Prologis releases updated “Future Flow of Goods” economic impact report
Logistics real estate specialist Prologis has released a new report that summarises the economic impact of its worldwide operations.
Prologis commissioned independent advisory firm Oxford Economics to update the company’s “Future Flow of Goods” study, first conducted in 2017. The revised report reveals Prologis’ growth amidst changes in the logistics real estate landscape.
“This study shows just how critical logistics real estate is to the vitality of the global economy,” says Prologis chairman and CEO Hamid R. Moghadam. “Every day, Prologis sees many of the goods that make modern life possible flow through our distribution centres, which in turn underscores the interconnected nature of global trade.”
The current economic value of goods flowing through Prologis facilities worldwide is USD2.2 trillion a 69 per cent increase over 2017. This figure underscores the diversity of the Prologis customer base and the scale and value of the company’s global real estate portfolio.
This USD2.2 trillion in throughput represents 3.5 per cent of the gross domestic product (GDP) of the 19 countries in which Prologis operates. In 2017, the company’s portfolio spanned 684 million square feet, and throughput represented 2.4 per cent of the GDP of those same 19 countries. The increase speaks to Prologis’ growth strategy and the scale of its platform, which comprises nearly 1 billion square feet.
The flow of goods through Prologis buildings represents 2.5 per cent of global GDP — 4.4 per cent of global household consumption. In 2017, the flow of goods was 1.7 per cent of global GDP.
Prologis is a powerful supporter of jobs in its communities; each day, approximately 850,000 people go to work under Prologis roofs, a 57.4 per cent increase over 2017.