The Peace Party has learned from “visionofhumanity.org” that the economic cost of violence to the global economy was $14.76 trillion in 2017. This is equivalent to 12.4% of world GDP, or $1,988 for each and every person on the planet. To put that in context, just a 1% reduction in the economic cost of violence would be the equivalent of the total global Official Development Assistance in 2017. A larger 10% reduction in the economic cost of violence would be the equivalent of the total economies of Switzerland, Belgium and Denmark. Peace is good for the economy.
The economic impact of violence increased by 2.1% from 2016 to 2017, mainly due to a rise in internal security expenditure. The economic impact of violence has increased by 16% since 2012, corresponding with the start of the Syrian war and rising violence in the aftermath of the Arab uprising in Libya, Yemen and other parts of the Middle East and North Africa. The economic impact of the wars in Afghanistan and Iraq also increased between 2012 and 2017, due to the rise of ISIL and its global affiliates.
AND BY NUMBERS
$14.76 trillion: Global economic impact of violence in 2017
37.2%: At 37.2%, military expenditure forms the largest component of the global economic cost of violence
16%: Increase of the economic cost of violence since 2012
15x: Per capita violence containment spending is 15 times higher
in MENA than Sub-Saharan Africa
12.4%: Economic cost of violence as a percentage of world GDP