Market Research Report Overseas Filipino Remittance Philippines,Money Rem | Page 12

June 2017
Philippines Remittance Market Outlook to 2021
Philippines Domestic and International Money Transfer Industry Outlook to 2021 –Ken
Research
Ken Research latest Report on
“ Philippines Domestic and International Money
Transfer Industry Outlook to 2021 – Growing Number of Overseas Filipino Workers and
Technological Advancements to Aid Market Growth” provides a comprehensive
analysis of remittance and bill payments market in Philippines. The report covers
market size, segmentation on the basis of remittance corridor, mode of remittance,
major occupation group and distribution of OFWs by cash remittance sent for
international remittance market. For domestic remittance market it covers market
size, segmentation on the basis of remittance channel, type of services and major
flow corridors. It also includes the bill payments market in the country covering the
market size and segmentation by type of bills. The report also covers government
regulations in the market, competitive landscape and company profiles for major
players in the remittance and bill payments market. The report provides detailed
overview on future outlook & projections with analyst recommendations for the
industry.
The report facilitate the readers with the identification and in-depth analysis of the
existing and future trends, issues and challenges prevalent in the industry and
anticipated growth in the future depending upon changing industry dynamics in
coming years. The report is useful for industry consultants, remittance service
providers (MTOs), banks, local agents and other stakeholders to align their market
centric strategies according to ongoing and expected trends in the future.
Industry Overview
Philippines remittance market is led by the international remittances and domestic
remittances which are represented by the OFW remittance inflow, the domestic
remittances. During 2011-2016, the international and domestic remittance markets
have showcased a remarkable growth at a CAGR of ~%. Market growth can be
attributed to factors like increasing number of OFWs, growing infrastructure and
developmental activities, rising business sectors and increasing job opportunities
within the country, surging BPO sector and other related factors. Similarly, there had
been a tremendous growth in the Philippines bill payments market displaying a
CAGR of ~% during 2011-2016. The amplification exhibited by the market should be
owed to rising utility bills due to the rising consumption of energy, water, mobile
phones, internet facilities and other utilities.
Market Segmentation
International Remittance Market
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