We handle a wide variety of international payment types each day - from SME invoicing to personal remittances. We also like to take the occasional deep dive into a region to see what's changing at the macro-level.
Below we've highlighted the compound annual growth rate over the last three years for remittance inflows to the eurozone in our top corridors, along with the growth in remittance inflows worldwide.
While Canada, the United States, and Australia have all increased their remittances to euro countries in absolute terms, growth has been below the worldwide average. Remittances from the United Kingdom into the eurozone meanwhile have actually fallen year-over-year since 2013.
Will the trend continue?
At the remittance level, the cost of sending the equivalent of USD 200 has been steadily declining since 2011 (albeit with a slight uptick early this year).
Now we're wondering - will prices continue to fall in the new year, or will 2017 see a new pattern emerge? There are a variety of factors that could influence rates - including geopolitical instability, continued technology adoption, and migration patterns - and we'll be monitoring each of them over the coming months and year.
Launch of our CEO interview series: Jon Beddell of TorFX
We've launched our new magazine, featuring interviews with CEOs of leading FX firms.
This week we've interviewed Jon Beddell of TorFX on his current role, the technology he's most excited about over the next five years, and the areas in which Tor sees the greatest potential for growth.
Next in line is an interview with the CEO of OFX, Richard Kimber. We'll be talking to him about OFX's global re-brand, and new push into the U.S. market.
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