Amazon's Economic Impact in Europe: Creating Jobs and Boosting Local Economies

Amazon's 2024 impact report highlights its significant contribution to Europe's GDP, with over €41 billion. The company directly employs 150,000 people in the EU, with many in low-employment areas. Amazon has created over 6,000 jobs in France's Hauts-de-France region, and its fulfillment centers have had a positive impact on local economies, with 94% of residents citing job creation as a key benefit. Amazon has invested over €320 billion in infrastructure and workforce across Europe since 2010.

Amazon's latest impact report, released on June 4, 2024, underscores the company's significant economic contributions to Europe. According to the report, Amazon contributed over €41 billion to Europe's GDP and over €29 billion to the EU27 [1]. This figure is more than the entire GDP of Latvia, highlighting the company's substantial economic footprint.

Mariangela Marseglia, VP of Amazon Stores EU, emphasized that Amazon's impact extends beyond mere numbers. "We're creating opportunities where they're needed most, supporting local economies, and helping to revitalize communities across the continent," she stated.

Amazon directly employs 150,000 people in the EU, with a notable presence in areas with higher unemployment rates. In France's Hauts-de-France region, for instance, Amazon has created over 6,000 jobs in the past decade, contributing to the region's economic revitalization. The fulfillment center at Lauwin-Planque employs over 2,600 permanent staff, with 84% living within a 30-minute drive. Eleven years after opening, 71% of locals report a positive or very positive impact, with 94% citing job creation as a key benefit [1].

Moreover, Amazon's investments in infrastructure and workforce have been substantial. Since 2010, the company has invested over €320 billion across Europe (€38 billion in the EU27) [1]. This investment has driven employment in diverse skill sets, particularly through Amazon Web Services (AWS) and cloud computing offerings. For example, Amazon plans to invest €8.8 billion in Frankfurt, supporting 15,200 full-time equivalent jobs and contributing an estimated €15.4 billion to Germany’s GDP by 2026 [1]. In the UK, a £8 billion (€9.5 billion) investment is planned by the end of 2028, supporting 14,000 jobs annually and contributing £14 billion (€16.6 billion) to the UK’s total GDP [1].

These investments are expected to continue, with further plans in France and Spain. In France, a €6 billion investment in cloud infrastructure is planned until 2031, contributing €16.8 billion to France’s GDP and supporting an average of 5,271 full-time jobs annually [1]. In Spain, a €15.7 billion injection is planned to support 17,500 jobs annually and contribute an estimated €21.6 billion to Spain’s gross domestic product (GDP) through to 2033 [1].

Amazon's impact on European economies is evident, with significant contributions to GDP and job creation, particularly in areas with higher unemployment rates. The company's continued investment in infrastructure and workforce is likely to further enhance its economic footprint in the region.

References:
[1] https://finance.yahoo.com/news/amazon-outlines-job-initiatives-europes-082027129.html