Dublin, April 12, 2024 (GLOBE NEWSWIRE) -- The "Dominican Republic 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 inbound remittance market has reported a significant increase of 6.4% during the year 2023, with projections reaching US$ 11.53 billion in 2024. Similarly, the international remittance outflow market has expanded by 5.5% during the same period, with an anticipated value of US$ 1.07 billion in 2024. This upward trend is expected to persist, with a compound annual growth rate (CAGR) of 4.3% from 2024 to 2028 for inbound remittances and a CAGR of 3.4% for outbound remittance market size.
The analysis delves into diverse aspects of the remittance market, offering a granular view of transaction values and volumes. It also highlights the average value per transaction, analyzing the main players in this burgeoning industry. The report sheds light on market opportunities segmented by different transfer channels, including digital, mobile, and non-digital mediums. Additionally, it provides an in-depth profile of consumers involved in international remittance practices, encompassing a range of demographics such as age groups, incomes, and occupations of both senders and beneficiaries.
Inbound and Outbound Market Opportunities by Channel
Insights reveal a significant tilt towards digital channels in the remittance landscape, showcasing compelling data on transaction values and volumes managed digitally. It also forecasts trends and growth opportunities within mobile and non-digital transfer channels.
Consumer Demographics Analysis
A section of the analysis is dedicated to profiling the consumer demographics engaging in the Dominican Republic's remittance market. This sector of the research examines key details about the senders and receivers, such as their respective age brackets, income levels, job sectors, and motivations behind the remittance activities.
Remittance Flow and Market Share by Region
The report also presents a thorough analysis of the remittance flow, pinpointing the key countries sending to and from the Dominican Republic and the market share by state or region. This offers a detailed understanding of the geographical dynamics influencing remittance transactions within the country.
Strategic Benefits for Stakeholders
Stakeholders in the Dominican Republic's remittance sector will find the key outcomes of this analysis to be a strategic asset. Businesses and investors receive actionable insights that can guide them towards new opportunities and informed decision-making. Forecasts within the report enable them to align their business strategies effectively with future market growth potentials.
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 | $13.7 Billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Dominican Republic |
For more information about this report visit https://www.researchandmarkets.com/r/vhjncr
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