Trends in the Political Economy of Military Expenditure. The Case of Europe
Journal: Proceedings of the ... International Conference on Business Excellence
Year: 2024

Abstract In real terms, global military spending increased by 3.7% in 2022 to a record $2240 billion. The invasion of Ukraine by Russia played a significant role in the increase in spending, with military spending in Europe rising by 13% in the year – the highest yearly increase in total European spending since the conclusion of the Cold War. Significant increases in spending by Russia and Ukraine were primarily responsible for the remarkable gain, but several other European nations also increas