Remittance Market Size, Share & Trends Analysis Report, 2022–2030
The global remittance market size was estimated at USD 48.99 billion in 2021 and is projected to reach USD 107.80 billion by 2030, growing at a CAGR of 10.1% from 2022 to 2030. Cross-border remittances provide numerous economic benefits, including increased financial inclusion and economic development. Remittances are extremely important in the lives of migrants and their families. Money received in migrant households in their countries of origin accounts for most of the household income, typically spent on necessities such as medicines, education, food, and housing. Sending money abroad has traditionally been time-consuming and costly, as evidenced by the never-ending chains of intermediaries, hidden fees, and manual paperwork. Fortunately, advancements in the industry over the last few years mean that individuals and even small-to-medium-sized businesses can now benefit from cheaper, faster, and value-added foreign fund transfer services. Large ...