Belgium Remittance Market Analysis, Industry Revenue and Future Outlook: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit What is the Size of Belgium Remittance Industry? Belgium Remittance market is growing at a CAGR of ~% in 2017-2022 and is expected to reach EUR ~ Bn by 2027F. The Belgium Remittance Market is largely driven by a rise in outbound remittances, which is led by stronger growth in the employment prospects in the euro area. Moreover, the appreciation in the currency is also a supportive factor for such growth of remittances in the region. The market has been fuelled by increased migration, increasing government support for new competitors, improved banking knowledge and increased awareness towards digitalized remittance services in the space. Covid had an impact on the overall growth, hindering the robust growth & causing fluctuations when it came to profit generation. Belgium has a moderately concentrated remittance market that is still in its growth stage. Banks dominate the inbound remittance market in terms of volume of transactions followed by MTOs, m-wallets and other channels including postal networks, credit union and informal channels. During the year 2020-21, personal remittances came to the rescue of Belgium. The region, thanks to its flow of personal remittances, recorded a current account deficit. Belgium showed a current account surplus of ~ Billion. Without personal remittances, this surplus could have easily turned into a current account deficit of ~ Billion in 2020. Belgium Remittance Market by Channels The Belgium Remittance market is segmented by Channels into Banking and non-banking channels. Choice of a remittance channel depends on the ease of access for payer and payee, cost involved, range of products and services offered, amount of remittance and similar. Belgium Remittance Market by flow Countries The Belgium Remittance market is segmented by flow Countries into ASEAN, Middle East, America, Europe, Africa and Others. Some developed countries are now net importers of cash, as professional people working abroad send increasing amounts of cash home. Belgium benefited from a huge remittance inflow in recent years. Belgium Remittance Market by Point of Contact The Belgium Remittance market is segmented by Point of Contact into Branch Pick-up, Mobile Payment & Online Transactions, Prepaid Cards. The inbound remittance market is dominated by branch pick-ups and mobile & online transactions equally followed by prepaid cards in terms of remittance transaction volume. Belgium Remittance Market by Flow Type The Belgium Remittance market is segmented by Flow Type into Inbound and Outbound. Both Inbound & Outbound remittances accounted for an almost equal share of the market. Although the Inbound remittance accounted for a slightly larger share as compared to outbound remittance. Request For Free Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MjQ2 Competition Scenario in Belgium Remittance Market The Belgium Remittance market is moderately concentrated with formal & informal players operating in the market at the same time. The market has been driven by increased migration, increasing government support for new competitors, improved banking knowledge and increased awareness towards digitalized remittance services in the space. The key players operating in the market are HSBC Bank, Lloyds Bank, Visa, American Express, Barclays, Deutsche Bank, and Ria Money Transfer. Banks dominate the inbound remittance market in terms of volume of transactions followed by MTOs, m-wallets and other channels including postal networks, credit unions and informal channels. MTOs dominate the outbound remittance market of the region in terms of the transaction volume as of 2022P. What is the Expected Future Outlook for the Overall Belgium Remittance Market Across the globe? The Belgium Remittance market was valued at EUR ~billion in 2022 and is anticipated to reach EUR ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future. Ask For Customization @ https://www.kenresearch.com/ask-customization.php?Frmdetails=NTk2MjQ2 The Belgium Remittance market is driven by growth in internet & mobile penetration and technological modernization in remittance industry are projected to deliver the lucrative opportunity for the remittance market in the forthcoming years. In terms of volume of transactions, the inbound remittance is expected to register a CAGR close to ~% and the outbound remittance is expected to showcase a CAGR close to ~% during the same period. As the cases of financial crime and frauds is increasing day by day and this technology in banking and financial services facilitate numerous offers to the solution by identifying the customers through their fingerprint scanning or retina scanning as these two things never be same or matched with another person. The Belgium remittance market has displayed a steady growth when it comes to transaction value driven by an increment in both inbound & outbound remittances. The total value of transaction increased displaying a CAGR of close of 4%. This was driven basically by an increase in outbound remittance, which is led by a robust growth in employment prospects in Belgium & other European countries. Moreover, an appreciation in the currency during the period 2015-2019 is also a supporting factor. While personal remittances saved the Belgium remittance market to a large extent, Covid still had an impact on the overall growth, hindering the robust growth & causing fluctuations when it came to profit generation. Moreover, Europe’s resistance to the inflow of migrants can also affect the market to a large extent. If this one factor is taken care of effectively, the market is predicted to grow at a CAGR of ~%, generating a total revenue of ~ Billion. The technology of biometrics is playing effective role as this technology is considered highly effective and efficient because of the unique process. For more insights on the market intelligence, refer to the link below: – Belgium Remittance Market Related Reports by Ken Research: – Europe International Remittance Market Outlook to 2023 Indonesia Domestic and International Remittance Market Outlook to 2023 Post Views: 2 Tags: American Express Belgium Remittance Market, Barclays Belgium Remittance Market Revenue, Belgium Domestic remittance market, Belgium Inbound Remittance Market, Belgium International Remittance Industry, Belgium M-Wallets Major Players, Belgium Money Transfer Market, Belgium Outbound Remittance Market, Belgium Prepaid Cards Market, Belgium Remittance Industry, Belgium Remittance Industry Outlook, Belgium remittance inflow to Bangladesh, Belgium remittance inflow to Egypt, Belgium remittance inflow to India, Belgium remittance inflow to Philippines, Belgium Remittance Market, Belgium Remittance Market Demand, Belgium Remittance Sector, Belgium Remittance Transaction Volume, Bills and Payments Companies in Belgium, Branch Pick-up Belgium Remittance Market, Competitors in Belgium Remittance Market, Cross-border remittances in Belgium, Deutsche Bank Belgium Remittance Market, Digital Remittance Market in Belgium, digitalized remittance services in Belgium, Emerging Players in Belgium Remittance Market, Hawalas Belgium Remittance Market, HSBC Bank Belgium Remittance Belgium Market, International Remittance Industry in Belgium, Leading Players in Belgium Remittance Market, Lloyd Bank Belgium Remittance Market Share, Major Players in Belgium Remittance Market, Mobile Payment Belgium Remittance Market, mobile-based payment channels in Belgium, Money Transfer Operators in Belgium, money-transfer industry in Belgium, numbers of startups in Fintech industry Belgium, Online Transactions Belgium Remittance Market, payment Service Providers in Belgium, Prepaid cards payment Belgium, Remittance Service Providers Belgium, Remittance Service Providers in Belgium, Remittance Services Providers Licenses Belgium, Remittance Transaction Volume in Belgium, remittance transfer Players in Belgium, Rural remittance market Belgium, Startups in Belgium Remittance Market, Top Fin Tech Startups in Belgium, Urban remittance market Belgium, Venture Capital Firms in Belgium Remittance Sector, Visa Remittance Market Belgium Revenue