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. 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.
Industry revenue is projected to generate revenue of $1.3 billion in 2013-14, including growth by 7.7% in the current year due to the projected jump in bankruptcies by 8.9% and increased unemployment... purchase to read more
Industry Report - Industry Analysis Chapter
Australia's increasingly two-speed economy since the onset of the global financial crisis has played into the hands of the Debt Collection industry. This is one of the few industries that generally benefits from the tightening of economic conditions and the accompanying rises in unemployment, loan defaults and bankruptcies. That said, it has not all been smooth sailing for the industry, as the slower economic growth tended to tighten corporate budgets for debt recovery. Some firms, notably Dun & Bradstreet, had collection activities on the eastern seaboard interrupted by the floods and cyclones of 2010-11... purchase to read more