Latin America and Africa need new approach
A new study, conducted by Economist Impact, shows that business is feeling the effects of inflation, geopolitical tension, port congestion and transportation costs in various and regionally specific ways, with companies in South America and Africa facing a more negative outlook.
The study surveyed executive-level participants representing businesses in 26 major countries across the globe. The research was commissioned by DP World on behalf of World Logistics Passport, a global, private sector-led, initiative designed to smooth the flow of global trade.
As much as 42.5% and 49.5% of executives surveyed in South America and Africa respectively identified higher transport costs as the top limitation for increasing exports.
This compared to 19.9% for those in China, 27.5% in India and 25% in UAE. Moreover, nearly one in three (31.7%) business leaders in the identified markets indicated that improved port and logistics infrastructures are drivers of import growth. (sh)
www.worldlogisticspassport.com