There's another point in favor of instance variables: it gives you the flexibility of multiple values in different parts of your code. As codebases grow, the danger of two unrelated places wanting different values for your global also grows.
Say a physics simulation has a global for gravity. This precludes, or at least unnecessarily complicates, the same process from having two separate simulations with different gravities (perhaps in different threads). This is especially bad in library code.