SEARCH   
MEMBER LOGIN    

Money Transfer Agencies in Australia: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Money Transfer Agencies Market Research Report | Advisory & Financial Services | Financial Intermediaries | Oct 2013

Transferring revenue: Online operators are growing at the expense of retail kiosks

IBISWorld’s Money Transfer Agencies market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
OzForex OzForex market share
Industry Statistics & Market Size
Revenue
$232m
Annual Growth 09-14
6.2%
Annual Growth 14-19
Purchase to read more
Profit
Purchase to read more
Employment
1,322
Businesses
187
Industry Analysis & Industry Trends

The Money Transfer Agencies industry has grown solidly over the five years through 2013-14. The industry came away from the financial crisis relatively unscathed. This is mainly attributed to the increasing globalisation and rising mobility of labour. Industry revenue is closely linked to the number of overseas workers employed in Australia who send money back to their respective countries to support their families. The Australian economy has recovered relatively quickly following the global financial crisis. Low unemployment rates, especially compared with those of Europe, and skill shortages make Australia an attractive place for overseas workers to seek employment. This trend is supported by the rising number of 457 working visas granted over the past five years... purchase to read more

Industry Report - Industry Key Buyers Chapter

The Money Transfer Agencies industry exhibits a low level of market share concentration. The top four players in the industry account for much less than 40.0% of industry revenue and are not expected to increase above this level over the coming five years. The low level of concentration is largely due to the diversity in consumer markets and the preference for familiar or close industry establishments. This is partly due to the high number of specialised industry establishments such as agencies that deal specifically with money transfer to China or India. IBISWorld expects that consumers are likely to frequent establishments closer to them and more suited to their purposes, especially those who transfer money frequently... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Money Transfer Agencies Industry?

Firms in the industry act as third-party agents that facilitate money transfers and payments between parties in different locations. The industry excludes bank wire services and card-based services.

Industry Products
Online money transferRetail money transferIn-store money transfer operations
 
Industry Activities
In-store money transfer operationsRetail money transferOnline money transferIn-store money transfer operationsRetail money transferOnline money transfer


View Sample
Quote
Select Clients