This was highlighted in a report by the Stockholm International Peace Research Institute (SIPRI), which also noted a global increase in military spending due to the ongoing conflict in Ukraine and rising geopolitical tensions across Asia, Oceania, and the Middle East.
The report observed that military spending rose across all regions, with significant hikes in Europe, Asia, Oceania, and the Middle East. This uptick in expenditure comes against the backdrop of various global conflicts, including those involving Israel-Hamas and Iran-Israel, as well as instability in the Red Sea region.
According to SIPRI, 2023 marked the ninth consecutive year of increased global military spending, which surged by 6.8 per
cent to $2443 billion-the sharpest rise since 2009 and the highest amount recorded by the institute.
The global military burden, which measures military spending against global GDP, rose to 2.3 per cent.
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