in Western Asia. It is bordered to the northwest by Armenia and Azerbaijan, to the north by the Caspian Sea, to the northeast by Turkmenistan, to the east by Afghanistan a