In 2024, global military spending rose the sharpest since the end of the Cold War, reaching $2.7 trillion, as wars and rising tensions drive up costs, AFP reported.

According to a new report by the Stockholm International Peace Research Institute (SIPRI), military spending has risen across the world, with particularly large increases in Europe and the Middle East.

The report notes that several European countries have seen "unprecedented" increases in their military spending.

In real terms, spending has increased by 9.4% globally compared to 2023, with 2024 being the tenth year of consecutive spending increases.

"This is really unprecedented," said Xiao Liang, a researcher with SIPRI's Military Spending and Weapons Production Program. 

"This is the largest year-on-year increase since the end of the Cold War."

Although there may have been a sharper increase during the Cold War, data for the Soviet Union are not available, Liang added.

More than 100 countries, including all of the 15 biggest spenders, increased their military budgets last year, the report said. | BGNES