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
21 minutes ago
Canada plans to hit NATO spending target early and reduce US defense reliance, Carney says
TORONTO -- Canada will meet NATO's military spending guideline by early next year and diversify defense spending away from the United States, which he says no longer plays a predominant role on the world stage, Prime Minister Mark Carney said Monday. Carney said Canada will achieve NATO's spending target of 2% of gross domestic product five years earlier than it had previously planned. 'Our military infrastructure and equipment have aged, hindering our military preparedness," Carney said. 'Only one of our four submarines is seaworthy. Less than half of our maritime fleet and land vehicles are operational. More broadly we are too reliant on the United States.' According to NATO figures, Canada was estimated to be spending 1.33% of GDP on its military budget in 2023, below the 2% target that NATO countries have set for themselves. Canada previously said it was on track to meet NATO's spending target by the end of the decade. 'Our goal is to protect Canadians, not to satisfy NATO accountants,' Carney said. The announcement of increased spending came as Canada is about to host U.S. President Donald Trump and other leaders at a summit of the Group of Seven leading industrialized nations in Alberta on June 15-17, and before the NATO summit in Europe. It also comes as NATO allies are poised to increase the commitment well beyond the 2% target. NATO Secretary-General Mark Rutte said last week that most U.S. allies at NATO endorse Trump's demand that they invest 5% of gross domestic product on their defense needs and are ready to ramp up security spending even more. Carney has said that he intends to diversify Canada's procurement and enhance the country's relationship with the EU. 'We should no longer send three quarters of our defense capital spending to America,' Carney said in a speech at the University of Toronto. 'We will invest in new submarines, aircraft, ships, armed vehicles and artillery, as well as new radar, drones and sensors to monitor the seafloor and the Arctic.' Canada has been in discussions with the European Union to join an EU drive to break its security dependency on the United States, with a focus on buying more defense equipment, including fighter jets, in Europe. Carney's government is reviewing the purchase of U.S. F-35 fighter jets to see if there are other options. 'We stood shoulder to shoulder with the Americans throughout the Cold War and in the decades that followed, as the United States played a predominant role on the world stage. Today, that predominance is a thing of the past,' Carney said in French. He added that with the fall of the Berlin Wall in 1989, the United States became the global hegemon, noting its gravitational pull, always strong, became virtually irresistible and made the U.S. 'our closest ally and dominant trading partner.' 'Now the United States is beginning to monetize its hegemony: charging for access to its markets and reducing its relative contributions to our collective security,' Carney said. The prime minister said that "a new imperialism threatens.' 'Middle powers compete for interests and attention, knowing that if they are not at the table, they will be on the menu," Carney said. Trump's calls to make Canada the 51st U.S. state have infuriated Canadians, and Carney won the job of prime minister after promising to confront the increased aggression shown by Trump. Carney said that the long-held view that Canada's geographic location will protect Canadians is becoming increasingly archaic. full-scale invasion of Ukraine on Feb. 24, 2022.
San Francisco Chronicle
22 minutes ago
- San Francisco Chronicle
Canada plans to hit NATO spending target early and reduce reliance on US defense, Carney says
TORONTO (AP) — Canada will meet NATO's military spending guideline by early next year and diversify defense spending away from the United States, Prime Minister Mark Carney said Monday, asserting that Washington no longer plays a predominant role on the world stage. The announcement means Canada will achieve NATO's spending target of 2% of gross domestic product five years earlier than previously planned. 'Our military infrastructure and equipment have aged, hindering our military preparedness," Carney said. 'Only one of our four submarines is seaworthy. Less than half of our maritime fleet and land vehicles are operational. More broadly, we are too reliant on the United States.' According to NATO figures, Canada was estimated to be spending 1.33% of GDP on its military budget in 2023, below the 2% target that NATO countries have set for themselves. Canada previously said it was on track to meet NATO's target by the end of the decade. 'Our goal is to protect Canadians, not to satisfy NATO accountants,' Carney said. Canada is about to host U.S. President Donald Trump and other leaders at a summit of the Group of Seven leading industrialized nations in Alberta on June 15-17, and before the NATO summit in Europe. NATO allies are poised to increase the commitment well beyond the 2% target. NATO Secretary-General Mark Rutte said last week that most U.S. allies at NATO endorse Trump's demand that they invest 5% of gross domestic product on their defense needs and are ready to ramp up security spending even more. Carney has said he intends to diversify Canada's procurement and enhance the country's relationship with the EU. 'We should no longer send three-quarters of our defense capital spending to America,' Carney said in a speech at the University of Toronto. 'We will invest in new submarines, aircraft, ships, armed vehicles and artillery, as well as new radar, drones and sensors to monitor the seafloor and the Arctic.' Canada has been in discussions with the European Union to join an EU drive to break its security dependency on the United States, with a focus on buying more defense equipment, including fighter jets, in Europe. Carney's government is reviewing the purchase of U.S. F-35 fighter jets to see if there are other options. 'We stood shoulder to shoulder with the Americans throughout the Cold War and in the decades that followed, as the United States played a predominant role on the world stage. Today, that predominance is a thing of the past,' Carney said in French, one of Canada's official languages. He added that with the fall of the Berlin Wall in 1989, the United States became the global hegemon, noting that its strong gravitational pull became virtually irresistible and made the U.S. 'our closest ally and dominant trading partner.' 'Now the United States is beginning to monetize its hegemony: charging for access to its markets and reducing its relative contributions to our collective security,' Carney said. Trump's calls to make Canada the 51st U.S. state have infuriated Canadians, and Carney won the job of prime minister after promising to confront the increased aggression shown by Trump. The prime minister said "a new imperialism threatens.' 'Middle powers compete for interests and attention, knowing that if they are not at the table, they will be on the menu," Carney said. Carney said the long-held view that Canada's geographic location will protect Canadians is increasingly archaic. European allies and Canada have already been investing heavily in their armed forces, as well as on weapons and ammunition, since Russia launched a full-scale invasion of Ukraine on Feb. 24, 2022.
San Francisco Chronicle
22 minutes ago
- San Francisco Chronicle
A convoy sets off for Gaza from North Africa to protest Israel's blockade
TUNIS, Tunisia (AP) — A convoy of buses and private cars departed for Gaza from Tunisia's capital Monday as part of efforts to spotlight Israel's blockade on humanitarian aid to the territory, even as Israeli authorities stopped a high-profile flotilla from landing there. The overland effort — organized independently but moved up to coincide with the flotilla — is made up of activists, lawyers and medical professionals from North Africa. It plans to traverse Tunisia, Libya and Egypt before reaching Rafah, the border crossing with Egypt that has remained largely closed since Israel's military took control of the Gaza side in May 2024. The Tunisian civil society groups behind the convoy said their aim is to demand 'the immediate lifting of the unjust siege on the strip.' They asserted that Arab governments haven't pushed enough to end the 20-month war between Israel and Hamas. After a 2½-month blockade of Gaza aimed at pressuring Hamas, Israel started allowing in some basic aid last month. Experts, however, have warned of famine in the territory of over 2 million people unless the blockade is lifted and Israel ends its military offensive. The convoy set off as the Freedom Flotilla Coalition, an aid ship that set sail from Sicily earlier this month, was seized by Israeli forces in what activists said were international waters. Those aboard, including Swedish climate activist Greta Thunberg, were detained. The overland convoy drew widespread attention in Tunisia and Algeria, where it began Sunday, with some people waving Palestinian flags and chanting in support of the people of Gaza. "This convoy speaks directly to our people in Gaza and says, 'You are not alone. We share your pain and suffering,'" Yahia Sarri, one of the convoy's Algerian organizers, wrote on social media. The North African activists do not expect their convoy to be allowed into Gaza. Regardless, it provides 'a message of challenge and will,' said Saher al-Masri, a Tunis-based Palestinian activist. Israel and Egypt have imposed varying degrees of blockade on Gaza since Hamas seized power from rival Palestinian forces in 2007. Israel says the blockade is needed to prevent Hamas from importing arms, while critics say it amounts to collective punishment of Gaza's population. The convoy plans to gather supporters in towns south of Tunis before crossing into Libya, where clashes between rival militias have turned deadlier in recent months. Organizers said they planned the land crossings with relevant authorities leading up to the convoy's departure.
