In a sharp escalation, Israel increased its military spending by 65 percent in 2024, reaching $46.5 billion, according to a new report from the Stockholm International Peace Research Institute (SIPRI). This marks Israel’s steepest annual military spending hike since the Six-Day War in 1967.
The SIPRI report highlights that global military expenditure soared to $2.72 trillion in 2024. This jump represents the steepest year-on-year rise since the end of the Cold War, signaling an era of heightened global tensions and defense prioritization.
Israel’s Military Burden Surges
Israel’s military burden—the share of its military expenditure relative to its GDP—climbed to 8.8 percent, now the second highest in the world, SIPRI revealed. The surge reflects Israel’s increased security focus amid ongoing regional instability.
Regional Spending Trends: Lebanon Rises, Iran Falls
Lebanon also recorded a significant jump in military spending, rising by 58 percent to $635 million. Although Lebanon’s total remains far lower than Israel’s, the sharp increase points to growing defense concerns across the region.
In contrast, Iran’s military spending dropped by 10 percent in real terms, settling at $7.9 billion. SIPRI attributes the decline partly to the pressure of international sanctions, which continue to hamper Iran’s defense investments.
Experts Weigh In
“Despite widespread expectations that many Middle Eastern countries would increase their military spending in 2024, major rises were limited to Israel and Lebanon,” said Zubaida Karim, a researcher with SIPRI’s Military Expenditure and Arms Production Programme.
The findings suggest that while the region remains volatile, financial and political constraints have prevented a uniform increase in military budgets across the Middle East.
What It Means for the Future
Analysts warn that Israel’s dramatic military expansion could reshape power dynamics in the region. With a swelling defense budget, Israel could further enhance its military technology, intelligence capabilities, and strategic readiness, setting new standards for regional security postures.
Meanwhile, countries like Iran and others facing economic hardships may find it increasingly challenging to match Israel’s growing military edge.
A Telling Moment
The sharp rise in military budgets, especially in Israel and Lebanon, underscores a broader global trend where defense spending is once again becoming a top priority. As nations grapple with new threats and shifting alliances, military strength is emerging as a key measure of national security and influence.
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