The global remittance market size was significantly robust in 2020 and is expected to register a steady revenue CAGR during the forecast period. Increasing international migrant population, and rising adoption of banking and financial services are key factors boosting global market revenue growth.
Remittance is transfer of money by migrants to their home countries and also by individuals from rural areas who have migrated to urban areas in search of employment or work. Remittance is also used by parents to send money to their children studying overseas. Remittance is also widely used to make donations to religious and charitable institutions abroad, towards grants and donations to other governments established charitable institutions, and to contribute/donate to international institutes and institutions established by governments. Making remittance is relatively easy and can be done using a debit or credit card, or an e-wallet to transfer money to a remittance service provider, which will then be converted into the currency of the receiving country and paid out to the beneficiary.
Major players in the market include
Western Union Holdings Inc., Bank of America, Citigroup Inc., Euronet Worldwide Inc., JPMorgan Chase Co., MoneyGram International Inc., Societe Generale, RIA Financial Services Ltd., The Kroger Co., TransferWise Ltd., UAE Exchange, Wells Fargo, Scotiabank, ABSA, and XOOM are some major players operating in the global remittance market.
Get a Free sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1007
Type Outlook (Revenue, USD Billion; 2018 – 2028)
- Inward Remittance
- Outward Remittance
Channel Outlook (Revenue, USD Billion; 2018 – 2028)
- Money Transfer Operators
Application Outlook (Revenue, USD Billion; 2018 – 2028)
- Investments Others
End-Use Outlook (Revenue, USD Billion; 2018 – 2028)
Region Outlook (Revenue, USD Billion; 2018 – 2028)
Rest of Europe
- Asia Pacific
- South Korea
Rest of Asia Pacific
- Latin America
Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/1007
Thank you for reading our report. For customization inquiry or further information, please connect with us and we will ensure you get the report that meets your requirements.
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
Head of Business Development
Direct Line: +1-212-710-1370
Reports and Data | Web: www.reportsanddata.com