Military and internal security spending makes up to about 74% of the total economic impact of violence

Key takeaways:

  • The world spent $19.1 trillion on violence in 2023, accounting for 13.5% of global GDP.
  • Military and internal security spending make up 74% of this cost.
  • Homicides alone cost the global economy $1.34 trillion, highlighting the economic toll of crime beyond loss of life.
  • Private security is now a $1.15 trillion industry, as businesses and individuals invest heavily in safety.
  • Violent crime resulted in $760 billion in economic losses, affecting productivity, businesses, and legal systems worldwide.
  • Spending on security competes with development needs, diverting resources from education, healthcare, and infrastructure.
  • The cost per person globally is $2,380, illustrating how violence impacts individuals, not just governments or corporations.

Violence isn't just a social issue. It carries an enormous financial cost. In 2023 alone, the global economic impact of violence reached $19.1 trillion, equivalent to 13.5% of global GDP. To put that into perspective, that’s about $2,380 per person worldwide. The cost of violence extends beyond direct conflicts, affecting military spending, internal security, private security, and even economic losses from crime.

Source:

IEP Calculations

Period:

2023
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