Global military spending hit a record US$2.7 trillion in 2024 — the sharpest annual rise in over 30 years. The increase reflects heightened global instability, with countries across all regions allocating more resources toward defense amid ongoing conflicts and diplomatic tensions.
Data from the Stockholm International Peace Research Institute (SIPRI) shows a consistent rise in defense budgets from Asia to Europe and the Americas. Nations appear to be prioritizing security over other areas of public investment, sparking debate about the long-term consequences of such spending.
The United States remained the world’s largest military spender, allocating US$997 billion to defense — nearly 37% of the global total. China followed with US$314 billion, while Russia ranked third with US$149 billion, reflecting its ongoing involvement in military operations and geopolitical conflicts.
Meanwhile, Colombia ranked 24 globally, spending US$15.1 billion on its military, according to the SIPRI Military Expenditure Database.
Top 10 countries by military spending in 2024
According to SIPRI, the following countries were the biggest military spenders in 2024:
1. United States — US$997 billion
2. China — US$314 billion
3. Russia — US$149 billion
4. Germany — US$88.5 billion
5. India — US$86.1 billion
6. United Kingdom — US$81.8 billion
7. Saudi Arabia — US$80.3 billion
8. Ukraine — US$64.7 billion
9. France — US$64.7 billion
10. Japan — US$55.3 billion
These figures reflect not only national defense strategies but also ongoing wars, rising global tensions, and broader shifts in international policy. Several European and Asian countries significantly boosted their budgets in response to regional threats and international alliances.
Concerns over peace, development, and global priorities
The sharp rise in global defense spending has drawn strong criticism from international leaders and development organizations.
United Nations Secretary-General António Guterres expressed concern that nations are heavily investing in war while falling short on peacebuilding. He noted that global military budgets in 2024 were 750 times larger than the U.N.’s core operating budget, and nearly 13 times higher than total development aid provided by wealthy nations.
The report highlighted a stark contrast: while US$2.7 trillion was spent on weapons and defense, solving issues such as extreme poverty would cost less than US$300 billion. Redirecting even a small share of military funds could address hunger, improve education in low-income countries, and boost climate resilience in vulnerable regions.
Haoliang Xu, deputy chief of the U.N. Development Programme, emphasized that peace is most effectively built through strong institutions and access to services such as health care, education, and employment. He warned that growing military investments, if not balanced with social spending, could trigger a cycle of instability and neglect.
The report urges world leaders to rethink their priorities, suggesting that long-term security is best achieved by investing in people — not just in arms.