|
|
 |
|
Viewing report
|
|
|
|
Global Money Transfer (Remittances) Market Report: 2010 Edition
Koncept Analytics, Oct 2010, Pages: 50
Remittance is constantly gaining importance in the economic planning of all the major developing economies of the world. With globalization and technological advancements in communication systems and more open approach to acquisition of manpower from across the borders, internationally, has given right to recognition of remittance as an important market phenomenon. According to the World Bank, the global remittance market reported a decline of 6.5% in 2009 in response to recent economic downturn. However it is anticipated that the global remittance market would grow at 9.2% during 2010-2011, as the global economy recovers.
The developing countries which include several low and middle income countries, account for more than three fourth of the global remittance inflows with majority contribution from India, China, Mexico and Philippines, due to their large emigrant population. East Asia & Pacific and South Asia region collectively account for almost half of the total remittance flows to developing countries. The Latin American and Caribbean region suffered the highest decline in terms of remittance flows due to the severe global economic downturn. The remittance flows from the US to Mexico which is the largest remittance corridor, faced significant pressure in the year 2009, both in terms of volume and price, due to severe challenges faced by the US economy.
With migration destinations becoming more diversified across the continents remittances are showing increased resilience and a shift in flow and share amongst the nations. During the period of crisis, remittances have emerged as source of external financing contributing to reduction in current account deficits. Telecom revolution has opened new vistas of remittances through mobile phones and microfinancing through leveraging remittances. The increasing international migration, rising employment rate with the opening up of economies contribute to growth of remittances.
The companies operating in the global remittance market face strong competition with few large competitors and numerous small and niche competitors. The leading money transfer organization like Western Union, Money Gram and Euronet, and other independent players compete on the basis of technology, price and quality of service offered to remitters.
The report analyzes the global remittances market with focus on India, China, Mexico and Philippines. It also discusses the major trends, growth drivers and challenges for the remittances market. The report presents the competitive structure of the industry and profiles major players with a discussion of their key business strategies.
By combining SPSS Inc.'s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
Also available
Global Money Transfer (Remittance) Market: An Analysis
Global Money Transfer (Remittances) Market Report: 2011 Edition
Customers who bought this item also bought
Global Money Transfer (Remittances) Market Report: 2011 Edition
Global Money Remittance Industry - Performance and Forecast 2016
Global Money Transfer (Remittance) Market: An Analysis
Remittances 2010: Products, Players and Strategies
South Asia's Wealth Diaspora - Looking Beyond Non-Resident Indians
Retailer Financial Services in North and Latin America
Retailer Financial Services in Eastern and South-Eastern Europe
South Asia’s Wealth Diaspora: Looking Beyond Non-Resident Indians
Retailer Financial Services in Northern and Central Europe
Money for Nothing and your Cheques for Free: How Banks Process Payments, from Small Transactions on your Mobile to Billion-dollar International Transfers
|
|
|
|
