Money Transfer/Remittance Market Growth Driven by Globally Escalating Migrant Population

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Jan 08, 2015, 01:20 ET

DALLAS, January 8, 2015 /PRNewswire/ --

MarketReportsOnline.com adds Global Remittance Report: 2014 Edition research report of 72 pages to the banking and financial services industry intelligence collection of its online market research library.

The growth of the remittance market is strongly driven by growing international migration as the people migrate chiefly with the focus of sending their earnings to their families back home. In 2013, international migrants comprised about 3.2% of the world population, compared to 2.9% in 1990. International migrants signify a huge customer base for the worldwide remittance industry. Over US$160 billion have reached rural families in developing countries. Driven to various socio-political and economic factors, the same is expected to steadily grow in the near future. This is further anticipated to prove instrumental in the growth of the global remittance market. Complete report is available at http://www.marketreportsonline.com/380104.html .

As per the report Global Remittance Report: 2014 Edition, apart from unceasing increasing migrant population, other factors which are providing the immense growth opportunities for global remittance market include rising employed and urban population and ameliorating global economic development. Some of the noteworthy developments of this industry include unstable remittance cost, the impact of remittance on health, education and poverty, wide portfolio of remittance services and correlation between remittance and foreign exchange rates. Also, the number of electronic payment service providers that offer over-the-counter-payments, mobile money payment and payment cards have increased rapidly.

Remittance is defined as transfer of money by a person who resides in a foreign country to his or her home country. Remittance industry contributes to economic growth and livelihoods of people across the world. In most of the developing countries, money sent by foreign migrants to their home countries constitutes the second largest financial inflow to the respective nations. Furthermore, in the money receiving countries, remittance industry promotes further economic dependence on the global economy instead of building sustainable local economies. Remittance channel is collectively comprised of a sender, a recipient, intermediaries in both countries and the payment interface used by the intermediaries. The remittance system encompasses the following components: Remittance Service Providers (RSP), Remittance Corridors, Remittance Network and Money Transfer System. Remittance services are divided primarily on the basis of ways a network of access points is created and linked. There are broadly four categories: unilateral services, franchised services, negotiated services and open services.

The Western Union Company, MoneyGram International, Inc. and Euronet Worldwide, Inc. are profiled in this research with their individual business strategies like Expansion in Emerging Markets, Expanding Global Presence, Expansion through Collaborations, Enhancing Service Portfolio, Expansion through Partnerships and Growth through Acquisitions are discussed. Order a copy of Global Remittance Market Report: 2014 Edition at http://www.marketreportsonline.com/contacts/purchase.php?name=380104 .

The list of charts provided in table of contents for remittance market report includes:

Account-Based Model
Basic Non-Account Based Model
Value Chain: Remittance Industry
Global Remittance Inflow (2007-2014E)
Global Remittance Outflow (2007-2013)
Remittance Flow to Low Income Countries (2009-2015E)
Remittance Flow to Middle Income Countries (2009-2015E)
Remittance Flow to High Income Countries (2009-2015E)
Remittance Flow to Developing Countries (2009-2015E)
Remittance Flow to East Asia and Pacific Region (2009-2015E)
Remittance Flow to Europe and Central Asia Region (2009-2015E)
Percentage Change in Remittance Outflows from Western Europe (2007-2013)
Percentage Change in Remittance Inflows to Eastern Europe (2007-2013)
Remittance Flow to Latin America & Caribbean Region (2009-2015E)
Remittance Flow to Middle East and Africa Region (2009-2015E)
Remittance Flow to South Asia Region (2009-2015E)
Remittance Flow to Sub Saharan Africa (2009-2015E)
Top 10 Recipients of Migrant Remittances (2014E)
Top 10 Recipients of Migrant Remittances as % of GDP (2013)
Remittance Flows in India (2007-2013)
Remittance Flows in China (2007-2013)
Remittance Inflow in Philippines (2007-2014E)
Remittance Inflow in Mexico (2007-2014E)
Distribution of Remittances by Channel (Jan 2013- Oct 2013)
Remittance Flows in the US (2007-2013)
Remittance Flows in Russian Federation (2007-2013)
Remittance Outflow from Saudi Arabia (2007-2013)
Remittance Outflow from Top 3 European Countries (2007-2013)
International Migrants Population (1990-2013)
Top 10 Countries of Destination (2013)
Breakdown of Forced Migration (2013)
Global GDP (2006-2013)
World GDP per Capita (2006-2013)
Global Employed Population (2002-2013E)
Global Urban Population (2007-2013)
Exchange Rate of Indian Rupee against US$ (Q111-Q314)
Exchange Rate of Mexican Peso against US$ (Q111-Q314)
Exchange Rate of Philippine Peso against US$ (Q111-Q314)
Global Weighted Average for Sending US$200 (2008-Q314)
Average Cost of Remitting from G20 Countries (Q314)
Average Cost by Remittance Service (Q314)
Availability of Product Type (Q314)
Number of RSPs in Common Sending Countries (Q413)
Cost for Sending US$200 (2008-Q314)
Western Union's Revenue by Business Segments (2013)
Western Union's Revenue and Net Income (2009-2013)
MoneyGram's Revenue Share by Business Segments (2013)
MoneyGram's Revenue and Net Income (2009-2013)
Euronet's Revenue Share by Business Segments (2013)
Euronet's Revenue and Net Income (2009-2013)
Global Remittance Inflow Forecast (2011-2018F)

Explore more reports on the banking and financial services industry at http://www.marketreportsonline.com/cat/banking-services-market-research.html .

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