Dublin, April 15, 2024 (GLOBE NEWSWIRE) -- The "Italy 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.
Recent analysis highlights a positive trajectory in the Italian international inbound remittance market, with a marked growth of 5.2% in 2023, culminating in a transaction value of US$ 12.06 billion by the beginning of 2024. The sector is poised for a continued expansion with a forecast compound annual growth rate (CAGR) of 3.3% from 2024 through to 2028, ultimately projected to reach a value of US$ 13.75 billion. Outbound Remittance Market Insights
Parallel to the inbound sector, Italy's outbound remittance market has also witnessed growth, albeit at a more modest rate of 0.5% during 2023. Estimates suggest the market will attain a transaction value of US$ 11.65 billion in 2024. Over the period extending from 2024 to 2028, the outbound market is expected to record a CAGR of 3.5%, with an anticipated increase to US$ 13.35 billion.
The analysis delves into the intricate dynamics of both inbound and outbound international remittance markets in Italy, providing detailed insights into transaction values, volumes, and the average value per transaction. This comprehensive overview extends to an examination of market opportunities segmented by channels, including digital, mobile, and non-digital platforms, alongside consumer demographics and key sending/receiving countries.
Technological Impact on Remittance Transactions
Significant shifts towards digital and mobile channels have been observed, reshaping the remittance landscape in Italy. This transformation is reflected in the increased transaction values and volumes through these channels, signifying a shift in consumer preference towards more technologically integrated transaction methods.
Strategic Market Opportunities
The findings serve as a pivotal resource for businesses and investors, offering actionable insights that are instrumental in identifying new market opportunities, optimizing strategy, and mitigating risks. The meticulous data analysis equips stakeholders with the necessary intelligence to navigate the remittance ecosystem efficiently.
Forecast and Operational Strategy Groundwork
Furthermore, the forward-looking approach of the report provides businesses and investors with forecasts essential for strategic planning. This foresight enables industry players to align their operational strategies with anticipated market growth trajectories, ensuring long-term sustainability and competitiveness in the evolving Italian remittance market. The latest trends and strategic analyses set forth in these insights underscore the burgeoning potential and significant impact of remittance flows on Italy's economy, offering a detailed outlook for industry stakeholders.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 130 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $12.1 Billion |
| Forecasted Market Value (USD) by 2028 | $13.8 Billion |
| Compound Annual Growth Rate | 3.3% |
| Regions Covered | Italy |
For more information about this report visit https://www.researchandmarkets.com/r/klpm12
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
