Research from Logistics UK forecasts £7.9bn growth given appropriate investment, policy changes and government partnerships
A pre-election report has predicted that Britain’s logistics industry will grow significantly provided that the economy and government support improve.
Logistics UK forecast that the sector could boost UK GDP by up to £7.9 billion per year by 2030 given “appropriate investment, policy changes and the right partnerships with government”.
Currently, the UK logistics industry generates annual revenues of £1.3 trillion and contributes £185bn to the UK’s GVA performance. It remains one of the UK’s biggest employers, employing around eight per cent of the nation’s workforce across over 210,000 businesses.
However, the report predicted that logistics jobs will continue to change and adapt as automation and technology continue to improve.
David Wells OBE, chief executive of Logistics UK, said: “With appropriate investment, policy changes and the right partnerships with government, it is predicted that the sector could provide a boost of up to £7.9bn per year to the UK’s GDP in productivity gains by 2030.”
He added: “It is clear that our industry is still operating in challenging conditions. But the report paints a picture of a sector which is consolidating and taking steps to prepare so it can exploit the opportunities that will present themselves when the overall economy improves.
“Contributing £185bn to the UK economy when the sector has been dealing with global geopolitical volatility, new trade processes, a financial recession, and pressures on the supply chain caused by changing climate conditions is a great achievement.
“It demonstrates the sector’s resourcefulness and adaptability to keep the UK trading and satisfy the demands of businesses and consumers alike.”
