China's international remittance market
DUBLIN, April 9, 2024 (Globe Newswire) — “Business and Investment Opportunities in the China International Remittance Market – Analysis of Transaction Value and Volume, Remittances to and from Key Countries, and Consumer Statistics – 2024 Q1 report added to ResearchAndMarkets.com Recruitment.
China's international remittance market showed a strong performance in the first quarter of 2024, with inbound remittances reaching USD 52.34 billion, an increase of 4.8% year-on-year. On the other hand, the international remittance sector showed tremendous growth, increasing by 18.8% to USD 25.25 billion. Market forecasts show that both inbound and outbound remittances are showing a continued growth trajectory, with expected CAGR of 3.1% and CAGR of 11.8%, respectively, by 2028.
The press release provides insight into the diverse channels driving growth in the remittance sector. Trends show that digital channels are highly preferred for both inbound and outbound transactions due to the ease of access and convenience they offer. Additionally, the report provides a nuanced understanding of consumer demographics such as age, income, and occupation, along with the purpose of the transaction, revealing broader socio-economic conditions that influence remittance flows.
Regional highlights and international corridors
A closer look reveals the importance of geographic nuances, with certain states and regions emerging as important nodes in remittance flows. It includes details of major sending countries, states and regions, and analysis of market opportunities by market share by remittance channels. Such detailed information is essential for stakeholders aiming to optimize their strategic positioning within the market.
Impact on stakeholders
The strong growth of China's remittance market has far-reaching implications for various stakeholders, including financial institutions, fintech companies, and policy makers. This upward trend reflects the country's growing role in the world economy and its increasing interconnections with international labor and financial markets. Stakeholders can leverage this valuable data-rich analysis to inform strategic decisions and risk assessments, and identify new opportunities for investment and development within the sector.
Strategy for the future
This report is forward-looking in nature and is designed to assist businesses and investors in developing effective strategies for the future. By providing forecasting and analysis-based insights, this report provides market participants with the tools they need to anticipate market movements and adjust their growth plans accordingly.
In summary, China's international remittance market is on the rise, creating many opportunities for businesses and investors. Careful monitoring of market trends and detailed analysis through industry research informs strategic decisions and lays the foundation for continued engagement and success in this dynamic financial sector.
Key attributes:
|
report attributes |
detail |
|
number of pages |
130 |
|
Forecast period |
2024 – 2028 |
|
Estimated market value in 2024 (USD) |
$52.3 billion |
|
Projected market value to 2028 (USD) |
$59.1 billion |
|
compound annual growth rate |
3.1% |
|
Target area |
China |
range
International inbound market opportunity trend analysis in China
Market share of major companies in China
Overseas inbound market opportunity trend analysis by channel in China
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Digital (transaction value, transaction volume, average amount per transaction)
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Mobile (transaction amount, transaction volume, average amount per transaction)
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Non-digital (transaction value, transaction volume, average amount per transaction)
International remittance analysis of Chinese consumer profile
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Analysis by age group of callers
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Analysis by sender income
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Analysis of callers by occupation
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Analysis of beneficiaries by occupation
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Analysis by purpose
International remittance flow analysis in China (country to state/region)
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Market opportunities by major sending countries (transaction value, transaction volume, average amount per transaction)
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Market Share by Transfer Channel by Key States/Regions
International outbound market opportunity trend analysis in China
International outbound market opportunity trend analysis by channel in China
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Digital (transaction value, transaction volume, average amount per transaction)
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Mobile (transaction amount, transaction volume, average amount per transaction)
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Non-digital (transaction value, transaction volume, average amount per transaction)
International remittance analysis of Chinese consumer profile
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Analysis by age group of callers
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Analysis by sender income
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Analysis of callers by occupation
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Analysis of beneficiaries by occupation
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Analysis by purpose
International remittance flow analysis in China (from state/region to country)
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Market opportunities by major sending countries (transaction value, transaction volume, average amount per transaction)
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Market Share by Transfer Channel by Key States/Regions
For more information about this report, please visit https://www.researchandmarkets.com/r/uf8zm3.
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