A shift from China to Africa
Reducing dependence on China and boosting investment in Africa: These are the strategies logistics executives will pursue this year. A study conducted by Agility found that half of the professionals surveyed expect a global recession in 2024. More than half of the respondents are moving their supply chains to local or nearby markets, while many are specifically pulling out of China.
To battle recessions and rising costs, shippers are looking to invest in digital solutions. This is a consequence of the aftermath of the pandemic: the use of digital freight forwarding is expected to increase by almost 15 % this year.
The respondents will also focus on African markets. Despite the risks associated with investing in emerging markets, companies are seeking long-term benefits from burgeoning businesses in the region. (mk)