Global Remittance Industry to 2025

DUBLIN, December 15, 2021 / PRNewswire / – The “Global Remittance (Money Transfer) Market: Insights and Forecast with Potential Impact of COVID-19 (2021-2025))” the report was added to offer.

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The global influx of remittances is expected to reach US $ 745.1 billion in 2025, with a CAGR of 1.20%, for the period 2021-2025.

Factors such as reducing the costs of remittances, increasing international migration, improving youth unemployment rate, increasing urbanization, increasing number of international students and increasing population of refugees would lead to the growth of remittances. However, market growth would be compromised by fluctuating transfer costs by region, risk reduction practices, and strict government regulations. A few notable trends may include the emergence of fintech platforms, growing demand for mobile payment transactions, increasing options for sending money, and strong pressure to reduce transfer fees on OTAs are expected to boost the market. market in the future.

Due to the COVID-19 outbreak, the market has had to witness a decline in both cash inflows and outflows as the economic conditions in most countries have been severely affected. Due to the declining employment rate, given the closure of businesses, people have encountered obstacles in sending money to their families in their home country, which has had a negative impact on the business. global remittance industry in 2020.

The global remittance market is categorized on the basis of remittance inbound and outbound remittance by country. Lower-middle-income regions are the main sources of remittance inflows, while high-income regions are generally the sources of remittance outflows. In 2020, South Asia took a dominant position in the global influx of remittances. While in terms of country, India remained the largest destination country for remittances, followed by China. While the United States remained the main source of cash outflows.

Scope of the report

  • The report provides a comprehensive analysis of the global remittance market with potential impact from COVID-19.

  • The large regional markets (East Asia and Pacific, Europe and Central Asia, Latin America and the Caribbean, Middle East and North Africa and South Asia, Sub-Saharan Africa) were analyzed.

  • Market dynamics such as growth drivers, market trends and challenges are analyzed in depth.

  • The competitive landscape of the market, along with the company profiles of major players (US Bancorp, PayPal Holdings Inc., Absa Group Limited, The Western Union Company, Euronet Worldwide, Inc. and MoneyGram International Inc.) are also presented in detail. .

Main topics covered:

1. Overview
1.1 Discount
1.2 Components of the Remittance Market
1.3 Remittance Market Value Chain

2. Impact of COVID-19
2.1 Impact on economic growth
2.2 Impact on migrants and their income
2.3 Impact on the regional market

3. Global market analysis
3.1 Inflows of global remittances
3.2 Global Forecast of Remittances
3.3 Global Remittance Inflows by Country
3.3.1 Forecasting Remittances to India
3.3.2 Forecast of Remittances to China
3.3.3 Forecasting Remittances to Mexico
3.3.4 Forecasting Remittances to the Philippines
3.3.5 Egypt, Forecasting of remittances to the Arab Republic
3.3.6 Forecasting Remittances to Nigeria
3.3.7 Forecasting Remittances to Pakistan
3.3.8 Forecasting Remittances to Bangladesh
3.3.9 Forecasting Remittances to Vietnam
3.3.10 Forecasting remittances to Ukraine
3.4 Inflows of global remittances to the low-middle-income region
3.5 Forecasting Global Remittances to the Low-Middle-Income Region
3.6 Global outflows by country
3.6.1 Forecasting remittances to the United States
3.6.2 Forecast of Remittances to United Arab Emirates
3.6.3 Forecast of Saudi Arabian cash outflows
3.6.4 Forecast of cash outflows in Switzerland
3.6.5 Forecast of cash outflows in Germany

4. Regional market analysis
4.1 Inflows of Remittances to the Lower Middle Income Region
4.2 South Asia Remittance Forecast
4.3 Forecasting Remittances in East Asia and the Pacific
4.4 Latin America & Forecasting remittances in the Caribbean
4.5 Europe & Forecasting of remittances in Central Asia
4.6 Middle East & Forecasting remittances in North Africa
4.7 Forecasting Remittances in Sub-Saharan Africa

5. Market dynamics
5.1 Growth drivers
5.1.1 Reduction of transfer fees
5.1.2 Increase in international migration
5.1.3 Improve the youth unemployment rate
5.1.4 Increase in the number of international students
5.1.5 Increase in refugee population
5.1.6 Booming urbanization
5.2 Key trends and developments
5.2.1 Emergence of Fintech platforms
5.2.2 Growing demand for mobile payment transactions
5.2.3 Boom money sending options
5.2.4 High pressure to reduce OTA transfer fees
5.3 challenges
5.3.1 Fluctuation in transfer costs by region
5.3.2 World Bank support
5.3.3 Risk reduction practices
5.3.4 Strict government regulations

6. Competitive landscape
6.1 Global market
6.1.1 Key players – Income comparison
6.1.2 Key players – Market capitalization comparison
6.1.3 Comparison of services offered by money transfer operators

7. Company profiles
7.1 U.S. Bancorp
7.1.1 Company overview
7.1.2 Financial overview
7.1.3 Business strategies
7.2 PayPal Holdings Inc.
7.2.1 Company overview
7.2.2 Financial overview
7.2.3 Business strategies
7.3 Absa Group Limited
7.3.1 Company Overview
7.3.2 Financial overview
7.3.3 Business strategies
7.4 The Western Union company
7.4.1 Company overview
7.4.2 Financial overview
7.4.3 Business strategies
7.5 Euronet Worldwide, Inc.
7.5.1 Company overview
7.5.2 Financial overview
7.5.3 Business strategies
7.6 MoneyGram International Inc.
7.6.1 Company overview
7.6.2 Financial overview
7.6.3 Business strategies

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