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Money Transfer Agencies in Australia - Industry Market Research Report

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    Report

  • 64 Pages
  • October 2023
  • Region: Australia
  • IBISWorld
  • ID: 3972766

Transferred: Competition from online-only operators has reduced industry profitability

Money Transfer Agencies in Australia

The Money Transfer Agencies industry grew early in the past five-year period, largely due to globalisation and rising labour mobility. Industry revenue is closely linked to the number of overseas workers employed in Australia, with many sending money to their respective countries to support their families. The resilience of the Australian economy in relation to other developed economies and its skill shortages have made Australia an attractive place for overseas workers to seek employment. Despite this, industry revenue is expected to decline at an annualised 0.9% over the five years through 2021-22, to $756.3 million. This includes an anticipated 4.7% increase in the current year, due to recovering conditions following the COVID-19 pandemic.

Industry firms act as third-party agents that facilitate money transfers and payments among parties in different locations. The industry excludes bank wire services and card-based services.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Table of Contents

ABOUT THIS INDUSTRY
  • Industry Definition
  • Main Activities
  • Similar Industries
  • Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
  • Executive Summary
  • Key External Drivers
  • Current Performance
  • Industry Outlook
  • Industry Life Cycle
PRODUCTS & MARKETS
  • Supply Chain
  • Products & Services
  • Demand Determinants
  • Major Markets
  • International Trade
  • Business Locations
COMPETITIVE LANDSCAPE
  • Market Share Concentration
  • Key Success Factors
  • Cost Structure Benchmarks
  • Basis of Competition
  • Barriers to Entry
  • Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
  • Capital Intensity
  • Technology & Systems
  • Revenue Volatility
  • Regulation & Policy
  • Industry Assistance
KEY STATISTICS
  • Industry Data
  • Annual Change
  • Key Ratios
JARGON & GLOSSARY

Companies Mentioned

A selection of companies mentioned in this report includes:

  • OFX Group Limited

Methodology

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