Global military spending reached an unprecedented $2.7 trillion in 2024 amid intensifying wars and rising geopolitical tensions worldwide. “The world is spending far more on waging war than in building peace,” the UN Secretary-General António Guterres said at a press briefing for his new report on the threat posed by the steady rise in military expenditure. Spending on security needs increased across all five global regions during 2024, marking the steepest year-on-year rise for at least the last three decades. Compared to the $2.7 trillion directed to military budgets, the world could eliminate extreme poverty for just under $300 billion. “A more secure world begins by investing at least as much in fighting poverty as we do in fighting wars,” said Mr. Guterres.
Military spending worldwide hits record $2.7 trillion | UN News
