Twenty-two of NATO’s 32 member states have met the alliance’s benchmark of spending at least 2% of GDP on defense, according to NATO’s annual report for 2024 released on Thursday, April 24. This marks a significant increase from just three countries hitting the target in 2014.
Defense spending across the alliance has now risen for the tenth consecutive year. Compared to 2023, overall spending in 2024 increased by 19.4% in real terms.
Spain, which has lagged behind in meeting the 2% threshold, has pledged to boost its military budget and announced major investments in defense, signaling it may soon reach the target as well.
With the NATO summit approaching in June, member states are accelerating defense spending efforts in hopes of showcasing stronger commitments. Pressure is mounting as former U.S. President Donald Trump has suggested raising the benchmark to 5% of GDP—a figure that even the United States currently does not meet—prompting European allies to prepare for potential negotiations over the proposal.
In another key metric, 28 member states now meet the requirement of allocating at least 20% of their defense budgets to major equipment, up from just seven in 2014—demonstrating substantial progress in modernizing military capabilities across the alliance.
