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

Forms of economic cost of violence (2023)

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

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Period:

2023

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