Military spending worldwide hits record $2.7 trillion

“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.

A choice between aid or arms

The alarming amount spent on arms-related costs last year alone is 750 times the 2024 UN regular budget. It also equates to almost 13 times the development assistance provided by the OECD’s development assistance committee in 2024, indicating a stark trade-off between military expenditure and sustainable development.

“Redirecting even a fraction of today’s military spending could close vital gaps – putting children in school, strengthening primary health care, expanding clean energy and resilient infrastructure, and protecting the most vulnerable,” said Mr. Guterres.

For a small portion of what was invested in militaries this past year – and the previous decade – the world could fund education for every student in low and lower middle-income countries, eliminate child malnutrition globally, fund climate change adaptation in the developing world, and bring the international community closer to achieving the Sustainable Development Goals (SDGs), the UN estimates.

“Rebalancing global priorities is not optional – it is an imperative for humanity’s survival,” said the UN disarmament chief Izumi Nakamitsu at the press briefing.

‘Sustainable development is in jeopardy’

With only one of the five of the SDGs on track, Mr. Guterres stressed that “our shared promise of sustainable development is in jeopardy.”

While more is being spent on militaries, less is being spent for social investment, poverty reduction, education, health, environmental protection and infrastructure – hindering progress on nearly all the SDGs and undermining the UN Charter, the UN’s cornerstone document.

“But we know that development is a driver of security and multilateral development cooperation works,” said UN Development Programme (UNDP) deputy chief Haoliang Xu.

“When people’s lives improve, when they have access to education, healthcare, economic opportunities and when they can live lives of dignity and self determination, we will have more peaceful societies and a more peaceful world.”

A new security approach

"Investing in people is investing in the first line of defense against violence in any society,” said Mr. Guterres.

The report calls for a more human-centered and multidimensional approach that priorities diplomacy, international cooperation, and paves the way for sustainable development.

In a vicious cycle, lack of economic opportunity, poverty, and underdevelopment breeds instability – fuelling violence and a rise in State expenditure on the military, the UN report contends.

Investing in development and sustainable security has the potential to stop today’s arms race and alleviate the need for military spending.

“The evidence is clear: excessive military spending does not guarantee peace,” said Mr. Guterres. “It often undermines it – fuelling arms races, deepening mistrust, and diverting resources from the very foundations of stability.”