The world we live in today possesses a few characteristics that distinguish it from the previous era and these include speed to market for product launches, a fast-paced work environment and the dynamism of applications.
To attain these effects has been made possible globally by the advancement of air freight shipping operations. With a cursory look at the impact of air freight on the global economy and the benefits derived from it, you will realize that the value is limitless.
Firstly, the global economy depends significantly on the movement of goods from one location to another at competitive prices to consumers worldwide. Air cargo transports over $6 trillion of goods, accounting for approximately 35% of global trade value.
It is a trade facilitator that contributes to global economic development in job creation, wealth creation, foreign exchange growth, circulation of goods and services globally, and promotion of international trade.
The air freight industry has a significant impact on other industries and is considered a growth facilitator. It also affects global economic performance by enhancing the efficiency of different industries across the entire spectrum of economic activities. Some of these benefits Include:
1. Access To The Global Market:
Air transport has allowed landlocked countries and countries in remote locations to participate in the global market by granting access to primary markets.
It primarily facilitates trade and economic partnership between countries far apart, thereby promoting bilateral trade, the interdependency of nations, and peaceful relationships between countries and economies worldwide.
2. Boosts Global Productivity:
Improved air cargo transport links have been instrumental in helping international market expansion and productivity. As a result, there is an easy and faster exchange of goods and services, thereby allowing countries to leverage and tap into the opportunities in other economies. With this, there has been room for growth, expansion, diversity, and even unity and peaceful coexistence.
3. Facilitates eCommerce Activities And Growth:
In recent years, e-commerce has become the new normal. The e-commerce industry's growth has been rapid, with no signs of slowing down, and one significant factor contributing to its growth is air cargo shipping.
With air shipping in place, goods are moved across the world in a matter of hours, and consumers have the confidence to procure internationally, knowing that they don’t have to wait for too long for their goods to arrive.
4. Effective Collaboration And Networking Between Economies:
Air transport helps promote collaboration and networking among companies worldwide. Factories producing in one country can now conveniently establish a distribution point in other countries, and with the help of air shipping, goods are constantly made available for clients.
This helps with foreign exchange and the strengthening of trade agreements and treaties between nations.
5. Supply Chain Efficiency:
Air shipping helps to improve and stabilize supply chain efficiency. Countless industries utilize air transport to reduce delivery times. This move can lead to reduced costs in some aspects but ultimately enables companies to deliver products to customers reliably and quickly, thereby earning them a good image.
6. Job creation:
The air freight industry is a major employer in the logistics and transport industry, employing pilots and flight attendants, cargo handlers, and logistics professionals. Thanks to the air freight activities of the supply chain industry, it also has a spin-off effect on other industries or individuals who are indirectly employed.
With the employment opportunities that it presents, there is an improvement in the standard of living and growth in the economy.
7. Preservation Of Lives:
According to conducted research, millions of lives are saved every year with vaccines, and it is a known fact that these vaccines are transported mainly through air. Because of timely supply chain solutions provided by air cargo shipping, vaccines can reach their destination in time to be effective.
8. International Trade Facilitation:
Air freight logistics enables the rapid movement of goods across borders and national frontiers, making it an essential tool for international trade.
It allows businesses to transport goods quickly and efficiently to customers and suppliers worldwide, boosting economic growth, foreign exchange, and global commerce.
9. Growth In The Global Freight Fleet:
Even the air freight industry itself has been witnessing and will continue to witness significant growth, including the rise in the number of air fleets. More air fleets equal greater cargo movement capacity, and this will, in turn, lead to significant economic growth.
One can’t tell how much freight volumes will impact the economy in the coming years. However, the expectation in the air freighter market indicates that growth will likely continue at an impressive rate.
Air freight logistics is vital in the global supply chain and significantly impacts the global economy. The availability of air cargo has transformed international trade and, with it, the economies of several countries.
Air transport connectivity has increased, and so have the opportunities for export and import. Partnering with SARA PROCUREMENT SERVICES LIMITED allows you to leverage the advantages that abound in the air freight logistics space.
Visit our physical office space at 3 Fatai Irawo Street, Ajao Estate, Airport Road, Lagos, Nigeria, or any of our warehouse touch point locations worldwide to learn more about us and utilize our services.
Our 247-email correspondence is hello@chinatolagos.com. Contact us today.
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