Loss of Life:
The war caused the deaths of millions of people. Estimates vary, but it is believed that between 16 and 20 million soldiers and civilians died. The exact number of casualties is still unknown due to the lack of comprehensive records.
Civilian Casualties:
The war had a devastating impact on civilians, particularly in the regions where battles took place. Civilians were killed as a result of military actions, famine, and disease. The civilian death toll is estimated to be around 6 million.
Military Casualties:
Approximately 10 million military personnel died during the war. These casualties include those killed in combat, accidents, and disease. The Central Powers (Germany, Austria-Hungary, and their allies) suffered the most casualties, with around 7.5 million military deaths. The Allied Powers (France, Great Britain, Russia, Italy, and the United States) lost approximately 2.5 million soldiers.
Financial Cost:
World War I was one of the most expensive conflicts in history up to that point. The total cost of the war is estimated to have been around $280 billion (1913 value), which is equivalent to approximately $3.7 trillion in today's terms.
The war had severe economic consequences for all the participating nations. Countries incurred massive debts to finance their military efforts. They raised funds through various means, including domestic and international borrowing, taxation, and issuing war bonds. The economic burdens of the war continued to impact the economies of these countries for years after the war ended.
In addition to the direct costs of the war, there were significant long-term economic impacts, including disruptions to trade, infrastructure damage, and reduced labor availability. The war profoundly affected the global economy and laid the groundwork for the economic crises and challenges of the interwar period and beyond.