Industry Analysis & Industry Trends
The Debt Collection industry typically thrives when the economy is stumbling as this leads to households defaulting on loans and a rise in business bankruptcies. However, the global financial crisis failed to support a surge in debt collecting services. Partly, this reflects efforts by households and businesses to pay down debt and boost savings, and the tightening of lending practices, resulting in better loans with less likelihood of defaulting.
Over the five years through 2012-13, the cyclical growth in the Australian economy has supported growth in industry revenue by an annualised 3.5% to reach $950.0 million. Conditions are improving slower than expected, but increasing consumer confidence and household disposable incomes should result in increased spending... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Debt Collection industry is in the growth stage of its economic life cycle. The industry is characterised by rapid growth, increasing technological change due to the way debt collectors assess and collect, wholehearted market acceptance and some new players entering the market despite consolidation. Over the past five years, the industry has endured tough conditions due to the global financial crisis and subsequent uncertainty regarding debt markets... purchase to read more