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 Monday.
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).
"Total military spending is at an all time high ... and for the first time since 2009, we saw spending increase across all five geographical regions," said Nan Tian, a senior researcher at SIPRI.