Global military spending reached an unprecedented $2.7 trillion in 2024 amid intensifying wars and rising geopolitical tensions worldwide.

UN secretary-general António Guterres disclosed this at a press briefing for his new report on the threat posed by the steady rise in military expenditure.

“The world is spending far more on waging war than on building peace,” the UN chief said.

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,” Mr Guterres said.

The alarming amount spent on arms-related costs in 2024 alone is 750 times the 2024 UN regular budget.

It also equates to almost 13 times the development assistance provided by the Organisation of Economic Cooperation and Development’s development assistance committee in 2024.

This indicates 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,” Mr Guterres said.

For a small portion of the investment in militaries over the past year and the previous decade, the world could fund education for every student in low- and lower-middle-income countries.

It would also 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.

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

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

In a vicious cycle, lack of economic opportunity, poverty, and underdevelopment breed 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,” Mr Guterres said.

UN Disarmament Chief Izumi Nakamitsu lamented that while more is being spent on militaries, less is being spent on social investment, poverty reduction, education, health, environmental protection, and infrastructure.

She blamed high military spending for fuelling arms races, deepening mistrust, and diverting resources from the very foundations of stability.

“Rebalancing global priorities is not optional – it is an imperative for humanity’s survival,” she stressed at the press briefing.

UN Development Programme deputy chief, Haoliang Xu, said that “development is a driver of security and multilateral development cooperation works”.

“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,” Mr Xu added. 

(NAN)