KSA International Outbound Remittance Industry Outlook to 2018
Rising Remittances to India to Fuel Growth
September 2014
107
About the Report
About the Report
- The market size of the KSA International Outbound Remittance Market.
- Market segmentation of the KSA International Outbound Remittance Market on the basis of Bank and Non-Bank Channel, Major Flow Corridors, Modes of Delivery and remittances conducted by Saudis and Non-Saudis.
- Migrants in the KSA by Countries
- Occupational Structure of Migrants
- Drivers of the KSA Remittance Market
- Products and Services provided by leading banks and MTOs in the KSA.
- Competitive landscape of the major banks and MTOs operating in the KSA remittance market.
- Macroeconomic factors affecting the transaction volume in the KSA remittance market.
- Future outlook and projections of the KSA International Outbound Remittance Market, on the basis of transaction volume during 2014-2018.
Products
Products
Outbound Remittance, Flow Corridors, Banking Channel, Non-Banking Channel, Transaction Volume, Number of Transactions, Nitaqat program
Companies
Saudi Post, Tahweel Al Rajhi, Enjaz, Telemoney, Saudi American Bank, National Commercial Bank, Money Express, Arab National Bank, Bank Albilad
Table of Contents
Table of Contents
TABLE OF CONTENTS
Executive Summary
Macro Environment in the KSA Affecting the Remittance Market
International Remittance Market
1. The KSA Macro Economic Environment and Factors
1.1. The KSA Macro Environment Overview: Historical and Projections
1.1.1. GDP and Personal Disposable Income in the KSA, 2008-2018
1.1.2. Population Demographics of the KSA, 2008-2018
1.1.3. Labour Participation in the KSA and Unemployment Rate, 2008-2013
1.1.4. Average Monthly Wages in the KSA, 2008-2018
1.1.5. Number of Deportations from the KSA, 2011-2013
1.1.6. Migration of Saudi Students Abroad: Destinations Involved, 2011
1.2. Migrants in the KSA
1.2.1. Number of Migrants in the KSA, 2008-2018
1.2.2. Occupational Structure of Migrants in the KSA, 2008-2013
1.2.3. Issues Faced by Migrant Workers in the KSA
1.2.4. Factors Considered by Potential Migrants Moving to the KSA
1.3. Indian Workers in the KSA
1.3.1. Number of Indian Workers in the KSA, 2008-2012
1.3.2. Occupational Structure of Indian Expatriates in the KSA
1.4. Egyptian Workers in the KSA
1.5. Pakistani Workers in the KSA
1.5.1. Number of Pakistani Workers and Consumption Pattern of Pakistani Workers in the KSA, 2008-2012
1.6. Overseas Filipino Workers in the KSA
1.6.1. Number of OFW's in the KSA, 2008-2012
1.6.2. Occupational Structure of OFWs in the KSA, 2010
1.7. Number of Banks and ATMs in the KSA, 2008-2013
1.8. Initiatives Taken up by the Government of the KSA to Boost Economic Growth
1.9. The Fall of Saudi Oil Dominance: Impact on Remittance Industry
1.10. Infrastructure Development and Real Estate Prices
1.11. Saudi Nitaqat Program
2. The KSA Domestic Remittance Market
3. The KSA International Remittance Market
3.1. Global and the KSA International Remittance Market
3.2. Drivers of the KSA International Remittance Market
Increasing Average Wage Rates
Surging Foreign Labour Population
Rising Oil Prices and Infrastructural Development Generating Employment Opportunities
Favorable Consumption and Savings Patterns of Migrants
Wide Availability of Money Transfer Services
3.3. Products and Services in Bank and Non-Bank Channels
3.4. Transaction Volume in the KSA International Outbound Remittance Market, 2008-2013
3.5. Number of International Outbound Remittance Transactions in the KSA, 2013
3.6. The KSA International Remittance Market Segmentation
3.6.1. By Bank and Non-Bank Channels, 2013
3.6.2. By Major Outbound Remittance Flow Corridors, 2010-2012
India
Egypt
Pakistan
Philippines
Bangladesh
Sri Lanka
Yemen
Jordan
Indonesia
Lebanon
3.6.3. By International Outbound Remittance Transaction Volume by Saudis and Non-Saudis, 2008-2013
3.6.4. By Modes of Delivery (Direct Credit to Account, Branch Pick up and Door to Door Service Channels), 2013
3.7. Average Transaction Fee for Remittance to Major Flow Corridors, 2014
3.8. The KSA International Remittance Competitive Landscape
3.8.1. Market Share of Major Bank and Non-Bank Channels, 2013
3.8.2. Service Positioning, Strategy and Key Performance Indicators
3.8.3. Combating Terror Financing in the KSA
3.9. Future Prospects and Outlook- International Outbound Remittance in the KSA
3.9.1. Entry of Saudi Post: Expected to Drive Growth of Remittance Market of the KSA
3.9.2. New Technologies: Online and Mobile Services to Drive Future Growth
4. Appendix
4.1. Market Definitions
4.2. Abbreviations
4.3. Research Methodology
Data Collection Methods
Approach
Variables (Dependent and Independent)
Final Conclusion
4.4. Disclaimer
List of Figure
LIST OF FIGURES
Figure 1: Nominal GDP of the KSA in USD Billion, 2008-2018
Figure 2: Real GDP Growth Rate (%) of the KSA, 2008-2018
Figure 3: GDP of the KSA by Major Sectors on the Basis of Contribution in Percentage, 2013
Figure 4: Personal Disposable Income in the KSA in USD Billion, 2008-2018
Figure 5: Population of the KSA in Million, 2008-2018
Figure 6: Total Population in the KSA by Non-Saudis and Saudis on the Basis of Contribution in Percentage (%), 2008-2013
Figure 7: Total Labour Force in Millions in the KSA, 2008-2013
Figure 8: Unemployment Rate in the KSA in Percentage (%), 2008-2013
Figure 9: Average Monthly Wages in the KSA in USD, 2008-2018
Figure 10: Number of Deportations from the KSA, 2011-2013
Figure 11: Outbound Migration of Saudi Students from the KSA by Regions in Percentage, 2011
Figure 12: Number of Migrants in the KSA in Millions, 2008-2018
Figure 13: Issues Reported by Expatriates in the KSA in Percentage (%)
Figure 14: Nitaqat Zones According to Saudi Nitaqat Policy
Figure 15: Average Remittance Fee to Send Money from G20 Countries as a Percentage of the Total Amount Sent, Second Quarter-2013
Figure 16: Global Remittance Market Size on the Basis of Transaction Volume in USD Billion and the Contribution of the KSA in Percentage, 2008-2013
Figure 17: Transaction Volume of International Outbound Remittances in the KSA in USD Million and Year on Year Growth in Percentage (%), 2008-2013
Figure 18: The KSA Remittance Market Segmentation by Bank and Non-Bank Channel on the Basis of Percentage Contribution in Outbound International Remittance Transaction Volume, 2013
Figure 19: Percentage Share of Remittances Received by Different Countries from the KSA, 2010-2012
Figure 20: The KSA International Outbound Remittance Market Segmentation by Non-Saudis and Saudis on the Basis of Contribution in Transaction Volume in Percentage (%), 2008-2013
Figure 21: Modes of Delivery by Number of Transactions Conducted in the KSA Remittance Market, 2013
Figure 22: Market Share of Major Entities in International Outbound Remittance Market of the KSA Transaction Volume on the Basis of Contribution in Percentage, 2013
Figure 23: The KSA International Outbound Remittance Market Future Projections by Transaction Volume in USD Million and Growth Rate (%), 2014-2018
List of Table
Table 1: GDP of the KSA by Type of Economic Activity by Value in USD Billion and Contribution in Percentage (%), 2013
Table 2: Population Demographics of the KSA by Nationality and Gender in Millions, 2008-2013
Table 3: Breakdown of Labour Force in the Private Sector of the KSA by Major Economic Activity and Nationality, 2008-2013
Table 4: Labour Force and Unemployment Rate in the KSA, 2008-2013
Table 5: Number of Saudi Students Abroad by Destination Country and Gender, 2011
Table 6: Stock of Migrants in the KSA by Countries, 2010
Table 7: Percentage Breakup of Occupational Structure of Migrants in the KSA, 2008-2013
Table 8: Number of Migrants Engaged in the Private Sector of the KSA by Major Profession Types, 2008-2013
Table 9: Annual Labour Outflow from India to the KSA, 2008-2012
Table 10: Occupational Structure of Indians in the KSA, 2013
Table 11: Top Reasons for Overseas Migration from Pakistan to the KSA in Percentage (%)
Table 12: Annual Labour Outflow from Pakistan to the KSA, 2008-2012
Table 13: Average Monthly Salary, Expenditure and Savings in USD of a Pakistani Migrant in the KSA by Occupation, 2013
Table 14: Annual Labour Outflow from Philippines to the KSA, 2008-2012
Table 15: Number of Bank Branches and ATMs in the KSA, 2008-2013
Table 16: Number of Bank Branches by Major Banks in the KSA, 2009-2013
Table 17: Application of Nitaqat by Types of Business Units in the KSA
Table 18: Saudization Percentage by Types of Business Units under Different Nitaqat Zones
Table 19: Implications for Business Units in Different Nitaqat Zones
Table 20: Value of Transactions for SARIE System in USD, 2009-2013
Table 21: Total Number of International Outbound Remittance Transactions in a Year, Average Remittance Transaction Size and Number of International Outbound Remittance Transactions Conducted Per Month in the KSA, 2013
Table 22: The KSA Remittance Market Segmentation by Bank and Non-Bank Channel by Outbound Remittance Transaction Volume in USD Million, 2013
Table 23: Outbound Remittances Transaction Volume from the KSA to Different Countries in USD Million, 2010-2012
Table 24: The KSA International Outbound Remittance Market Segmentation by Non-Saudis and Saudis on the Basis of Transaction Volume in USD Million, 2008-2013
Table 25: Average Transaction Fee Charged for the KSA-India Flow Corridor in USD, as of May 15, 2014
Table 26: Average Transaction Fee Charged for the KSA-Egypt Flow Corridor in USD, as of May 15, 2014
Table 27: Average Transaction Fee Charged for the KSA-Pakistan Flow Corridor in USD, as of May 15, 2014
Table 28: Average Transaction Fee Charged for the KSA-Philippines Flow Corridor in USD, as of May 15, 2014
Table 29: Average Transaction Fee Charged for the KSA-Bangladesh Flow Corridor in USD, as of May 15, 2014
Table 30: Average Transaction Fee Charged for the KSA-Yemen Flow Corridor in USD, as of May 15, 2014
Table 31: Average Transaction Fee Charged for the KSA-Jordan Flow Corridor in USD, as of May 15, 2014
Table 32: List of Major Banks in the KSA by Remittance Centre/Alliance with MTOs, Number of Bank Branches, Year of Establishment, Market Share in Total Outbound International Remittance Transfers, and Remittance Transaction Volume in USD Million, 2013
Table 33: Market Share, Outbound International Remittance Transaction Volume (in USD Million), Number of Transactions (in Millions) and Remittance Income (in USD Million) of Major Banks and Non-Banks in the KSA, 2013
Table 34: Competitive Landscape of the Major Players in the KSA Remittance Market
Table 35: Correlation Matrix of the KSA International Outbound Remittance Market
Table 36: Regression Coefficients Output
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