Gaza: In 2024, global military spending reached an unprecedented $2.72 trillion, marking the sharpest year-on-year increase since the end of the Cold War, according to the Stockholm International Peace Research Institute (SIPRI). Israel saw a particularly steep rise, with its military expenditure soaring by 65 percent compared to 2023.
SIPRI reported that Israel's military spending totaled $46.5 billion in 2024, making it the steepest annual increase for the country since the Six-Day War in 1967. This massive rise reflected Israel’s heightened focus on defense amid ongoing regional tensions and conflicts.
The report further noted that Israel’s "military burden" — the share of military spending relative to its economy — rose to 8.8 percent of its GDP, the second-highest military burden globally. This significant shift underlines the increasing prioritization of defense within Israel’s national budget.
In comparison, Lebanon also raised its military spending by 58 percent in 2024. However, its total defense expenditure remained much smaller, reaching only $635 million. Meanwhile, Iran's military spending declined by 10 percent to $7.9 billion, largely due to the impact of international sanctions.
SIPRI researcher Zubaida Karim explained that despite expectations for widespread military budget increases across the Middle East in 2024, significant rises were mainly limited to Israel and Lebanon. This trend points to growing regional imbalances and escalating security concerns.
