Economic Value

A central role in economic systems worldwide

Logistics plays a fundamental role in the development of all countries, allowing sustained economic growth, and increasing competitiveness.

With a global market worth 8.6 trillion U.S. dollars, Logistics has experienced exponential growth in recent years. The sector is estimated to continue growing in the immediate future, becoming a strategic industry with significant influence on all productive activities. Specifically, by 2024, the economic value of Logistics is expected to grow by 10% compared to 2022, reaching 9.9 trillion U.S. dollars. Two main factors are the basis of this growth trend: Rising freight volumes, and the increasing price of logistics services, owing in turn to changes in consumer habits, namely the expansion of eCommerce sales.

Labour Market

Lack of general and specialised workers

Currently one of the major issues that logistics companies face across the globe is labour shortage, both in the transport and warehouse sectors. The shortage of workers is a global phenomenon with different causes. Among these, the misconception that Logistics jobs are strenuous plays an important role. Labour shortage does not affect only blue-collar workers, but also key skilled workers. There is widespread difficulty finding specialised labour to support companies’ innovation processes. Qualified personnel that logistics companies currently need most include customer care experts, data analysts, logistics engineers, cyber security experts and other professionals with extensive knowledge of new technologies, like automation technology.

Public Image

Employee opinions counter the traditional view of Logistics work Despite widespread acknowledgement of Logistics’ central role in improving both the economy and society, the industry is still tied to a traditional public image that no longer reflects reality. Logistics is still perceived as a physically demanding sector, where manual or unskilled labour prevails, making it unattractive to a large portion of the population. In stark contrast, the study’s findings suggest that a great majority of Logistics workers are actually happy in their roles.

Training

The need for an effective training policy In Logistics, training is important both for improving the skills of existing employees and as a way of attracting new workers.  Companies are now developing their training portfolios, making use of internal and external resources, including public and private institutions, like universities and technical schools. From a workers’ point of view, the survey reveals that 69% of those employed in the logistics sector consider training and continuous learning very important in order to stay up to date.

What to expect from logistics in the future? Read more in the full report, including an industry salary guide.