More than 75% of European nations increased their defense budgets in 2023, as the continent braces for potential escalations in Russia's conflict with Ukraine, as detailed in a recent report.

The 18th Global Peace Index (GPI) from the Institute for Economics & Peace (IEP) in Australia revealed that the world is facing a critical moment, with 56 conflicts globally — the highest since World War II.

In 2024, peacefulness declined in 97 countries, the highest number since the GPI began in 2008.

Wars have become more global, involving 92 nations in conflicts outside their borders, the most since the GPI started tracking these metrics.

Steve Killelea, the founder and executive chairman of IEP, stated, “Over the past decade, we've seen declines in peacefulness in 9 out of the 10 years, with a surge in conflicts, increased militarization, and growing international strategic rivalry.”

Killelea emphasized the importance for governments and businesses to work towards resolving smaller conflicts to prevent larger crises.

Despite Europe hosting seven of the top ten most peaceful countries, 23 out of 36 European nations have become less peaceful.

Sweden, joining NATO in March due to fears of Russian aggression, saw the largest decline in peacefulness in Europe, dropping 22 spots to rank 39th, its lowest since 2008.

Globally, eight out of nine regions witnessed decreased peacefulness. The Russia-Eurasia region was the only one to show an improvement, although both Russia and Ukraine saw declines.

The war between Russia and Ukraine has prompted Europe to reevaluate its military expenditure and readiness, with 30 out of 39 European countries noting a drop in these areas within the past year.

Killelea noted the ongoing crises highlight the necessity for global leaders to focus on conflict resolution, marking 80 years since WWII ended.

The report found an increase in militarization in 91 countries, reversing the prior 15-year trend, as minor conflicts raise the likelihood of larger, future wars.

‘Endless Wars’

With conflicts growing more complex and international, the chances of reaching lasting peace diminish, resulting in "endless wars" like those in Ukraine and Gaza.

Technological advancements and geopolitical competition are altering the nature of armed conflicts.

The adoption of drones has risen significantly, with the number of states using them increasing from 16 in 2018 to 40 in 2023, a 150% growth, simplifying warfare for smaller states and non-state groups.

The human toll of war has reached unprecedented levels.

In the first four months of 2024, global conflicts resulted in 47,000 deaths.

If this rate continues, it will result in the highest number of conflict-related deaths since the Rwandan genocide in 1994.

In 2023, there were 162,000 conflict-related deaths, the second-highest toll in the last 30 years, with conflicts in Ukraine and Gaza responsible for nearly 75% of these deaths.

The economic impact of conflicts is severe, with the global cost of violence estimated at $19.1 trillion in 2023, equivalent to $2,380 per person, an increase of $158 billion, largely due to a 20% rise in GDP losses from conflict.

Ukraine experienced one of the highest relative economic impacts of violence in 2023, amounting to 68.6% of its GDP.

Killelea warned that conflict significantly harms the global economy, increasing business risks and exacerbating existing economic vulnerabilities worldwide.