Dublin, April 12, 2024 (GLOBE NEWSWIRE) -- The "Nepal International Remittance Market Business and Investment Opportunities - Analysis by Transaction Value & Volume, Inbound and Outbound Transfers to and from Key States, Consumer Demographics - Q1 2024" report has been added to ResearchAndMarkets.com's offering.
The international remittance market in Nepal has showcased a robust performance as recent analysis indicates substantial growth in both inbound and outbound transfers.
The inbound remittance market has seen an invigorating 8.4% increase during 2023, culminating in a projected value of US$ 11.52 billion in 2024. This trajectory is expected to continue with a Compound Annual Growth Rate (CAGR) of 5.4% from 2024 to 2028, potentially reaching US$ 14.23 billion.
Inbound and Outbound Remittance Trends
Parallel to the inbound sector's prosperity, the outbound remittance market has also experienced positive movement with a 1.7% growth through the same period, reaching US$41.4 million in 2024. This segment is forecasted to achieve a steady CAGR of 1.0%, expecting to ascend to US$43.2 million by 2028.
Market Opportunities and Consumer Insights
The report elucidates comprehensive insights into the remittance landscape, highlighting noteworthy opportunities in transaction value and volume, alongside average value per transaction. The diligent analysis encompasses a breakdown of key market players and delineates the market opportunity by channel. In addition, the report provides an in-depth consumer profile in the Nepalese remittance space, offering strategic data across various demographics including age group, income, occupation, and purpose of transfers.
Remittance Flow and Channel Analysis
An essential component of the report is the remittance flow analysis which examines the market opportunity by key sending countries and states or regions within Nepal. It also offers a market share comparison by transfer channel, facilitating comprehension of the digital, mobile, and non-digital remittance corridors.
Strategic Benefits for Stakeholders
The findings deliver critical information for stakeholders seeking to understand the competitive landscape and market dynamics. Businesses and investors are provided with actionable insights enabling the formulation of informed decisions and strategies. With the provided forecasts of future market growth, stakeholders can effectively plan and adapt their business models to the evolving remittance ecosystem in Nepal. Conclusion
The growth of Nepal's remittance market signifies not just an increase in the transactional capacity but also reflects the economic connectivity and reliance between Nepal and the global economy. With comprehensive data analyses and future market forecasts, the report stands as a pivotal resource for understanding this key economic indicator's past trends and future potential.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 130 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $11.5 Billion |
| Forecasted Market Value (USD) by 2028 | $14.2 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Nepal |
For more information about this report visit https://www.researchandmarkets.com/r/vecrdj
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