Global Defence Spending Hits Record High of $2440 Billion

2024 • 2min • News • National


Published On: April 22, 2024 – The Stockholm International Peace Research Institute (Sipri) has released its latest report, revealing that global military expenditure has soared to a historic high of $2440 billion. This marks the largest annual increase in military spending in over a decade, with a 6.8% rise from 2022 to 2023. The report highlights a significant surge in military outlay across all five geographical regions, including Africa, Europe, the Middle East, Asia and Oceania, and the Americas. Leading the pack are the United States and China, comprising nearly half of the world's military spending. Learn more about the implications of this unprecedented surge in military expenditure and its potential impact on global security dynamics.