Prologis, 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.
Logistics real estate encompasses far more than the distribution of goods—it is a critical waypoint in the global economy and an essential component of the modern supply chain. 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).
This research examines how Prologis’ business operations and its customers’ activities contribute to the global economy, highlighted through activity inside its warehouses (direct impact), the supply chain supporting that activity (indirect impact), and the economic activity driven by spending out of wages of those employed directly and indirectly (induced impact).
- The value of goods (throughput) transiting through Prologis warehouses in the EU portfolio is approximately $541 billion. This is equivalent to approximately 3.1% of combined GDP of the 12 countries where Prologis operates in Europe or 5.9% of the household consumption of these countries.1
- The direct employment engaged in activities in Prologis warehouses in Europe in 2022 is 236,094, representing a 19% increase from 2020.
- The full economic impact of operations in Prologis warehouses in our EU portfolio is nearly $58 billion.
- The total employment impacts associated with activities in Prologis’ warehouses in our EU portfolio are estimated at 643,908.
- The total tax impacts associated with activities in Prologis’ warehouses in our EU portfolio are estimated at $17 billion.
Key numbers for our global portfolio:
- Global throughput through Prologis warehouses of approximately $2.7 trillion globally. This is equivalent to approximately 2.8% of global GDP or 5.6% of global household consumption.1
- The 2022 estimated global direct employment in Prologis warehouses is 1,067,975 representing a 25% increase from 2020.
- The full global economic impact of operations in Prologis warehouses is $315 billion.
- The total global employment impacts associated with activities in Prologis’ warehouses are estimated at 3.5 million.
- The total global tax impacts associated with activities in Prologis’ warehouses are estimated at $66 billion.
The study underscores the positive impact Prologis and its customers’ activities are having on driving sustainable economic growth while employing more than one million people worldwide.
1 It is important to note that GDP represents the total value of all final goods and services production. Some warehouses may be used to store intermediate goods (i.e. components used in the production of final goods), and of course services do not need to be stored, and a single good will often be stored in multiple warehouses on its way to final consumers.