Oxford Economics: Prologis Properties Facilitate Goods Equal to Nearly 3% of the World's GDP and House 1.1 Million Jobs
Dec 28, 2022
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Prologis, Inc. the global leader in logistics real estate, in partnership with independent advisory firm Oxford Economics, today released a new study on the economic impact of its global operations encompassing approximately 1.2 billion square feet1. According to the "The Future Flow of Goods" report, 2.8% of the world's gross domestic product (GDP) flows through a Prologis property (or nearly 3% of all goods produced and sold globally came through a Prologis logistics property in 2022).
"We are proud of the customers we serve and the important role our facilities play in both delivering goods to the communities we serve and employing more than one million people throughout those communities," said Hamid R. Moghadam, co-founder and CEO of Prologis. "This study underscores the importance the logistics industry has on the global economy and the essential nature of a fluid supply chain."
Other insights from the study include:
- $2.7 trillion of goods produced or sold in the world went through Prologis facilities in 2022, a 23% increase from 20202.
- 4.0% of GDP in Prologis markets: The $2.7 trillion of goods passing through a Prologis facility represents 4.0% of the GDP in the 19 countries in which Prologis operates, compared to 3.5% in 2020. (Prologis' portfolio spanned 963 million square feet in 2020).3
- 2.8% of global GDP: The goods produced and sold that came through a Prologis building represent 2.8% of global GDP, up from 2.5% in 2020.4
- 36.2% of goods in the U.S.: In the United States, the economic value representing 36.2% of goods consumption passes through a Prologis facility; 12% of goods consumption passes through a Prologis facility in Europe.
- $66 billion in tax impact: Activities in Prologis facilities generate an estimated $66 billion in total tax impacts from the estimated $300 billion in economic activity in Prologis' 19 countries of operation.
Oxford Economics and Prologis collaborated on the "Future Flow of Goods" study in 2017 and updated it in 2020. This 2022 version includes the data from Prologis' recent Duke Realty acquisition that closed in October.
"The global impact of Prologis and the economic value their warehouses facilitate showcases the size and scale of Prologis' role in domestic and international trade," said Hamilton Galloway, Head of Consultancy, Americas, Oxford Economics.
Visit Prologis' Economic Impact Report to view and download the full report.
ABOUT PROLOGIS
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 30, 2022, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.0 billion square feet (97 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 5,800 customers principally across two major categories: business-to-business and retail/online fulfillment.
URL : https://www.prologis.com/
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https://www.prologis.com/Tags: United States, English