FedEx Corp. has announced that its operations contributed an estimated $1.7 billion (PHP96 billion) to the Asia-Pacific (APAC) economy in fiscal year 2024, as outlined in its latest economic impact report.
The report, developed with Dun & Bradstreet, underscores the so-called “FedEx Effect” and reflected on the company’s broad influence on supply chain efficiencies, business growth, and sustainable practices across the region.
“At FedEx, we have a vision to make supply chains smarter for everyone,” said Raj Subramaniam, FedEx president and CEO. “The ‘FedEx Effect’ represents our relentless commitment to excellence, economic growth, and the communities where we live and work.”
In FY 2024, FedEx supported APAC economies with a direct contribution equal to 0.2% of the region’s economic output in the transportation and communications sector. The company’s network spans 43 countries and territories in the region, bolstering trade, advancing operational efficiency, and promoting environmental sustainability.
Kawal Preet, president of Asia Pacific at FedEx, highlighted APAC’s growth and significance. “We recognize APAC’s pivotal role and contribution to the global economy and are committed to driving its growth,” Preet said. She emphasized that FedEx’s investments in regional infrastructure are “positioning APAC as a hub for international investment” and empowering businesses with new growth opportunities.
As demand for efficient logistics grows, FedEx continues to expand its regional presence, including adding four weekly flights from Ho Chi Minh City to Guangzhou. The company has also enhanced its operations in Shenzhen and is developing a South China Operations Center in Guangzhou, set to triple the current capacity of the FedEx Guangzhou Gateway.
Sustainability remains a core focus for FedEx, as it pursues carbon-neutral operations by 2040. In 2024, FedEx rolled out new electric tricycles in Taiwan and completed its first zero-emission delivery from Malaysia to Singapore, reducing CO2 emissions and earning recognition in the Malaysian Book of Records.
FedEx also supports small businesses (SAMs) and local communities through targeted programs. The company’s Small Business Grant Program awarded $69,000 to four companies in APAC, including the grand prize-winning Lucence, a Singaporean oncology startup. Through FedEx Cares, the company contributed more than $55 million in charitable support globally, including scholarships for Filipino women in STEM fields and resources for Jakarta students.
With global operations that generate $85 billion in economic impact, FedEx’s reach extends to over 220 countries and territories, serving 16 million packages daily and employing over 500,000 people.
Read the full FY 2024 FedEx Global Economic Impact Report and explore the FedEx Effect in communities and regions around the world at FedEx | Economic Impact Report.
