What is the Money Transfer Agencies industry?
The Money Transfer Agencies industry is in the growth phase of its life cycle. Industry value added, which measures an industry's contribution to the economy, is forecast to grow at an annualised 5.2% over the 10 years through 2021-22. This represents an outperformance of overall GDP, which is projected to grow at an annualised 2.6% over the same period, indicating the industry's contribution to the economy is increasing.
Increasing labour mobility and globalisation will underpin demand for money transfer services over the next five years. The number of migrants in Australia is increasing and this trend is expected to continue as the economy improves... purchase to read more