Global military expenditure has reached a record high of $2.7 trillion in 2024, according to a report by UN Secretary-General António Guterres. This significant increase is attributed to intensifying conflicts and rising geopolitical tensions worldwide. The UN chief emphasized that the world is allocating more resources to warfare than to building peace.
The report reveals that spending on security needs has increased across all five global regions in 2024, marking the steepest year-on-year rise in the last three decades. In comparison, the amount spent on military budgets could eliminate extreme poverty for approximately $300 billion. Guterres stressed that investing in fighting poverty is crucial, stating that “a more secure world begins by investing at least as much in fighting poverty as we do in fighting wars.”
The alarming military expenditure in 2024 is 750 times the UN’s regular budget and equates to almost 13 times the development assistance provided by the Organisation for Economic Co-operation and Development (OECD) in 2024. This highlights a stark trade-off between military spending and sustainable development. Guterres noted that redirecting a fraction of the current military spending could address vital gaps in education, healthcare, clean energy, and infrastructure, ultimately protecting the most vulnerable populations.
The UN estimates that a small portion of the investment in militaries over the past year and decade could fund education for every student in low- and lower-middle-income countries, eliminate child malnutrition globally, and support climate change adaptation in the developing world. This, in turn, could bring the international community closer to achieving the Sustainable Development Goals (SDGs).
The report calls for a more human-centered approach that prioritizes diplomacy, international cooperation, and sustainable development. UN Disarmament Chief Izumi Nakamitsu emphasized that excessive military spending does not guarantee peace and instead fuels arms races, deepens mistrust, and diverts resources from the foundations of stability. The UN Development Programme (UNDP) Deputy Chief, Haoliang Xu, added that development is a driver of security and that multilateral cooperation can lead to more peaceful societies.
The significance of this report lies in its emphasis on the need to rebalance global priorities, investing in development and sustainable security to alleviate the need for military spending. As the world continues to grapple with rising tensions and conflicts, the UN’s call for a more sustainable and peaceful approach is a pressing imperative for humanity’s survival.