Recession hits International Money Transfer Market Says New Report
Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report presenting the drivers of the global money transfer industry and the opportunities available within the market.
PRLog (Press Release) – Jun 10, 2009
The report “Global Money Transfer (Remittance) Market: An Analysis” available at http://www.reportbuyer.com/go/KOA04368 analyzes the historical trend of money transfers and the recent impact of economic slowdown on the industry.
The money transfer market or the remittance market is extremely large and has been growing at a steady rate over the last two decades, driven mostly by a combination of long-term trends relating to immigration flows, disparities among national economies and technological innovation.
According to the new report the remittance from overseas workers is under pressure as a consequence of the downturn in the global economy. With global GDP (gross domestic product) expected to contract by 0.9% in 2009 and with recession hitting the key destinations for migrants especially the United States, the European Union and the Gulf countries, the flow of remittances is expected to decline considerably this year. The developing countries that are popular for the export of labour have already started facing the inevitable problem of declining remittances with companies across the globe having started shedding employees.
The formal money transfer industry is highly fragmented with MTOs like Western Union, MoneyGram and Ria (Euronet) controlling a very small share of the total market. Smaller and local players hold the majority of the share but do not have the financial strength to gain further investments or market their products and develop their brands.
The report titled "Global Money Transfer (Remittance) Market: AnAnalysis" analyzes the historical trend of money transfers and therecent impact of economic slowdown on the industry. The report presentsthe drivers of the industry and the opportunities for the moneytransfer organizations despite a slowdown in the flow of remittances.The challenges that MTOs are facing have also been illustrated in thereport. Further, the competitive landscape of the industry in whichglobal MTOs like Western Union, MoneyGram, Euronet and Coinstar areoperating has also been analyzed. The future of the industry has alsobeen critically discussed in this report.
Report Buyer product ID: KOA04368
About Report Buyer.
Report Buyer (http://www.reportbuyer.com/business_books/management/ind ...) is the independent online store for global business information. The website now lists more than 100,000 company overviews, market research reports, industry studies and business books from over 270 specialist publishers. Thousands of professionals from across the world make ReportBuyer.com their first choice in their search for quality business insight.
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Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report presenting the drivers of the global money transfer industry and the opportunities available within the market.
FOR IMMEDIATE RELEASE
PRLog (Press Release) – Jun 10, 2009
The report “Global Money Transfer (Remittance) Market: An Analysis” available at http://www.reportbuyer.com/go/KOA04368 analyzes the historical trend of money transfers and the recent impact of economic slowdown on the industry.
The money transfer market or the remittance market is extremely large and has been growing at a steady rate over the last two decades, driven mostly by a combination of long-term trends relating to immigration flows, disparities among national economies and technological innovation.
According to the new report the remittance from overseas workers is under pressure as a consequence of the downturn in the global economy. With global GDP (gross domestic product) expected to contract by 0.9% in 2009 and with recession hitting the key destinations for migrants especially the United States, the European Union and the Gulf countries, the flow of remittances is expected to decline considerably this year. The developing countries that are popular for the export of labour have already started facing the inevitable problem of declining remittances with companies across the globe having started shedding employees.
The formal money transfer industry is highly fragmented with MTOs like Western Union, MoneyGram and Ria (Euronet) controlling a very small share of the total market. Smaller and local players hold the majority of the share but do not have the financial strength to gain further investments or market their products and develop their brands.
The report titled "Global Money Transfer (Remittance) Market: AnAnalysis" analyzes the historical trend of money transfers and therecent impact of economic slowdown on the industry. The report presentsthe drivers of the industry and the opportunities for the moneytransfer organizations despite a slowdown in the flow of remittances.The challenges that MTOs are facing have also been illustrated in thereport. Further, the competitive landscape of the industry in whichglobal MTOs like Western Union, MoneyGram, Euronet and Coinstar areoperating has also been analyzed. The future of the industry has alsobeen critically discussed in this report.
Report Buyer product ID: KOA04368
About Report Buyer.
Report Buyer (http://www.reportbuyer.com/business_books/management/ind ...) is the independent online store for global business information. The website now lists more than 100,000 company overviews, market research reports, industry studies and business books from over 270 specialist publishers. Thousands of professionals from across the world make ReportBuyer.com their first choice in their search for quality business insight.
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