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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 can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
OzForex Group OzForex Group market share
Industry Statistics & Market Size
Revenue
$232m
Annual Growth 09-14
6.2%
Annual Growth 14-19
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Profit
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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 Locations Chapter

IBISWorld expects that the spread of industry establishments largely follows the dispersion of the Australian population. As a result, Queensland, New South Wales and Victoria together account for 76.4% of industry establishments. New South Wales and Victoria both have a high concentration of industry establishments due to their population density and high number of international businesses. This has resulted in the two states housing large shares of establishment numbers. The higher concentration in these two states is also testament to the preference for industry players to be located close to key markets to drive retail store traffic... 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


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