Philippines Remittance Market Size Is Anticipated To Reach USD 1.84 Billion By 2030
San Francisco, 10 Oct 2023: The Report Philippines Remittance Market Size, Share & Trends Analysis Report By Mode Of Transfer (Digital, Traditional (Non-digital)), By Type, By Channel (Banks, Online Platforms (Wallets)), By End Use, And Segment Forecasts, 2022 - 2030 The Philippines remittance market size is expected to reach USD 1.84 billion by 2030, growing at a CAGR of 13.3% from 2022 to 2030, according to a new report by Grand View Research, Inc. The growth can be attributed to the initiatives taken by the Philippines government, such as financial literacy programs and the adoption of the ‘International Day of Family Remittances’. Furthermore, the increasing adoption of banking services across the country is another major factor expected to create new growth opportunities for the Philippines remittance industry. According to the World Bank Group, it is expected that remittances to Low- and Middle-Income Countries (LMICs) will increase by 4.2% in 2022, reaching USD 630 bill