A strong defense budget is essential to national security and sovereignty. Beyond the primary objective of guaranteeing a nation’s security and readiness, a sizable military budget may have important positive effects on the economy, society, and geopolitics.
- Business Insider Africa presents the top 10 countries with the most expensive militaries.
- This list is courtesy of data from Global FirePower.
- The United States ranks number 1 on this list.
Defense expenditure boosts economic growth by increasing demand in manufacturing, engineering, and technology businesses.
A robust defense budget typically funds local enterprises providing military equipment and services, boosting industrial growth.
It also provides direct and indirect jobs in areas like research and development, logistics, and construction, which can help to reduce unemployment and raise living standards.
Primarily, the key benefit of a large military budget is the security of a country’s sovereignty and territorial integrity it affords.
An adequate budget ensures that armed forces are properly equipped, trained, and technologically sophisticated, allowing them to respond successfully to external threats such as terrorism and cyberattacks.
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A safe nation promotes stability, which is essential for economic progress and social peace.
Furthermore, a substantial defense budget may strengthen a country’s geopolitical status by allowing it to project power and influence on a global scale.
This might include engaging in foreign peacekeeping efforts, offering military help to friends, or preserving freedom of navigation along important commerce routes.
Such efforts not only establish relationships but also advance the country’s objectives in international diplomacy.
With that said, here are the countries across the globe that spent the most on their military in 2024, as per data from Global FirePower.
Top 10 countries with the most expensive militaries
| Rank | Country | Defense budget 2024 |
|---|---|---|
| 1. | USA | $831,781,000,000 |
| 2. | China | $227,000,000,000 |
| 3. | Russia | $109,000,000,000 |
| 4. | India | $74,000,000,000 |
| 5. | Saudi Arabia | $71,720,000,000 |
| 6. | United Kingdom | $62,816,382,000 |
| 7. | Germany | $55,941,410,000 |
| 8. | Japan | $53,000,000,000 |
| 9. | Australia | $52,559,000,000 |
| 10. | France | $49,730,000,000 |
