foodpanda’s $1.2 Billion Economic Boost in Pakistan

Karachi: In a groundbreaking study conducted by the Lahore University of Management Sciences (LUMS), foodpanda, Pakistan’s premier online delivery platform, is projected to contribute $1.2 billion (PKR 335 billion) to the country’s economy in the fiscal year 2023-2024. This independent assessment marks a significant milestone, highlighting foodpanda’s growing economic impact.

The study, which employed both primary and secondary data sources, reveals foodpanda’s extensive contribution across diverse sectors, including food, hospitality, manufacturing, transport, and retail. According to the findings, the platform facilitated PKR 75 billion in restaurant revenue, boosting the income and employment levels within the sector.

foodpanda’s influence extends beyond financial figures. The platform is credited with generating PKR 9.76 billion in taxes and empowering over 50,000 riders, alongside numerous entrepreneurs, through its fintech initiatives. This effort underscores foodpanda’s commitment to financial inclusion.

Muntaqa Peracha, CEO of foodpanda Pakistan, emphasized the significance of the study, stating it validates the platform’s vital role in the economic landscape. He noted the strong multiplier effects across industries, which include direct income and job growth, as well as substantial tax contributions.

LUMS’ Dr. Kashif Z. Malik highlighted the platform’s far-reaching impact. He noted that foodpanda’s role transcends mere food and grocery delivery, having a pivotal role in spurring growth across various sectors and supporting entrepreneurship and livelihoods.

The study further demonstrates foodpanda’s transformative impact on Pakistan’s food delivery ecosystem, creating significant opportunities for small businesses and gig workers. It reported a 100% income growth for over 13,000 partner restaurants and an average monthly income of PKR 120,000 for more than 7,000 HomeChefs, primarily women.

As foodpanda continues its expansion and innovation, it remains committed to fostering an inclusive digital economy, supporting businesses, and promoting sustainable growth. This positions the platform as a key contributor to Pakistan’s economic prosperity, encouraging further investment in the country’s evolving digital ecosystem.