Guatemala Experiences Steady Growth in International Remittance Market in 2024 - Forecasts to 2028

Dublin, April 17, 2024 (GLOBE NEWSWIRE) -- The "Guatemala 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's offering.

The international remittance market in Guatemala has exhibited substantial growth, with inbound remittances seeing a 5.0% increase in 2023, reaching a notable US$ 20.75 billion in Q1 2024. Analysts forecast a continued expansion, with a compound annual growth rate (CAGR) of 2.2% from 2024 to 2028, potentially achieving a market value of US$ 22.60 billion by the end of the period.

In parallel, the outbound remittance market in Guatemala has also shown remarkable progress, witnessing a 12.5% increase in 2023 to ascend to US$29.9 million in 2024. The forecast period from 2024 to 2028 predicts this market to grow at a CAGR of 8.2%, indicating a potential rise to US$41.0 million by 2028.

The report encompasses an extensive analysis of various channels involved in remittances, including digital, mobile, and non-digital platforms. A detailed exploration of consumer demographics provides insights into the age groups, income brackets, occupations, and purposes of both senders and beneficiaries involved in remittance transactions.

Regional and Country-Wide Remittance Flows

In-depth remittance flow analysis further sheds light on the movement of funds, comprehensively outlining the opportunities by key sending countries and delineating the market share held by transfer channels across various states and regions within Guatemala. Strategic Insights for Stakeholders

The data-driven findings offer valuable insights for stakeholders in the remittance market. Competitively, the high-level overview of the market share held by key players enables businesses and investors to understand the competitive landscape effectively. Forecast for Strategic Planning

The report not only facilitates a comprehensive understanding of the current market dynamics but also provides projections that are pivotal for strategic business planning. Stakeholders can leverage this information for forecasting market growth and refining their market strategies

The significant growth trajectory of the Guatemalan remittance market signals robust economic activity and presents lucrative opportunities for both domestic and international stakeholders operating within this sphere. The comprehensive analysis and forecasted growth trends underscore the vital role remittances play in Guatemala's economy and the broader global financial landscape.

Key Attributes:

Report AttributeDetails
No. of Pages130
Forecast Period2024 - 2028
Estimated Market Value (USD) in 2024$20.8 Billion
Forecasted Market Value (USD) by 2028$22.6 Billion
Compound Annual Growth Rate2.2%
Regions CoveredGuatemala

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Guatemalan International Remittance Market