Global military spending increases at highest rate since Cold War: Report
A new report shows that global military spending increased by 9.4% from 2023 to 2024, representing the highest increase in military spending since the Cold War as the war between Russia and Ukraine and the war between Israel and Hamas continues amid rising tension across the globe.
According to the Stockholm International Peace Research Institute's new study, world military spending increased by roughly 9.4% in 2024 to $2718 billion, marking the '10th year of consecutive rises' and the highest increase in spending since 1988.
'Military spending increased in all world regions, with particularly rapid growth in both Europe and the Middle East,' the Stockholm International Peace Research Institute said. 'The top five military spenders—the United States, China, Russia, Germany and India—accounted for 60 per cent of the global total, with combined spending of $1635 billion.'
According to the study, each of the world's top 15 spenders in 2024 increased their military spending, while the 'global military burden' increased to 2.5% of global gross domestic product in 2024.
'Over 100 countries around the world raised their military spending in 2024,' Xiao Liang, a Stockholm International Peace Research Institute researcher, said. 'As governments increasingly prioritize military security, often at the expense of other budget areas, the economic and social trade-offs could have significant effects on societies for years to come.'
READ MORE: Video: Pentagon cuts $5.1 billion in 'wasteful spending' in new wave of DOGE cuts
The report indicated that in addition to the increased global military spending in 2024, many nations have 'committed to raising military spending,' which is expected to 'lead to further global increases in the coming years.'
According to the report, the United States was the biggest military spender in 2024, with nearly $1 trillion in military spending, while China was the second highest military spender, with roughly $314 billion in military spending.
The Stockholm International Peace Research Institute noted that China increased military spending by 7% in 2024, marking the country's 30th consecutive increase in military spending and maintaining 'the largest unbroken streak recorded' in the research institute's database.
The Stockholm International Peace Research Institute's study showed that Russia's military spending increased by at least 38% in 2024; however, the research institute estimated that Russia's military spending was likely higher since it supplements military spending from other sources.
The study also showed that Germany's military spending increased by 28%, Romania's spending increased by 43%, the Netherlands' spending increased by 35%, Sweden's spending increased by 34%, the Czech Republic's spending increased by 32%, Poland's spending increased by 31%, and Denmark's spending increased by 20%.
Additionally, Norway increased military spending by 17%, Finland increased spending by 16%, Turkey increased spending by 12%, and Greece increased spending by 11%.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
26 minutes ago
- Yahoo
Milei says Argentina to move Israel embassy to Jerusalem in 2026
Argentine President Javier Milei said Wednesday his country would in 2026 move its embassy in Israel to Jerusalem, the status of which is one of the most delicate issues in the Israel-Palestinian conflict. "I am proud to announce before you that in 2026 we will make effective the move of our embassy to the city of west Jerusalem, as we promised," Milei said in a speech in the Israeli parliament during an official state visit. Argentina's embassy is currently located in Herzliya near the coastal city of Tel Aviv. This is Milei's second visit to Israel since being elected in 2023. His previous trip, in February 2024, was his first official state visit outside of Argentina. During that trip he announced plans to move Argentina's embassy to Jerusalem -- a controversial move that echoed US President Donald Trump's shock 2017 decision to unilaterally recognise Jerusalem as Israel's capital. Israel has occupied east Jerusalem since 1967, later annexing it in a move not recognised by the international community. Israel treats the city as its capital, while Palestinians want east Jerusalem to become the capital of a future state. Most foreign embassies to Israel are located in the coastal hub city of Tel Aviv in order to avoid interfering with negotiations between Israelis and Palestinians. Speaking ahead of Milei's address to parliament on Wednesday, Israeli Prime Minister Benjamin Netanyahu said "the city of Jerusalem will never be divided again." Several countries, including the United States, Paraguay, Guatemala, Honduras and Kosovo, have moved their embassies to Jerusalem, breaking with international consensus. - 'Stand firm' - In 2017, during his first term as US president, Trump unilaterally recognised Jerusalem as Israel's capital, sparking Palestinian anger and the international community's disapproval. The United States transferred its embassy to Jerusalem in May 2018. Milei, who has professed a deep interest in Judaism and studied Jewish scripture, is one of Israel's staunchest defenders. As Israel faces mounting international pressure over the dire humanitarian situation in Gaza after more than 20 months of war, Milei sought to express his support. "As a nation, we want to stand firm alongside you as you go through these dark days, we will not yield to criticism resulting from cowardice or complicity with barbarism," he said on Tuesday during a meeting with Israeli President Isaac Herzog. He also demanded the "unconditional return of the four Argentines still in captivity" in Gaza after Hamas's October 7, 2023 attack on Israel triggered the war. The Palestinian militant group's attack resulted in the deaths of 1,219 people on the Israeli side, mostly civilians, according to an AFP tally of official figures. The health ministry in Hamas-run Gaza says the retaliatory Israeli military offensive has killed at least 55,104 people, the majority civilians. The United Nations considers these figures to be reliable. Out of 251 taken hostage during the Hamas attack, 54 are still held in Gaza including 32 the Israeli military says are dead. lma-acc/ysm
Yahoo
26 minutes ago
- Yahoo
US threatens allies: we will retaliate if you attend UN Palestine summit
Donald Trump's administration has threatened allies with consequences if they attend an upcoming UN conference on a possible two-state solution between Israel and Palestine. The diplomatic demarche, sent on Tuesday, says countries that take 'anti-Israel actions' following the conference will be viewed as acting in opposition to US foreign policy interests and could face diplomatic consequences from Washington, Reuters reported. France and Saudi Arabia are co-hosting the gathering next week in New York that aims to lay out the parameters for a roadmap to a Palestinian state, while ensuring Israel's security. 'We are urging governments not to participate in the conference, which we view as counterproductive to ongoing, lifesaving efforts to end the war in Gaza and free hostages,' read the cable. Emmanuel Macron has suggested France could recognise a Palestinian state in Israeli-occupied territory at the conference. French officials say they have been working to avoid a clash with the US, Israel's staunchest major ally. 'The United States opposes any steps that would unilaterally recognise a conjectural Palestinian state, which adds significant legal and political obstacles to the eventual resolution of the conflict and could coerce Israel during a war, thereby supporting its enemies,' the cable read. This week Britain and Canada, also G7 allies of the United States, were joined by other countries in placing sanctions on two Israeli far-Right government ministers to pressure prime minister Benjamin Netanyahu to bring the Gaza war to an end. 'The United States opposes the implied support of the conference for potential actions including boycotts and sanctions on Israel as well as other punitive measures,' the cable read. Israel has repeatedly criticised the conference, saying it rewards Islamist Hamas militants for the Oct. 7, 2023 attack on Israel that triggered the Gaza war, and it has lobbied France against recognising a Palestinian state. The US State Department and the French foreign ministry did not immediately respond to requests for comment. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Yahoo
26 minutes ago
- Yahoo
Hegseth says troops in LA are lawful. He just can't explain why.
Defense Secretary Pete Hegseth on Wednesday insisted the Pentagon's deployment of troops to Los Angeles was lawful. He just couldn't cite the law he was following. The Pentagon chief clashed with several lawmakers at a Senate budget hearing as he sought to defend President Donald Trump's decision to send thousands of troops, including 700 active-duty Marines, to California in response to mass deportation protests. But when asked to explain the legal underpinning that justifies the Marine deployment, the Defense secretary blanked. 'I'd have to pull up the specific provision,' he told Sen. Tammy Baldwin (D-Wis.). 'But our Office of General Counsel, alongside our leadership, has reviewed and ensured, in the order that we set out, that it's completely constitutional for the president to use federal troops to defend federal law enforcement.' When Baldwin pushed again, Hegseth said, 'It's in the order, ma'am, but we'll make sure we get it to you as well.' Hegseth, a former Fox News anchor who appears calm in front of the camera, faced a tougher time at Wednesday's Senate defense appropriations subcommittee than he did at a House budget hearing the day before. Democrats peppered him with questions about the domestic deployments, research budget cuts and the impact of tariffs on the defense industrial base. Republicans largely avoided focusing on Los Angeles, although they lashed out at him on Trump's tardy budget and approach to Ukraine. The Defense secretary argued the deployments to Los Angeles and along the southern border, where the military has 13,000 National Guard and active-duty troops, are necessary to protect the country. 'We very much support President Trump's focus on defending [the] homeland on our southern border,' he said, 'as well as supporting law enforcement officials doing their job in ICE in Los Angeles who deserve not to be assaulted, accosted and rioted while rounding up one of the 21 million illegals allowed in as an invasion under the previous administration.' But Democrats questioned whether the moves violated laws that govern the use of the military on U.S. soil. Sen. Brian Schatz (D-Hawaii) pressed Hegseth and Joint Chiefs Chair Gen. Dan Caine about the argument underpinning the orders. 'Is the United States being invaded by a foreign nation?' he asked. 'I don't see any foreign state-sponsored folks invading,' Caine replied. Sen. Chris Murphy (D-Conn.) raised concerns about Trump politicizing the military, asking Hegseth whether he supported deploying the National Guard to the Capitol in response to the Jan. 6, 2021, insurrection that sought to overturn the election. Hegseth would not say. 'All I know is it's the right decision to be deploying the National Guard in Los Angeles to defend ICE agents,' he said. Murphy called Hegseth's response evidence of a double standard. 'You are not willing to defend against attacks made on our democracy by supporters of the president, but you are willing to deploy the National Guard to protect against protestors who are criticizing the president,' he said. But it was Sen. Jack Reed (D-R.I.), the usually restrained Senate Armed Services Committee's ranking member, who was the most forceful in tone. He raised alarms about the Los Angeles deployment, as well as several Homeland Security requests for 20,000 more troops to assist at the border, for 'military forces to detain or arrest American citizens,' and to provide drone surveillance. 'Is it your intent to approve these requests?' Reed asked. 'Are you prepared to authorize DHS to use drones and also to authorize military forces to detain or arrest American citizens?' Hegseth did not respond directly, but defended the administration's actions. 'Every authorization we've provided the National Guard and the Marines in Los Angeles is under the authority of the President of the United States — is lawful and constitutional,' he said. 'They are assisting in defending law enforcement officers … executing their job in the city of Los Angeles.'
