With the conflict in the Middle East continuing to escalate and the risk of the military conflagration engulfing the wider eastern Mediterranean region, especially given Turkey’s belligerent stance, research carried out by the Cyprus Centre for Strategic Studies (CCSS) offers useful insight into the balance of military power of the states, including Greek defense spending.
In its analysis, the CCSS factors in indicators such as country populations, GDP, and other elements to ascertain the defense capabilities and levels of preparedness of each state in the wider region amid an environment of shifting and emerging alliances.
Regarding defense expenditure, some insightful conclusions emerge. Interestingly, Greek defense spending is commensurate with that of Iran, the second most populous in the region, with both allocating approximately $7 billion each for defense, while Egypt, the largest country, spends around $5 billion.
Unsurprisingly, Saudi Arabia, the UAE, and Israel top the list, with budgets of $69.1 billion, $20.7 billion, and $19.2 billion, respectively. Turkey has budgeted $16.5 billion for defense in 2024, a nearly 90% increase from previous years.
The study revealed Greece has a population of 10.5 million, Israel 9.2 million, and Cyprus 1.1 million, constituting the smallest countries in terms of population in the region.
The Republic of Cyprus, while having one of the highest per capita incomes in the area, second only to Israel, spends the least on defense at $535 million, compared to $540 million for Lebanon and $1.3 billion for Jordan.
The study also notes that Cyprus faces exposure to Turkish occupation forces and potential threats, while its arsenal is comparatively small and largely outdated.
Egypt, with a population of 109.5 million, remains the largest country in the region, followed by Iran with 87.5 million, surpassing Turkey, which now ranks third with 83.6 million people. Iraq follows with 41.2 million.
Economically, Turkey leads the region with a GDP of $1.15 trillion, followed by Saudi Arabia with $1.11 trillion. Israel ranks third with $540 billion, and Iran comes in fourth with $386 billion. Greece, with a GDP of $256 billion, has fallen to seventh place, behind Egypt and Iraq.
