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FedEx Corp. has released its annual economic impact report, highlighting the company's role in fostering economic growth globally and its significant investments in the Middle East during the fiscal year 2024. The report, produced with Dun & Bradstreet, emphasizes the 'FedEx Effect,' which refers to FedEx's influence on accelerating goods and ideas that spur economic development.
Raj Subramaniam, president and CEO of FedEx Corporation, stated, "At FedEx, we have a vision to make supply chains smarter for everyone by leveraging advanced data and technology to better serve our customers and their customers, thereby extending our reach and impact." He further noted that the 'FedEx Effect' is a testament to their commitment to excellence and community development.
In FY 2024, FedEx contributed over US$85 billion directly to the global economy, making up about 0.1% of the world's total net economic output. In regions such as the Middle East, Indian Subcontinent, and Africa (MEISA), FedEx's direct contribution was also 0.1% of the region's Transportation, Storage, and Communications sector's net output. Indirectly, FedEx added an estimated US$280 million to MEISA's overall economy.
