Dublin, April 12, 2024 (GLOBE NEWSWIRE) -- The "Uzbekistan 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 Uzbekistan has shown remarkable growth, witnessing a 10.5% increase in the inbound sector, which reached an impressive US$ 22.83 billion in 2024. Simultaneously, the outbound remittance sector has grown by 18.9% in 2023, reaching a total of US$911.2 million in 2024. These flourishing figures underscore the dynamic nature of Uzbekistan's remittance landscape.
Inbound Remittance Trends
Uzbekistan's inbound remittance market is set to maintain its momentum with a forecasted compound annual growth rate (CAGR) of 7.1% from 2024 to 2028, suggesting that the market size may increase from US$ 20.65 billion in 2023 to US$ 29.98 billion by 2028. This expansion is indicative of robust economic activities and the increasing role of remittances in the nation's economy.
Outbound Remittance Prospects
Similarly, the outbound remittance market is projected to experience a compounded growth, with the CAGR predicted at 12.1% during the same forecast period. The expected rise from US$766.3 million in 2023 to US$ 1.43 billion by 2028 highlights the increasing global integration and financial outreach of Uzbekistan's citizens.
The report presents an in-depth analysis covering various facets of the remittance market, including transaction values and volumes. It encompasses the growing significance of digital and mobile transactions in a rapidly evolving technological landscape. Moreover, consumer profiling offers insight into remittance activities, underlining factors such as age, income, and occupation of both senders and beneficiaries.
Strategic Growth Opportunities
This detailed analysis reflects the critical importance of the international remittance market in Uzbekistan and identifies strategic growth opportunities within the sector. It enables a clear understanding of market dynamics and aids stakeholders to make informed business decisions benefiting from the identified trends and forecasts.
Market Growth Forecast
Business entities and investors looking to harness the potential of Uzbekistan's expanding remittance market can benefit from the forward-looking insights. The predicted growth trends highlight the need for strategic planning and investment to maximize the opportunities presented by this growing market sector. The report serves as a strategic tool for understanding the broader economic implications of remittance flows and their influence on Uzbekistan’s economy.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 130 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $22.8 Billion |
| Forecasted Market Value (USD) by 2028 | $30 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Uzbekistan |
For more information about this report visit https://www.researchandmarkets.com/r/8mjtjk
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