Malaysia Forecasts Steady Growth in International Remittance Market Through 2028


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Malaysian International Remittance Market

Malaysian International Remittance Market

Malaysian International Remittance Market

Dublin, April 16, 2024 (GLOBE NEWSWIRE) — The “Malaysia International Remittance Market Business and Investment Opportunities – Analysis by Transaction Value & Volume, Inbound and Outbound Transfers to and from Key States, Consumer Demographics – Q1 2024” report has been added to ResearchAndMarkets.com’s offering.

A robust and comprehensive analysis of Malaysia’s international remittance market has uncovered significant growth trends through the first quarter of 2024. With an anticipated continuation of expansion through to 2028, both inbound and outbound remittance markets are expected to demonstrate sustained growth, underpinned by advancements in digital and mobile transfer mechanisms.

The inbound remittance market in Malaysia has witnessed an upward trajectory with a 3.3% increase during 2023, elevating the transaction value to US$ 1.74 billion in 2024. This market is projected to uphold a compound annual growth rate (CAGR) of 2.0% from 2024 leading up to 2028, with forecasts estimating a market size of US$ 1.88 billion.

In parallel, remittance outflows have also seen a rise of 2.4% during the same period, reaching US$ 9.35 billion in 2024. This segment is expected to grow at a CAGR of 1.5%, from a base of US$ 9.13 billion in 2023 to an anticipated US$ 9.93 billion by 2028.

The analysis delves into the fine details of the remittance landscape, scrutinizing transaction values and volumes across digital, mobile, and non-digital channels, and presents an insightful look at consumer demographics. It identifies patterns such as the average value per transaction, alongside a study of the market shares held by pivotal players in the industry.

Further segments of the analysis provide a granular overview of consumer profiles, encompassing age groups, income brackets, occupational classifications, and purposes behind remittance transactions. Such dissection of data offers a closer look at the dynamics influencing remittance flows into and out of Malaysia.

Transactional Flow and Market Prospects

The analysis also spotlights remittance flows both from and to key states and regions. It maps the transactional landscape from top sending countries into Malaysia, alongside characterizing the remittance flow from specific Malaysian states to diverse destinations across the globe. This information furnishes stakeholders with an understanding of both macro and micro remittance trends.

Strategic Insights for Stakeholders

Armed with actionable insights and forecasts, businesses, and investors in the Malaysia remittance market stand to benefit from this report. The detailed examination of market trends and growth projections equips stakeholders with the necessary tools to make informed strategic decisions, accentuating the importance of understanding the competitive landscape and recognizing emerging opportunities.

The expansive nature of this analysis underscores its significance as a tool for stakeholders to refine their operational and investment strategies within the evolving landscape of Malaysia’s international remittance market.

Key Attributes:

Report Attribute

Details

No. of Pages

130

Forecast Period

2024 – 2028

Estimated Market Value (USD) in 2024

$1.7 Billion

Forecasted Market Value (USD) by 2028

$1.9 Billion

Compound Annual Growth Rate

2.0%

Regions Covered

Malaysia

For more information about this report visit https://www.researchandmarkets.com/r/7qqjh5

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This article was originally published by a finance.yahoo.com . Read the Original article here. .