Military, global spending record in 2024 - European costs register highest increase since the Cold War
Military spending worldwide saw its biggest increase in 2024 since the end of the Cold War, reaching $2.7 trillion, as wars and tensions fueled the expansion of spending, according to researchers.
Military costs saw particularly large increases in Europe and the Middle East, according to a new report from the Stockholm International Peace Research Institute (SIPRI).
Several European countries had seen "unprecedented" increases in their military spending, the report noted.
In real terms, costs rose by 9.4 percent globally compared to 2023, with 2024 marking the 10th consecutive year of spending increases. More than 100 countries increased their military budgets last year, the report said.
The main contributor to the increase in spending was the European region, including Russia, where spending rose by 17 percent, to $693 billion.
All European states, except Malta, expanded their budgets, "pushing the continent's military spending beyond the level recorded at the end of the Cold War."
Russia’s military spending reached $149 billion in 2024: a 38% increase compared to the previous year and a doubling since 2015. Ukraine’s military costs rose by 2.9% to $64.7 billion. While this amount corresponds to only 43% of Russia’s arms spending, in Ukraine’s case it is equivalent to 34% of its GDP. This means that Kiev bears the highest military burden of any country.
Germany's spending rose by 28% to $88.5 billion, surpassing India as the world's fourth-largest spender.
The world's biggest spender, the US, increased its spending by 5.7%, to $997 billion. This alone accounts for 37% of global spending and 66% of military spending among NATO countries. Total military spending by the 32 members of the alliance rose to $1.5 trillion.
Military budgets also increased drastically in the Middle East, reaching an estimated $243 billion, a 15 percent increase from 2023.
China, the world's second-largest spender, increased its military budget by 7 percent, reaching about $314 billion, "marking three decades of consecutive growth."
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