Visualizing the $19 Trillion Global Cost of Conflict

By  Dorothy Neufeld – Visual Capitalist

Last year, the economic impact of violence reached $19.1 trillion, or $717 billion higher than the previous year.

This came as conflict deaths hit 25-year highs, and wars continued in the Ukraine and Gaza. In response to heightened geopolitical tensions, European nations have injected billions into defense spending. Even Japan plans to double its defense spending to 2% of GDP.

This graphic shows the global cost of conflict in 2024, based on analysis from the Institute for Economic and Peace.