{"id":45412,"date":"2023-11-21T18:15:11","date_gmt":"2023-11-21T15:15:11","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=45412"},"modified":"2026-03-28T04:34:48","modified_gmt":"2026-03-28T01:34:48","slug":"fedex-delivered-over-80-billion-in-direct-impact-to-the-global-economy-in-fy-2023-annual-economic-impact-report","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/fedex-delivered-over-80-billion-in-direct-impact-to-the-global-economy-in-fy-2023-annual-economic-impact-report\/","title":{"rendered":"FedEx Delivered Over $80 Billion in Direct Impact to the Global Economy in FY 2023: Annual Economic Impact Report"},"content":{"rendered":"\n<p class=\"has-text-align-center wp-block-paragraph\"><em>FedEx contribution to net economic output across the Asia Pacific, Middle East, and Africa (AMEA) region grew in FY 2023 with a 19% increase in jobs supported by supply chain spending<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Dubai, UAE<\/strong><strong>, November 21, 2023<\/strong>&nbsp;\u2013 FedEx Corp.&nbsp;(NYSE:FDX) released its annual economic impact report, analyzing the company\u2019s worldwide network and role in fueling innovation during its 2023 fiscal year (FY 2023).<a href=\"applewebdata:\/\/B22B0C76-5A98-49ED-9379-AC491E6F5FA5#_ftn1\"><sup>[1]<\/sup><\/a>&nbsp;Produced in consultation with Dun &amp; Bradstreet (NYSE: DNB), a leading provider of business decisioning data and analytics, the study demonstrates the positive impact FedEx has on individuals and communities around the globe \u2014 otherwise known as the \u2018FedEx Effect.\u2019&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\u201cFedEx has helped shape global supply chains and the e-commerce revolution over five decades by transforming the way businesses exchange goods, services, and ideas \u2014 all while continuously exceeding the evolving needs of our customers,\u201d said Raj Subramaniam, President and CEO, FedEx Corporation. \u201cThis report underscores our significant contributions to the economy and dedication to making a positive difference in the communities where we operate.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The report reveals that FedEx contributed more than $80 billion in direct impact to the global economy in FY 2023, despite recent economic pressures. This activity reflects the scale of the network FedEx has developed and the company\u2019s ongoing efforts to enhance its innovative services that help businesses of all sizes connect with customers and strengthen their operations.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>AMEA impact&nbsp;<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">FedEx Express serves more than 100 markets across AMEA, including 66 markets in the Middle East, Indian subcontinent, and Africa (MEISA) region. The study found that with its extensive network, FedEx Express contributed 0.3% of net economic output in the Transportation, Storage, and Communications sector<a href=\"applewebdata:\/\/B22B0C76-5A98-49ED-9379-AC491E6F5FA5#_ftn2\"><sup>[2]<\/sup><\/a>&nbsp;in AMEA during FY 2023. Across all sectors of the AMEA economy, FedEx Express contributed 0.02% of total net economic output, which grew approximately 6% in FY 2023 to $44 trillion.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company\u2019s impact also included $2.7 billion in indirect contributions to the regional economy in FY 2023. Among specific industries in AMEA, FedEx Express indirectly contributed an estimated $1 billion to the critical $9 trillion Manufacturing sector. The company\u2019s indirect contribution to the Transportation, Storage, and Communications sector was estimated as $772 million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">FedEx Express selected Dubai as the home of its gateway facility for Middle East operations in 1989 and its regional hub for air operations in 1998 \u2014 an ideal location as the UAE has evolved into a modern center for logistics and transportation. Today, this hub serves the MEISA&nbsp;region, which accounts for approximately 45% of the world\u2019s population, through 56 weekly FedEx Express flights. These flights are a crucial part of the FedEx global air network that connects more than 220 countries and territories.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Kami Viswanathan, President of FedEx Express Middle East, Indian subcontinent, and Africa, said: \u201cThe growing prominence of the MEISA region in the&nbsp;global economy&nbsp;is reflected in our vast network. In alignment with our long-term vision, we are bolstering our commercial presence, to provide businesses with faster and more convenient access to international markets.&nbsp;We&nbsp;remain&nbsp;committed to providing innovative solutions to our customers&nbsp;and are actively working to foster a&nbsp;more connected and sustainable future. This approach&nbsp;will&nbsp;enhance&nbsp;the FedEx Effect for&nbsp;our&nbsp;team members, customers, suppliers, and communities.\u201d<strong><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Championing community engagement and environmental stewardship<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The FedEx Economic Impact Report shows that in FY 2023, FedEx donated $58.6 million globally to charities and local non-profits in the communities where its team members live and work. In the&nbsp;Middle East and North Africa&nbsp;region,this includes environmental programs,&nbsp;student mentorship and&nbsp;entrepreneurship&nbsp;programs, and&nbsp;community outreachinitiatives to help improve lives. In FY 2023, FedEx Express team members&nbsp;recycled&nbsp;approximately 5,600 kgs of paper and carton materials,&nbsp;<a href=\"https:\/\/newsroom.fedex.com\/newsroom\/middle-east-indian-subcontinent-and-africa\/fedex-team-members-participate-in-tree-planting-to-make-the-uae-a-greener-place\">planted trees at the Special Bee Reserve<\/a>,&nbsp;and&nbsp;sorted and packed 4,800 boxes containing essential food items in the&nbsp;<a href=\"https:\/\/newsroom.fedex.com\/newsroom\/middle-east-indian-subcontinent-and-africa\/fedex-goes-beyond-delivery-volunteers-extend-support-to-more-than-1-000-individuals-in-the-uae-this-ramadan#:~:text=During%20the%20annual%20FedEx%20Ramadan,Al%20Ain%20through%20SmartLife%20Foundation.\">UAE<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/newsroom.fedex.com\/newsroom\/middle-east-indian-subcontinent-and-africa\/fedex-express-joins-forces-with-egyptian-food-bank-to-spread-joy-and-kindness-this-ramadan#:~:text=Over%20three%20days%2C%20a%20total,oil%2C%20sugar%2C%20and%20tea.\">Egypt<\/a>&nbsp;during Ramadan for those in need. Additionally,&nbsp;<a href=\"https:\/\/newsroom.fedex.com\/newsroom\/amea\/fedex-and-injaz-al-arab-join-forces-to-empower-youth-for-a-transformative-future\">FedEx mentorship programs reached more than 1,350 students across the UAE and Saudi Arabia<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With a vision for a sustainable future, FedEx is committed to achieving carbon-neutral operations globally by 2040. To support this goal in the UAE during FY 2023, FedEx&nbsp;transitioned 19 vehicles from conventional diesel to biodiesel and&nbsp;completed its&nbsp;<a href=\"https:\/\/newsroom.fedex.com\/newsroom\/middle-east-indian-subcontinent-and-africa\/fedex-express-advances-sustainable-operations-with-electric-vehicle-trials-in-the-uae#:~:text=First%20EV%20testing%20in%20the,carbon%20neutral%20operations%20by%202040&amp;text=Dubai%2C%20United%20Arab%20Emirates%2C%20December,a%20subsidiary%20of%20FedEx%20Corp\">electric vehicle (EV) trial<\/a>,&nbsp;reinforcing its ongoing efforts to reduce environmental impact and promote sustainable logistics.&nbsp;Additionally, the company utilizes e-cargo bikes in Morocco and 14 EVs in Jordan for the pickup and delivery of packages.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">FedEx celebrated 50 years of operations on April 17, 2023. With the most extensive transportation network in the world, the company employs over 500,000 people across more than 5,000 facilities and moves approximately 14.5 million packages per day.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Read the full FY 2023 FedEx Economic Impact Report and further explore the FedEx Effect across the AMEA region at&nbsp;<a href=\"https:\/\/economicimpact.fedex.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">fedex.com\/economicimpact<\/a>.&nbsp;<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"applewebdata:\/\/B22B0C76-5A98-49ED-9379-AC491E6F5FA5#_ftnref1\"><sup>[1]<\/sup><\/a>&nbsp;Fiscal year (FY) 2023 is defined as June 1, 2022-May 31, 2023.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"applewebdata:\/\/B22B0C76-5A98-49ED-9379-AC491E6F5FA5#_ftnref2\"><sup>[2]<\/sup><\/a>&nbsp;As defined by the United Nations Conference on Trade and Development (UNCTAD).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FedEx contribution to net economic output across the Asia Pacific, Middle East, and Africa (AMEA) region grew in FY 2023 with a 19% increase in jobs supported by supply chain spending Dubai, UAE, November 21, 2023&nbsp;\u2013 FedEx Corp.&nbsp;(NYSE:FDX) released its annual economic impact report, analyzing the company\u2019s worldwide network and role in fueling innovation during [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":45413,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":24,"_extra_hide_author_box":"","_extra_featured_post":"","_partner_post_id":0,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-45412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FedEx economic impact - FY 2023 report | Saudi Shopper<\/title>\n<meta name=\"description\" content=\"FedEx economic impact: FY 2023 report shows $80B+ direct global output and a 19% rise in jobs supported across AMEA. 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