Bangladesh International Remittance Market Report 2024: Significant Growth Expected with Continued Expansion through 2028
Dublin, April 12, 2024 (GLOBE NEWSWIRE) -- The "Bangladesh 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.
The international remittance market in Bangladesh has demonstrated a robust performance, with substantial annual growth marking its recent trajectory. In the year 2023, the inbound remittance market saw an 11.9% increase, culminating in US$ 23.63 billion by the first quarter of 2024. The market is projected to continue to expand at a compound annual growth rate (CAGR) of 7.5% from the year 2024 to 2028, estimated to reach a market size of US$ 31.61 billion. Concurrently, Bangladesh's remittance outflow market also depicted a notable surge of 15.3% within the same year, reaching US$ 178.3 million in 2024. Future forecasts remain optimistic, predicting a CAGR of 10.1% from 2024 to 2028, potentially elevating the market value to US$ 261.5 million.
*Technological Advancements and Market Opportunities*
The integration of digital and mobile platforms in the remittance sphere has played an essential role in shaping the landscape of the remittance market in Bangladesh. These channels have not only streamlined the process of funds transfer but have also broadened accessibility and convenience for users. With a comprehensive analysis extending to transaction values, volumes, and average transaction values, this recent overview indicates substantial market opportunities across digital, mobile, and non-digital channels. Emphasis is placed on understanding consumer demographics, revealing vital insights into the age, income, occupation, and purposes behind remittance transactions.
*Strategic Analysis for Future Market Direction*
An in-depth analysis of the consumer profile both for inbound and outbound remittances aligns stakeholders with key trends defining the market. The granular level data caters to an understanding that distinguishes age groups, income brackets, and occupation particulars of both senders and beneficiaries, coupling these metrics with the purposes that underpin remittance flows.
Furthermore, a detailed remittance flow analysis illuminates the directional movement of funds to and from specific states and regions, offering a clear view of market opportunities linked to key sending countries. This detailed research presents the crucial data necessary for strategic decision-making and forecasting for various stakeholders in the remittance industry.
*Commitment to Strategic Growth and Industry Insight*
The significance of these findings extends to a broad array of stakeholders including financial institutions, governmental bodies, policy makers, and businesses invested in the remittance ecosystem. This market insight supports corporate strategy formulation and risk assessment, enabling informed decisions to be made with regard to market entry and expansion. Forecasts of the international remittance market's growth are invaluable for those looking to invest in and capitalize on the trends within Bangladesh.
The prospect of continued expansion offers a compelling landscape for businesses and investors who are prepared to engage with this dynamic market. In conclusion, the international remittance market in Bangladesh displays a vibrant and promising outlook, underscored by strong growth figures and the prospect of sustained expansion well into the future.
*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 130
Forecast Period 2024 - 2028
Estimated Market Value (USD) in 2024 $23.6 Billion
Forecasted Market Value (USD) by 2028 $31.6 Billion
Compound Annual Growth Rate 7.5%
Regions Covered BangladeshFor more information about this report visit https://www.researchandmarkets.com/r/qmbloy
*About ResearchAndMarkets.com*
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
*Attachment*
· Bangladeshi International Remittance Market
CONTACT:
CONTACT: ResearchAndMarkets.com
Laura Wood,Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900