Stockholm - (Saba):
The Stockholm International Peace Research Institute (SIPRI) revealed that global military spending reached a new record high in 2024 for the tenth consecutive time, surpassing the previous year's figures.
According to the report issued by the institute, inflation-adjusted spending rose by 9.4% to $2.72 trillion, the largest annual increase since at least the end of the Cold War.
The following are the most prominent trends in military spending in 2024:
1. Europe: Largest increase, 17%
Spending on the continent increased to $693 billion, with increases in all countries except Malta.
Russia: Military spending jumped 38% to $149 billion.
Ukraine: Spending reached $64.7 billion (34% of GDP), the highest in the world in terms of military burden.
Germany: Became the fourth-largest military spender globally ($88.5 billion, up 28%), topping Western European countries for the first time since reunification.
2. The United States and China: Global Leaders
The United States maintained its first place ($997 billion, representing 37% of the global total).
China: The second-largest spender ($314 billion, up 7%), continuing its three-decade-long growth in spending.
3. The Middle East: Up 15%
Spending in the region reached $243 billion, with significant increases in:
Israel ($46.5 billion, up 65%).
Lebanon ($635 million, up 58%).
While Iran's spending decreased ($7.9 billion, down 10%) due to sanctions.
4. NATO: Record Spending
Alliance countries spent $1.5 trillion, with 18 countries exceeding the 2% of GDP threshold.
European member states contributed $454 billion (30% of NATO's total spending).
The report also shows that the world is witnessing a shift towards an escalating arms race, with a clear focus on Europe and the Middle East amid ongoing geopolitical tensions.
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