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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 | Dec 2014

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 Group OzForex Group market share
Industry Statistics & Market Size
Revenue
$252m
Annual Growth 10-15
6.9%
Annual Growth 15-20
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Profit
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Employment
1,358
Businesses
193
Industry Analysis & Industry Trends

The Money Transfer Agencies industry has recorded solid growth over the past five years. The industry came away from the financial crisis relatively unscathed, mainly due 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 Analysis Chapter

Money transfer agencies in Australia felt few effects of the global financial crisis compared with other financial services providers. Industry growth has been supported by strong fundamental factors over the past five years. The increasing globalisation of markets, labour mobility and Australia's financially stable position have been the main contributors to revenue growth. These have created a favourable environment where more people have migrated to Australia in search of employment, often leaving their families behind. Therefore the need for money transfer services has been increasing as these workers continue to support their families. A rise in 457 working visa applications is a good indicator of this trend... 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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