World military spending reached an all-time high of $2.24 trillion in 2022, as Russia’s invasion of Ukraine fuelled a sharp jump in military spending across Europe.
The Stockholm International Peace Research Institute says in its annual report on global military expenditure that Global spending rose for the eighth consecutive year.
SIPRI says most of that was linked to Russia and Ukraine, but other countries also stepped up military spending in response to perceived Russian threats.
Nan Tian, senior researcher with SIPRI’s Military Expenditure and Arms Production Programme says the continuous rise in global military expenditure in recent years is a sign that we are living in an increasingly insecure world.