SIPRI: World’s military spending rises at highest rate in nearly four decades, report says

Seoul, South Korea
CNN
 — 

The world is arming itself at the fastest rate since near the end of the Cold War, according to a new report, as major wars rage in Ukraine and Gaza and military tensions spike from Europe to Asia.

The 9.4% year-on-year rise to $2.718 trillion in global military spending in 2024 is the highest figure ever recorded by the authoritative Stockholm International Peace Research Institute (SIPRI) in its annual report – which warned there’s no end in sight to the spiraling global arms race. That is the highest rise since 1988, the year before the Berlin Wall fell.

“Many countries have also committed to raising military spending, which will lead…