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Future Outlook Remittance Qatar | Inbound Remittance Industry in Qatar

Qatar is home 2.8 Million population with more than 88% of population being expatriates from India, Nepal, Philippines, Bangladesh, Sri Lanka, Egypt and other countries. A poll of opinion conducted by Ken Research indicated that ~55-60% of total expat population earns less than QAR 5,000 per month, while only ~5-8% earned more than QAR 15,000 per month. These migrant workers send money back to their home, generally during the first and last week of the month. <br><br>Qatar Market share of Exchange Houses | Qatar Central Bank AML Guidelines | Direct Account Transfer Remittance Qatar

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Future Outlook Remittance Qatar | Inbound Remittance Industry in Qatar

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  1. Future Outlook Remittance Qatar | Inbound Remittance Industry in Qatar | Qatar Market share of Exchange Houses | Qatar Central Bank AML Guidelines | Direct Account Transfer Remittance Qatar: Ken Research Decoding the landscape of International remittance Industry in Qatar Qatar is home 2.8 Million population with more than 88% of population being expatriates from India, Nepal, Philippines, Bangladesh, Sri Lanka, Egypt and other countries. With an unemployment rate of less than 1%, expat population is employed majorly in construction, manufacturing, wholesale and retail trade and other industries. A poll opinion conducted by Ken Research indicated that ~55-60% of total expat population earns less than QAR 5,000 per month while only ~5-8% earned more than QAR 15,000 per month. These migrant workers send money back to their home, generally during the first and last week of month. Moreover, migrant workers prefer to send money in a single transaction to avoid paying transaction charges multiple times. During 2019, the worldwide average remittance cost of sending USD 200 was around 7% while in Qatar it averaged around 4.5% to send USD 200 to India. The remittance fees has been decreasing steadily in Qatar since Q3 2017 yet is still higher than the sustainable development goal of 3% by 2030. Table: Average cost of sending USD 200 from Qatar to major corridors during 2016-20 6.00 5.59 0.00 19 31 94 BS 4.76 4._i7 33 -4^7 4.24 30 2216 2017 20 IS 2019 2020 India Philippines Nepal Source: World Bank Remittance Databases 2019 International remittance Market Size in Qatar How is the competitive landscape in International Remittance Industry of Qatar? Owing to high quantum of expat population working as blue collar workers in construction, mining and manufacturing sectors, exchange houses are preferred entity for remitting money. Al Dar for Exchange works, established in 2006, operates the highest number of 21 branches across Qatar. Further, top 5 exchange houses

  2. contribute ~50% to total industry size with players majorly competing on the basis of exchange rates, branch proximity, marketing campaigns, corridor specific quality services (same day credit, cash pickup) etc. International Remittance Industry in Qatar Outlook to 2025 - Competitive Benchmarking of Major players basis Operational and Financial Parameters What is the future takeaway for industry players?

  3. Given the backdrop of decrease in volume and value of outbound international remittance transactions, analysts at Ken Research expect a growth of ~9% during 202021 and CAGR of 3.5% in international remittance transaction value during 2020-25F. During this period, value of transactions is expected to peak in 2022 owing to expected arrival of more than 1.5 Million foreign travelers for FIFA World Cup 2022 event with strong focus on digitalization of services by leading players. The need of the hour is to re-assess the business strategy and strengthen technological capabilities aimed at offering hassle free, do-it-yourself experience to customers. Request For Sample Report - https://www.kenresearch.com/sample-report.php?Frmdetails=NDg0NzMy Key Topics Covered in the Report Overview of International Remittance Industry in Qatar (Statistics on Corridor wise Transaction volume and value) Industry segmentation (By Type of Transfers, Type of Intermediary Operators, Corridor wise, Type of Source Entities) Cross Comparison of Major Exchange houses on Operational and Financial Parameters (December 2020, June 2021) Company Profile of Major Exchange Houses (Overview, Products and Services, USP, Business Strategies, Branch wise Operational Performance, Cumulative Financial Performance, Recent Developments) Growth Drivers and Challenges to Qatar International Remittance Industry Industry trends and developments Rules and Regulations by Government Bodies Impact of COVID-19 and Future Outlook of Industry For More Information, refer to below link:- Qatar Central Bank AML Guidelines|Future Outlook Remittance Qatar Related Reports

  4. Russia Remittance and Bill Payments Market Outlook to 2023 (Second Edition)- ByDomestic Remittance Banking & Non -Banking Channels; InternationalRemittance Flow Corridors and Channel; and Bill Payment Segment Indonesia Domestic and International Remittance Market Outlook to 2023 - ByInbound & Outbound Remittance, By Banking and Non-Banking Channel, ByIncome Level Group and By Inflow and Outflow Remittance Corridor Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications support@kenresearch.com +91-9015378249

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