Image source: wsj.com

Image source: wsj.com

The world is more connected now than it was before, thanks to the latest innovations and modern infrastructure that continue to link countries and continents to form a globalized and unified movement, especially in terms of economic activities and development. From an economic perspective, globalization is defined as an unstoppable force that fueled a level of progress towards growing and interconnected global routes of production, distribution, and consumption.

However, the process of globalization won’t be complete without the necessary infrastructure that make these interconnections possible: airports and seaports are two key players that have helped transform metropolises into global cities.

Airports have helped physically connect every country in the world, consolidating international markets and facilitating in world trade, and most importantly, helping emerging economies have access to the main markets. This also made them (EMs) viable options to be tapped by investment ventures, such as offshore mutual funds and hedge funds.

Thanks to a more connected and accessible market, companies from developed countries successfully founded international operations as well as foreign subsidiaries in developing regions, enhancing import penetration and promoting homogenization of domestic markets.

Seaports, on the other hand, have played their role in facilitating commercial and trade activities by providing a strategic access to land and navigable waters. Essentially, they have served as the main component of the overall transportation sector both for human passengers and goods.

One of the reasons why many countries rely on seaway transport is because of its low-cost but highly effective transportation system. Industries and companies need affordable and secure means of exporting their products, goods as well as raw materials.  This is not a coincidence that the biggest industries around the world are either strategically located in the coastal belts or have access to a nearby major port.

Maritime port areas also host a variety of activities from infrastructure services, cargo handling, mooring, towage, and more.