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International Remittance Industry in Saudi Arabia: Outlook to 2025

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Restricted to one authorized user; Open on 1 PC/ mobile / Tablet only.
Print Option: No
Copy Option: No
Download Option: No
Deliverable Format : PDF viewable on the website via username

Single User License
USD 4500

Details

The publication titled ‘International Remittance Industry in Saudi Arabia’ covers the overview of industry by analyzing historical remittance statistics and corresponding change in social-demographic indicators in Qatar. With ~37% of expat population, the value of outbound remittance transactions were recorded at SAR xx Mn in 2020, up from SAR xx Mn in 2019.

Overview of Industry:

Saudi Arabia is one of the most economically prosperous country in Asia and hence is a prominent emigration destination to a many South Asian countries. Of the current population of 33 Million, more than 37% of population comprises of expats with India, Pakistan, Nepal, Philippines, Bangladesh, Sri Lanka and Egypt being key source countries.

During 2016-19, the international remittance industry in KSA declined from SAR xx Mn to SAR xx Mn, at a CAGR of xx%. However, during 2019-20, industry size increased by xx%.

India remains the largest outbound remittance corridor, accounting to xx% of the total outbound remittance. There has been growth in outbound remittance to other South Asian countries as well, like Pakistan and Bangladesh along with Egypt, Philippines etc

Drivers and Impediments to growth:

In line with the G20 National Remittance Plan 2019 of Saudi Arabia highlight the importance of opening the market to allow foreign MTO to set up business in KSA. This will encourage new players in the current market which is oligopoly in nature and dominated by XX players contributing to XX% market share.

The Saudi remittance market is undergoing digital transformation due to emergence of digital payment players and fintech start-ups. One of the fastest growing remittance player, STC Pay and few other firms gained the digital banking license which happened first time in the country.

The decline in the remittance value of remittance over the past 5 years in Saudi Arabia is a major risk for a new entrants. Due to the employment of only Saudi Nationals at higher level posts, more and more people are looking to move from Saudi Arabia, which poses a deterrent to growth.

A Vibrant Future Outlook:

Given the backdrop of increase in volume and value of outbound international remittance transactions, analysts at Ken Research expect a growth of XX% during 2020-21 and CAGR of XX% during 2020-25F.

During this period, value of transactions is expected to peak in 2025 which will be driven by the opening of the market for foreign MTOs and growing adoption of digital solutions.

Analysts at Ken Research further expect that digitalization of services and corresponding marketing campaigns are expected to drive the revenue of remittance industry at a CAGR of XX% during 2020-25F

Key Topics Covered in the Report

  • Overview of International Remittance Industry in Saudi Arabia (Statistics on Corridor wise Transaction volume and value)
  • Industry segmentation (By Type of Transfers, Corridor wise)
  • Cross Comparison of Major players on Operational and Financial Parameters (December 2020)
  • Company Profile of Major Players (Overview, Products and Services, USP, Business Strategies, Branch wise Operational Performance, Cumulative Financial Performance, Recent Developments)
  • Growth Drivers and Challenges to Saudi Arabia International Remittance Industry
  • Industry trends and developments
  • Risk factors in the industry
  • Rules and Regulations by Government Bodies
  • Impact of COVID-19 and Future Outlook of Industry
READ MORE

Table Of Content

Scope

1. Overview of International Remittance Industry of KSA
1.1. Market size of Industry basis Value of Transactions (2016-20)
1.2. Market size of the industry basis revenue from remittance players (2016-20)
1.3. Market segmentation basis Type of Flows (Inbound and Outbound)
1.4. Market segmentation of Outbound Remittance transaction value basis Corridor (India, Nepal, Bangladesh, Pakistan, Sri Lanka, Philippines, Egypt and others)

2. Trends and Developments in International Remittance Industry of KSA
2.1. G20 National Remittance Plan
2.2. Digitalization, Growing Fintech Space

3. Rules and Regulations in International Remittance Industry of KSA
3.1. Licensing requirements
3.2. Capital requirements
3.3. Fees and Terms & Conditions for obtaining a License

4. Competitive Landscape of International Remittance Industry of KSA
4.1. Competition scenario between major Banks
4.2. Year of Establishment, Branches in KSA and Digital Solution offering of banks
4.3. Cross-Comparison among top players basis:
4.3.1. Volume of monthly Outbound Remittance Transactions (December 2020)
4.3.2. Market share basis volume of monthly Outbound Remittance Transactions (December 2020)
4.3.3. Annual Value of Outbound Remittance Transactions in Mn (December 2020)
4.3.4. Market share basis Annual Value of Outbound Remittance Transactions in Percentage (December 2020)
4.3.5. Market share basis revenue from outbound remittance transactions in Percentage, 2020
4.3.6. Corridor wise value of outbound transaction cost, 2020
4.3.7. Market share basis corridor wise value of outbound transaction in Percentage, 2020

5. Company Profiles of Top Players on parameters – Company Overview, Products and services offered, USP, Branch-wise Operational Performance, Financial Performance, Impact of COVID-19 on Business
5.1. Bank Al Rajhi
5.2. Bank Albilad
5.3. Quick Pay
5.4. STC Pay
5.5. Arab National Bank
5.6. Bank Al Jazira
5.7. Riyad Bank
5.8. Bank Saudi Central

6. Porter 5 Forces analysis

7. Risk Factors governing International remittance industry of KSA

8. Impact of COVID-19 and Future Outlook of Industry
8.1. Future market size basis value of international remittance transactions in SAR Mn, 2020-25F
8.2. Future market size basis revenue from inbound and outbound international remittance transactions in SAR Mn, 2025F

9. Research Methodology
9.1. Definitions
9.2. Research Methodology
9.3. Research Limitations

Disclaimer

Contact us

Licence Rights

License Type Excel Only Single User Single User + Excel Hard Copy Corporate User License
Deliverable Format :viewable on the website via username :viewable on the website via username ; :viewable on the website via username :Printed Publication/ Book by Post ; :viewable on the website via username
What will it include? Statistics and charts only; no qualitative content Qualitative & quantitative aspects of the market Qualitative & quantitative aspects in PDF + statistics and charts in excel Printed report including qualitative and quantitative aspects Qualitative & quantitative aspects in PDF + statistics and charts in excel
Print Option
User Sharing Restricted to one registered login Restricted to one registered login Restricted to one registered login Access to Printed Report; No Soft Copy Multiple Users within the Company/ Enterprise
Download Option
Copy Option
Citation Yes (Not Publically; but to Private Parties within the company/ affiliate) Yes (Not Publically; but to Private Parties within the company/ affiliate) Yes (Not Publically; but to Private Parties within the company/ affiliate) Yes (Not Publically; but to Private Parties within the company/ affiliate) Yes (Not Publically; but to Private Parties within the company/ affiliate)
Customization 20%
Analyst Time (Post Purchase Queries on Call/ Email)
Disclaimer : In no circumstance, the complete / part of the publication may be resold for monetary terms by the client or any other party related to the client or can be made available on third party website or on Google for general public view.

Section Purchase

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Company Profile

Company Profile Title

The publication titled ‘International Remittance Industry in Saudi Arabia’ covers the overview of industry by analyzing historical remittance statistics and corresponding change in social-demographic indicators in Qatar. With ~37% of expat population, the value of outbound remittance transactions were recorded at SAR xx Mn in 2020, up from SAR xx Mn in 2019.

Overview of Industry:

Saudi Arabia is one of the most economically prosperous country in Asia and hence is a prominent emigration destination to a many South Asian countries. Of the current population of 33 Million, more than 37% of population comprises of expats with India, Pakistan, Nepal, Philippines, Bangladesh, Sri Lanka and Egypt being key source countries.

During 2016-19, the international remittance industry in KSA declined from SAR xx Mn to SAR xx Mn, at a CAGR of xx%. However, during 2019-20, industry size increased by xx%.

India remains the largest outbound remittance corridor, accounting to xx% of the total outbound remittance. There has been growth in outbound remittance to other South Asian countries as well, like Pakistan and Bangladesh along with Egypt, Philippines etc

Drivers and Impediments to growth:

In line with the G20 National Remittance Plan 2019 of Saudi Arabia highlight the importance of opening the market to allow foreign MTO to set up business in KSA. This will encourage new players in the current market which is oligopoly in nature and dominated by XX players contributing to XX% market share.

The Saudi remittance market is undergoing digital transformation due to emergence of digital payment players and fintech start-ups. One of the fastest growing remittance player, STC Pay and few other firms gained the digital banking license which happened first time in the country.

The decline in the remittance value of remittance over the past 5 years in Saudi Arabia is a major risk for a new entrants. Due to the employment of only Saudi Nationals at higher level posts, more and more people are looking to move from Saudi Arabia, which poses a deterrent to growth.

A Vibrant Future Outlook:

Given the backdrop of increase in volume and value of outbound international remittance transactions, analysts at Ken Research expect a growth of XX% during 2020-21 and CAGR of XX% during 2020-25F.

During this period, value of transactions is expected to peak in 2025 which will be driven by the opening of the market for foreign MTOs and growing adoption of digital solutions.

Analysts at Ken Research further expect that digitalization of services and corresponding marketing campaigns are expected to drive the revenue of remittance industry at a CAGR of XX% during 2020-25F

Key Topics Covered in the Report

  • Overview of International Remittance Industry in Saudi Arabia (Statistics on Corridor wise Transaction volume and value)
  • Industry segmentation (By Type of Transfers, Corridor wise)
  • Cross Comparison of Major players on Operational and Financial Parameters (December 2020)
  • Company Profile of Major Players (Overview, Products and Services, USP, Business Strategies, Branch wise Operational Performance, Cumulative Financial Performance, Recent Developments)
  • Growth Drivers and Challenges to Saudi Arabia International Remittance Industry
  • Industry trends and developments
  • Risk factors in the industry
  • Rules and Regulations by Government Bodies
  • Impact of COVID-19 and Future Outlook of Industry
READ MORE

Scope

1. Overview of International Remittance Industry of KSA
1.1. Market size of Industry basis Value of Transactions (2016-20)
1.2. Market size of the industry basis revenue from remittance players (2016-20)
1.3. Market segmentation basis Type of Flows (Inbound and Outbound)
1.4. Market segmentation of Outbound Remittance transaction value basis Corridor (India, Nepal, Bangladesh, Pakistan, Sri Lanka, Philippines, Egypt and others)

2. Trends and Developments in International Remittance Industry of KSA
2.1. G20 National Remittance Plan
2.2. Digitalization, Growing Fintech Space

3. Rules and Regulations in International Remittance Industry of KSA
3.1. Licensing requirements
3.2. Capital requirements
3.3. Fees and Terms & Conditions for obtaining a License

4. Competitive Landscape of International Remittance Industry of KSA
4.1. Competition scenario between major Banks
4.2. Year of Establishment, Branches in KSA and Digital Solution offering of banks
4.3. Cross-Comparison among top players basis:
4.3.1. Volume of monthly Outbound Remittance Transactions (December 2020)
4.3.2. Market share basis volume of monthly Outbound Remittance Transactions (December 2020)
4.3.3. Annual Value of Outbound Remittance Transactions in Mn (December 2020)
4.3.4. Market share basis Annual Value of Outbound Remittance Transactions in Percentage (December 2020)
4.3.5. Market share basis revenue from outbound remittance transactions in Percentage, 2020
4.3.6. Corridor wise value of outbound transaction cost, 2020
4.3.7. Market share basis corridor wise value of outbound transaction in Percentage, 2020

5. Company Profiles of Top Players on parameters – Company Overview, Products and services offered, USP, Branch-wise Operational Performance, Financial Performance, Impact of COVID-19 on Business
5.1. Bank Al Rajhi
5.2. Bank Albilad
5.3. Quick Pay
5.4. STC Pay
5.5. Arab National Bank
5.6. Bank Al Jazira
5.7. Riyad Bank
5.8. Bank Saudi Central

6. Porter 5 Forces analysis

7. Risk Factors governing International remittance industry of KSA

8. Impact of COVID-19 and Future Outlook of Industry
8.1. Future market size basis value of international remittance transactions in SAR Mn, 2020-25F
8.2. Future market size basis revenue from inbound and outbound international remittance transactions in SAR Mn, 2025F

9. Research Methodology
9.1. Definitions
9.2. Research Methodology
9.3. Research Limitations

Disclaimer

Contact us

License Type Excel Only Single User Single User + Excel Hard Copy Corporate User License
Deliverable Format :viewable on the website via username :viewable on the website via username ; :viewable on the website via username :Printed Publication/ Book by Post ; :viewable on the website via username
What will it include? Statistics and charts only; no qualitative content Qualitative & quantitative aspects of the market Qualitative & quantitative aspects in PDF + statistics and charts in excel Printed report including qualitative and quantitative aspects Qualitative & quantitative aspects in PDF + statistics and charts in excel
Print Option
User Sharing Restricted to one registered login Restricted to one registered login Restricted to one registered login Access to Printed Report; No Soft Copy Multiple Users within the Company/ Enterprise
Download Option
Copy Option
Citation Yes (Not Publically; but to Private Parties within the company/ affiliate) Yes (Not Publically; but to Private Parties within the company/ affiliate) Yes (Not Publically; but to Private Parties within the company/ affiliate) Yes (Not Publically; but to Private Parties within the company/ affiliate) Yes (Not Publically; but to Private Parties within the company/ affiliate)
Customization 20%
Analyst Time (Post Purchase Queries on Call/ Email)
Disclaimer : In no circumstance, the complete / part of the publication may be resold for monetary terms by the client or any other party related to the client or can be made available on third party website or on Google for general public view.
To know more information on Purchase by Section, please send a mail to support@kenresearch.com

INQUIRE FOR COVID-19 IMPACT ANALYSIS