As a global developer, operator and manager of large-scale, high-standard industrial infrastructure, Prologis have contributed to more efficient industrial supply chains and made a direct impact on local economies.
$2.7 trillion of goods produced or sold in the world went through Prologis facilities in 2022, a 23% increase from 2020.
This represents 4% of the GDP of the 19 countries in which Prologis operates, compared to 3.5% in 2020, and also 2.8% of global GDP or 5.6% of global household consumption. These figures underscore the importance that the logistics industry has on the global economy.
Impact of Prologis’ properties on local economies
The ratio of Prologis throughput to national GDP varies among Prologis markets, from 0.5% in Singapore to 12.1% in the Czech Republic.
The latest data from Oxford Economics (OE) suggests that the total GDP impact of Prologis’ warehouses in the 19 countries in which Prologis operates are estimated at $300 billion. The largest impact is in the U.S., at $213 billion, followed by China and Germany, each with $11 billion, and then the United Kingdom at $10 billion.
Oxford Economics also gave an estimation of throughput as a share of goods consumption (excluding services) over the previous year.
Throughput is around 36% of goods consumption in the U.S. and around 12% overall in Europe.
Oxford Economics and Prologis have collaborated on the “Future Flow of Goods” study since 2017. With its unique view into the interconnected nature of global trade, the two look to examine how logistics infrastructure contributes to the global economy.Hamid R. Moghadam, chairman and CEO, Prologis: “This study underscores the importance the logistics industry has on the global economy and the essential nature of a fluid supply chain.” 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. Prologis is proud of its impact on local communities stemming from the 1 million strong jobs it helps to create.
Employment impacts
According to a 2022 study, Oxford Economics estimated direct employment of approximately 1,067,975 in Prologis warehouses globally. It represents a 25% increase from 2020 when a total direct employment of 853,700 workers in Prologis warehouses was recorded. The construction and operation of Prologis’ industrial Parks has created employment and training opportunities for community residents.
As of October 2022, Prologis operated about 1.2 billion square feet of warehouse space globally on an owned and managed basis.
In the 19 countries in which Prologis owns warehouses, the total employment impact, including direct, indirect, and induced impacts was 3.0 million. Over half of this impact was in the U.S., with 1.6 million jobs supported by activities in Prologis warehouses.
Following this was China, with approximately 442,000 jobs, and Mexico, with approximately 117,000 jobs.
While promoting the upgrading of industrial infrastructure and regional economic development, Prologis is also committed to filling the talent gap in the industry. Prologis is dedicated to improving the vocational skills and professional competence of supply chain employees and to promoting the sustainable development of the industry. This is how Prologis works to bring more benefits to people, corporations, and economies.