Overview

Easy money: Strong growth in online money transfer platforms helps drive industry revenue

IBISWorld’s Money Transfer Agencies market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

REPORT SNAPSHOT

Industry Analysis & Industry Trends

The Money Transfer Agencies industry has recorded robust growth over the past five years. This growth is largely due to the increasing globalisation and rising mobility of labour. Industry revenue is closely linked to the number of overseas workers employed in Australia, with many sending money back to their respective countries to support their families. The resilience of the Australian economy relative to other developed economies and its skill shortages make Australia an attractive place for overseas workers to seek employment. An increasing number of subclass 457 working visas being granted over the past five years has supported this trend. As a result, industry revenue is expected to increase at an annualised 9.5% over the five years through 2016-17, to $297.3 million...

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What is the Money Transfer Agencies industry?

The Money Transfer Agencies industry exhibits a low level of capital intensity. For every dollar paid as wages, an estimated $0.12 is spent on capital investment. Money transfer agencies tend to be labour-intensive, with employees required to perform the role of a teller and transact with customers for kiosk-based businesses. The online business model is more capital intensive due to a lack of retail outlets. Overall, capital intensity is anticipated to rise over the next five years as operators shift towards an online business model and online money transfers gain more market share...

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Products & Brands

Major products in this industry
In-store money transfer operations
Online money transfer operations

Table of Contents

About this Industry

Industry Definition
Main Activities
Similar Industries
Additional Resources

Industry at a Glance

Industry Performance

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

Products & Markets

Supply Chain
Products & Services
Major Markets

Globalisation & Trade

Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry

Major Companies

Operating Conditions

Capital Intensity

Key Statistics

Industry Data
Annual Change
Key Ratios

Jargon & Glossary

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