Global Remittance Market is accounted to be US$ 49.49 million in 2020 with a CAGR of 7.6% during the forecast period - by PMI
Covina, CA, July 12, 2021 (GLOBE NEWSWIRE) -- The Global Remittance market accounted for US$ 49.49 million in 2020 and is anticipated to register a CAGR of 7.6%. Remittances are a term used to describe international money transfers. According to the World Bank, global remittances reached an all-time high of $689 billion in 2018, up from $633 billion in 2017. Increased migration to affluent nations, UN pressure to cut transfer fees, burgeoning FinTech and mobile payments technologies, and an increase in the number of non-bank remittance vendors such as MoneyGram and Western Union are all contributing to the rise in global remittances. As a result of the expanding refugee population and rapid urbanization, the worldwide remittance business was predicted to be worth $49.49 billion in 2019.
Global Remittance Market is accounted to be US$ 49.49 million in 2020 with a CAGR of 7.6% during the forecast period - by PMI
Covina, CA, July 12, 2021 (GLOBE NEWSWIRE) -- The Global Remittance market accounted for US$ 49.49 million in 2020 and is anticipated to register a CAGR of 7.6%. Remittances are a term used to describe international money transfers. According to the World Bank, global remittances reached an all-time high of $689 billion in 2018, up from $633 billion in 2017. Increased migration to affluent nations, UN pressure to cut transfer fees, burgeoning FinTech and mobile payments technologies, and an increase in the number of non-bank remittance vendors such as MoneyGram and Western Union are all contributing to the rise in global remittances. As a result of the expanding refugee population and rapid urbanization, the worldwide remittance business was predicted to be worth $49.49 billion in 2019.