Category: Service Industries
Service Industries market research reports by Euromonitor International
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Consumer Lending in Singapore
Consumer Lending in Singapore Consumer lending in Singapore is exhibiting positive growth in 2023, displaying a robust recovery from the pandemic's impact since 2022. Notably, card lending has emerged as a significant driver of growth in overall consumer lending, coinciding with the country's ongoin ... Read More
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Consumer Lending in Vietnam
Consumer Lending in Vietnam In 2023, the State Bank of Vietnam implemented measures to promote consumer lending for daily needs. To encourage banks to increase their lending activities, including consumer lending, the State Bank issued Circular No. 06/2023/TT-NHNN on 28 June 2023, amending and suppl ... Read More
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Financial Cards and Payments in Peru
Financial Cards and Payments in Peru Financial cards and payments have indeed witnessed substantial growth in 2023. However, this growth has seen a notable slowdown due to consumers adopting a more cautious approach to spending. Factors contributing to this caution include the sluggish economic grow ... Read More
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Credit Cards in Hong Kong, China
Credit Cards in Hong Kong, China Since the reopening of borders in the fourth quarter of 2022, there has been a surge in enthusiasm among Hong Kong locals to travel abroad after enduring three years of the pandemic. Residents are now showing a strong and sustained interest in reallocating their spen ... Read More
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Store Cards in Colombia
Store Cards in Colombia Store cards are expected to continue their downward trajectory in 2023 in both transaction value and the number of cards in circulation. With consumers having more alternatives to choose from pre-paid, including credit or debit cards offering benefits like cashback, many cons ... Read More
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Credit Cards in Romania
Credit Cards in Romania The growth in credit card transactions is slowing down as a result of persisting inflation and escalating consumer prices, prompting a return to higher levels of budget-consciousness and financial uncertainty. Economic instability has led to reduced non-essential spending, wi ... Read More
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Consumer Lending in Sweden
Consumer Lending in Sweden Gross lending in Sweden registered positive, yet slower growth in 2022, as the uncertain economic environment, exacerbated by the Russian invasion of Ukraine, led to a decline in consumer confidence. In August 2022, the annual inflation rate soared to almost 10%, the highe ... Read More
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Financial Cards and Payments in Romania
Financial Cards and Payments in Romania Romania lags behind in financial inclusion compared to other nations, showcasing a lower uptake of basic financial services, primarily due to a trifecta of factors: low financial literacy levels, a significant grey economy, and a widespread preference for cash ... Read More
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Financial Cards and Payments in Hong Kong, China
Financial Cards and Payments in Hong Kong, China Total card transactions in Hong Kong, along with electronic direct/ACH transactions and mobile payments, are recording double-digit growth rates in 2023 as consumption recovers from the pandemic. This is mainly being driven by overseas consumption due ... Read More
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Financial Cards and Payments in Turkey
Financial Cards and Payments in Turkey A significant shift is underway in the realm of Dutch public transport, as the familiar OV chipkaart is being gradually phased out and replaced with a more versatile system known as OVpay. Since the start of 2023, travellers on public transport have the option ... Read More
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Consumer Credit in Singapore
Consumer Credit in Singapore Following the pandemic, card lending, contributing to over 60% of consumer credit gross lending in Singapore, has witnessed significant growth, largely propelled by the enduring trend of revenge travel. The resumption of travel and tourism activities in numerous countrie ... Read More
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Pre-Paid Cards in Greece
Pre-Paid Cards in Greece In 2023, open-loop pre-paid cards have seen a mild increase in the number of cards, transaction volume, and transaction value. This uptick is part of the general momentum in card transactions driven by the proliferation of digital wallets, contactless transactions, and e-com ... Read More
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Consumer Credit in Israel
Consumer Credit in Israel In 2023, the growth of consumer lending in Israel experienced a notable slowdown, continuing a trend observed over recent years. The outstanding balance in card lending saw a decline, significantly influenced by rising inflation and the increasing cost of living. With consu ... Read More
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Debit Cards in Greece
Debit Cards in Greece Debit cards continue to dominate the Greek financial cards and payments landscape, showing further growth in 2023. They are growing in terms of the number of cards, volume and value of transactions, and increasingly accounting for smaller, everyday transactions as consumers opt ... Read More
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Pre-Paid Cards in Hong Kong, China
Pre-Paid Cards in Hong Kong, China Octopus has established itself as the most widely used and popular open loop pre-paid card in Hong Kong, offering a myriad of convenient features and services. Recognising the growing interest among local residents to explore the mainland during weekends or holiday ... Read More
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Pre-Paid Cards in Israel
Pre-Paid Cards in Israel In 2023, closed loop pre-paid cards witnessed a decline in transaction value and volume, consistent with a continuing trend as consumers increasingly shift towards payment apps. Despite some consumers still having significant value loaded onto their Rav Kav pre-paid cards, t ... Read More
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Consumer Credit in Hungary
Consumer Credit in Hungary As inflation continues to rise, an increasing number of households find themselves in a financially precarious situation at the end of the month or salary payment periods. The impact of inflation bites into monthly budgets, leading to higher expenses for essential goods an ... Read More
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Store Cards in Peru
Store Cards in Peru The utilisation of store cards is on a notable decline, largely due to a transition where most stores have opted to partner with major operators in the market, like Visa or Mastercard. As a result, prominent department stores have ceased issuing standalone store cards and instead ... Read More
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Credit Cards in Morocco
Credit Cards in Morocco Morocco is a country heavily reliant on cash, with consumers historically favouring debit cards to any other types of financial cards; standard credit cards continue to suffer from a negative perception among locals for several reasons. The demand for credit cards remains rel ... Read More
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Pre-Paid Cards in Peru
Pre-Paid Cards in Peru The use of pre-paid cards has shown consistent growth over the last two years, particularly experiencing a notable surge in 2022 as pandemic-related restrictions were lifted and activities returned to a semblance of normalcy. However, in 2023, this growth has moderated, mainly ... Read More
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Debit Cards in Israel
Debit Cards in Israel In 2023, Israel experienced a notable surge in debit card usage as more individuals opted to pay with credit cards instead of cash. The number of debit cards in circulation increased remarkably. Furthermore, the volume of transactions using debit cards witnessed an increase in ... Read More
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Store Cards in Denmark
Store Cards in Denmark Store cards continue to lose popularity in Denmark, with the number of cards in circulation expected to fall slightly, with total transaction value falling significant. This is in spite of rising inflation. Store cards have not kept up with technology innovations and this is l ... Read More
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Debit Cards in Hungary
Debit Cards in Hungary With the merger of Takarékbank and MKB Bank, a new financial service provider was formed, MBH Bank. MBH Bank leads in the personal and commercial segments, including current accounts and debit cards, and is especially dominant in smaller towns and villages where Takarékbank wa ... Read More
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Consumer Lending in Morocco
Consumer Lending in Morocco While Morocco saw dynamic demand for consumer lending immediately post-pandemic as retailers and foodservice outlets reopened their doors to consumers, from September 2022 the market has been impacted by soaring prices impacting purchasing power across households. This tr ... Read More
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Consumer Lending in Peru
Consumer Lending in Peru Consumer lending has sustained notable growth in 2023, albeit at a more tempered pace compared to the robust expansions witnessed in the preceding years. This growth encompasses both the outstanding balance and gross lending, surpassing pre-pandemic levels experienced in 202 ... Read More
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