Background:
Every year, an estimated USD 1.6 trillion flows through the global
remittance market. Conservative estimates on the size of China's
remittance market range from 8 billion to 14 billion. Other estimates
more generously place these figures between 10 and 20 billion USD,
with current growth rate of between 15% to 17%, almost double China's
average GDP growth rate.
Ian Marsh, senior vice-president and managing director of Western
Union Asia-Pacific, estimates that about 45 million Chinese live
overseas, of which 7 million (15.5%) are new immigrants. Other
sources estimate about 50 million Chinese living around the world.
These figures translate into incredible potential for growth in
Western Union's overseas remittance business.
Enquiry:
I need some sources about China's international and domestic
remittance (money transfer) market information. Updated in the last 2
years, In-depth ready-made public accessible report and analysis,
containing the figures and statistics URLs are preferred. |