Global Military Expenditure Reaches All-Time High in 2023
Global military expenditure saw its steepest increase in over a decade in 2023, reaching an all-time high of $2.4 trillion as wars and rising tensions fueled spending across the world, researchers said on Monday.
Key Findings:
- Military spending rose across the globe with particularly large increases in Europe, the Middle East, and Asia.
According to a new report by the Stockholm International Peace Research Institute (SIPRI), the surge in military spending reflects the escalating conflicts and geopolitical tensions worldwide.