foodpanda added $1.2bn to economic activity in FY24: study

KARACHI: An independent study has revealed that foodpanda contributed a remarkable $1.2 billion to Pakistan’s economic activity during the fiscal year 2023–24 (FY24), underscoring its growing role in the country’s digital economy and job creation.

foodpanda on Wednesday has released its comprehensive “Economic Impact Assessment of foodpanda in Pakistan” study, independently conducted by the Lahore University of Management Sciences (LUMS). The first-of-its-kind study unveils the significant economic contributions of foodpanda to Pakistan’s economy.

The study, spearheaded by an accomplished team at LUMS, utilized primary and secondary data sources including input output multipliers for the local economy to establish a technical assessment of the businesses’ contribution to the fabric of the economy.

The study reveals a projected $1.2 Billion or PKR 335 billion contribution to Pakistan's economy in FY24, with the number continuing to increase compared to the previous 2 years. The study also finds strong multiplier effects across food, hospitality, manufacturing, transport, and retail.

In FY24, foodpanda facilitated PKR 75 billion in restaurant GMV (total revenue accruing to restaurants through the platform), significantly boosting income and jobs in the sector. In the same year, the platform also contributed PKR 9.76 billion in taxes and has empowered over 50,000 riders and numerous entrepreneurs, driving financial inclusion via fintech.

Commenting on the collaborative effort, Muntaqa Peracha, CEO foodpanda Pakistan said that in-depth study by LUMS is a powerful validation of foodpanda’s significant role in Pakistan’s economic landscape. It showcases strong multiplier effects across industries and highlights our role in directly boosting income and jobs, along with a significant tax contribution.

“The insights provided by the research are invaluable, and fuel our determination to continue innovating, expanding our services, and improving financial inclusion and social responsibility, all while building a truly prosperous digital future for Pakistan”, he added.

Also speaking on foodpanda’s impact on the nation’s economy, Dr. Kashif Z. Malik, Associate Professor, Department of Economics at LUMS, commented, “Our research at LUMS reveals that foodpanda’s impact extends far beyond just food and grocery delivery. This study highlights its fundamental role in stimulating growth across a diverse range of sectors, empowering a significant number of individuals through entrepreneurship and livelihood opportunities, and contributing substantially to the digital and financial inclusion landscape of Pakistan.”

The study unequivocally demonstrates the platform’s transformative impact on Pakistan’s food delivery ecosystem, creating substantial opportunities for small businesses and gig workers while making a significant contribution to the national economy.

Micro-level impacts include 100% income growth for 13,000+ partner restaurants, an average PKR 120,000 monthly income for 7,000+ HomeChefs (primarily women), and income increases for 57% of 50,000+ freelance riders.

foodpanda is steadfast in its commitment to enabling an inclusive digital economy and continues to innovate and expand, it remains dedicated to empowering individuals, supporting businesses, and enabling sustainable growth, solidifying its position as a key contributor to the nation’s prosperity.

Moreover, the scale of foodpanda’s investment and the resulting economic and financial inclusion highlight the immense potential within Pakistan and the strength of its evolving digital ecosystem, encouraging further investment in the sector.

Copyright Business Recorder, 2025