Global military spending last year recorded an “unprecedented” rise due to the increase in military investment throughout Europe, the International Stockholm Institute for Peace Research (SIPRI) said Monday.
Weapons investment reached the record of 2.7 billion dollars (2.4 billion euros), 9.4 % more interannual (the highest rise from at least the end of the cold war) and a figure equivalent to 2.5 % of the global gross domestic product (GDP).
Europe, with an expense of 693,000 million (610,000 million euros) and an increase of 17 %, was the main drive, followed by the Middle East, although the increases were widespread. “More than one hundred countries around the world increased their military spending by 2024. By increasingly prioritizing governments their military security, often at the expense of other budgetary areas, economic and social compensation could have significant effects on societies for years,” the report points out.
The war in Ukraine triggers spending in Europe
All European countries, including Russia and except Malta, increased the expense for defense last year. Russia, third worldwide after China and the United States, spent an estimated figure of 149,000 million dollars (131,000 million euros) in 2024, 38 % more and twice as many years ago, which represents 7.1 % of GDP.
Ukraine, on the other hand, increased its annual military expenditure by 2.9 % to 64.7 billion (57,000 million euros), allocating 34 % of its GDP, the largest worldwide.
“Russia significantly increased its military spending, expanding the gap with Ukraine. Ukraine allocates all its tax revenues to defense. With such a tight fiscal space, it will be a challenge to keep the increase in spending,” says the Sipri.
Germany became the fourth country globally and the first in Western Europe, for the first time since its reunification, with a game of 88.5 billion dollars (78,000 million euros), 28 % more.
Two other European countries appear on Top 10: United Kingdom, sixth with 81,800 million (72,000 million euros), 2.8 % more; and France, ninth with 64.7 billion (57,000 million euros), 6.1 % more. Significant were also the rises of Sweden (34 %, in their first year as a member of NATO) and by Poland (31 %).
“The latest policies adopted in Germany and many other European countries suggest that Europe has entered a period of high and growing military spending that is likely to continue in the near future,” says the SIPRI.
Spanish military spending experiences a slight increase
Spain increased 0.4 % its military expenditure in 2024 compared to the previous year to 24.6 billion dollars (21,638 million euros), the International Stockholm Institute for Peace Research (SIPRI) said Monday.
That figure, which is equivalent to 1.4 % of Spanish GDP, represents 35 % more than the one for ten years ago. Spain occupies the number 18 on the list globally, one below than last year, with 0.9 % of the world military expenditure.
USA and NATO consolidate their world dominance
The United States continues to be the main investor in defense worldwide with an expense of 997,000 million dollars (877 million euros) in 2024, 5.7 % more interannual and 37 % globally, three times more than China, the next on the list.
An important part of that figure was dedicated to modernizing military capacities and nuclear arsenal “to maintain a strategic advantage over Russia and China,” according to the report.
US military spending represents 66 % of the total North Atlantic Treaty Organization (NATO).
The 32 countries that make up this alliance monopolized 55 % of world military expenditure, with a total figure of 1.6 billion dollars (1.4 billion euros).
According to Sipri calculations, 18 of those countries allocated at least 2 % of their GDP to defense.
Increase stands out in the Middle East promoted by Israel
The Middle East was behind Europe the region that experienced a higher increase in military spending, of 15 %, up to 243,000 million (214,000 million euros).
Israel allocated 46,500 million (40.9 billion euros) to Defense, 8.8 % of GDP and 65 % more, the greatest increase since the six -day war in 1967.
Lebanon was the other country in the area that increased expenditure, 58 %, although up to a much smaller figure, 635 million (559 million euros).
They will, on the other hand, reduced 10 % to 7,900 million (6,949 million euros), due to the impact of international sanctions against Tehran.
China consolidates its domain in Asia
In the Asia-Oceania region, military spending rose 6.3 % to 629,000 million (553,000 million euros), with China monopolizing half with 314,000 million (276,000 million euros), 7 % more, as a result of its efforts to improve and modernize its military capabilities.
Japan, with an expense of 55.3 billion (48,641 million euros), registered an increase of 21 %, the largest since 1952.
The investment in defense rose 31 % in Central America and the Caribbean to 19.8 billion (17,416 million euros), driven by the growing expense in Mexico.
In South America, on the other hand, it remained stable with 53.6 billion (47,145 million euros).
