DUBLIN, Jan. 29, 2024 /PRNewswire/ — The “Indonesia International Remittance Market Business and Investment Opportunities – Analysis by Transaction Value & Volume, Inbound and Outbound Transfers to and from Key States, Consumer Demographics – Q2 2023” report has been added to ResearchAndMarkets.com’s offering.
The report provides an in-depth analysis of the Indonesia international remittance market, highlighting significant business and investment opportunities. The report explores the upward trajectory of both inbound and outbound remittances in Indonesia, presenting a detailed overview for the second quarter of 2023.
Key Findings and Market Insights
The report underscores a steady increase in the volume and value of remittances moving into and out of Indonesia. With inbound remittances achieving a market size of US$ 9.95 billion in 2023, there’s a forecasted 2.9% compound annual growth rate (CAGR) expected through 2028. Conversely, outbound remittances also experienced a sizable bump to US$ 4.63 billion, predicting a CAGR of 3.3% within the same period.
Strategic Movements by Global and Fintech Firms
- Global players, including prominent Japanese and Middle Eastern firms, are entering the Indonesian market, leveraging strategic partnerships and innovative technologies such as blockchain for remittance services.
- Job opportunities and economic conditions are influencing remittance flows, with financial technology firms tapping into the market through strategic mergers and acquisitions.
Advancements in Payment Systems and Consumer Profiles
The analysis goes beyond transaction values and volumes, delivering a consumer-centric view that segments the remittance landscape by age, income, occupation, and remittance purpose. The report also provides insights into a groundbreaking trial initiative by the Indonesian central bank for QR-code-based cross-border payments with Singapore, enhancing the convenience and security of transactions for individuals and businesses.
Comprehensive Coverage and Market Projections
The research covers various channels, including digital, mobile, and traditional transfer methods, accompanied by forward-looking assessments and trend analysis. The report aims to equip stakeholders with a lucid understanding of current market dynamics and future growth prospects.
Benefits of the Report
- Multi-faceted analysis of the Indonesian remittance industry, with up-to-date figures and forecasts.
- High-level insights into the competitive remittance landscape.
- Identification of emerging business opportunities and mitigation of investment risks.
- Strategic planning assistance for market participants based on reliable market projections.
For more information about this report visit https://www.researchandmarkets.com/r/40qamw
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SOURCE Research and Markets
