Global conflicts cost $17 trillion in one year: Gergawi

via X

His Excellency Mohammed bin Abdullah Al Gergawi, Minister of Cabinet Affairs and Chairman of the World Governments Summit Foundation, said on Monday that the cost of disputes, conflicts and violence around the world in just one year amounts to $17 trillion.

In his speech at the World Governments Summit (WGS) in Dubai, Gergawi said that figure represents about $6 per day for every person on this planet, and that meant $6 was not invested in construction, education and health, but rather in wars, sabotage and destruction.

He added that wars and conflicts are a direct result of the ideology of hatred and negative feelings towards others, fuelled by media chaos, and ignited by fear of the future and the expectation of the worst.

His Excellency pointed out that, in contrast, about 6 per cent of this number can cover the cost of the most important challenges facing humanity.

He stressed that “what unites us as humanity is much more than what divides us, and what we can achieve together as gains is much more than what wars achieve, and the resources the planet contains are sufficient for us and for future generations, if we invest them well and use them for the good of humanity.”

Mohammad Al Gergawi also said in his speech that the World Governments Summit’s mission is to focus on opportunities, development and growth.

He stressed that humanity is in its best era and highlighted that lifespan has doubled due to medical innovations, the number of low-income countries declined by half in just 20 years, that we are in the largest knowledge boom, with 120,000 new books worldwide every month and 33 million patents in one decade. He also said we live in a more interconnected world, flourishing with economic bridges, ease of living, mobility, and travel.

He warned of challenges other than war and conflict, including the concentration of global growth in just two countries, China and India, the ability of Artificial Intelligence to learn increasing by 1000x in just one year, and a seven per cent decline in Global Gross Domestic product due to the decline of globalisation.

More from Local News