Global Consumer Money Transfer Market: Industry Research Report

Global Consumer Money Transfer Market

Published Date: May 2004

Published By: Datamonitor

Page Count: 65

Order Code: R313-6677

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TABLE OF CONTENTS
ABOUT DATAMONITOR 2
CHAPTER 1 INTRODUCTION 7
The Cards & Payments Briefings Service 7
What is this briefing about? 7
Scope of the briefing 7
Who is the target reader? 8
How to use this briefing 8
CHAPTER 2 SIZING THE GLOBAL CONSUMER MONEY TRANSFER MARKET 10
Market sizing 10
Data is grouped under seven regions 10
The formal global consumer money transfer market accounted for US$57.6 billion in 2003 11
Inflows and outflows of remittances per region 12
Share of remittance inflows and outflows per region 14
Exclusions 15
Informal Money Transfer Systems 15
Drivers of the global consumer transfer money market 18
Migrant population 19
GDP of the hosting country and flexibility of the labor market 19
The cost of living in the hosting country 19
Regulatory framework 20
Expatriates 20
Foreign students 20
Political stability 21
Summary 21
CHAPTER 3 MONEY TRANSFER INSTRUMENTS 22
Classification of money transfer instruments 22
Money transfer facilitators 22
Conventional banking money transfer systems 27
International drafts and money orders 27
Bank wires 28
Emerging consumer money transfer instruments 29
Online wallets 30
ATM withdrawal 36
Benchmarking money transfer instruments 40
Summary 42
CHAPTER 4 FORECASTING THE GLOBAL CONSUMER MONEY TRANSFER MARKET 44
GDP is a key macro-economic factor when forecasting inflows and outflows of remittance 44
Soft factors 44
Exclusion 45
The global consumer money transfer market will reach US$69.8 billion in 2007 45
The thought process behind the forecast 46
Conclusions 50
Traditional providers are losing ground with the emergence of new money transfer instruments 51
The remittance market is not only a profitable market but it also provides further opportunities 51
APPENDIX 52
Supplementary data 52
Market sizing methodology 58
Step 1: Calculation of outflow of remittances 58
Step 2: Calculation of inflow of remittances 59
Step 3: Estimating the propensity to use money transfer services 59
Step 4: Calculation of the global consumer money transfer market - inflows and outflows 60
Forecasting methodology 60
Research methodology 61
Future readings 61
Current related Datamonitor reports and briefings 61
Future reports and briefings 61
Relevant links 62
Datamonitor’s custom research capabilities 62
SPP writing team 64
How to contact experts in your industry 65

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