The Economic Impact of Europe’s Rising Defence Spending

Europe is entering a new era of defence investment. In the wake of Russia’s 2022 invasion of Ukraine, many European governments have pledged to boost military spending after decades of post-Cold War decline. NATO figures show that defence outlays by European Allies have climbed from roughly 1.66% of GDP in 2022 to about 2% in 2024, with 23 NATO members …