Recently, we partnered with The IMTC, The International Money Transfer Conferences, to analyze and visualize World Bank data on global remittances. The Spark Group developed two infographics: 1) Volume & Growth of Global Remittance Inflows, and 2) Volume & Growth of Latin American Remittance Inflows.
The infographics were distributed along with a press release (see below) and were featured on PYMNTS.com, one of the largest sources for payments related news. Hear the director of IMTC, Hugo Cuevas-Mohr, discuss the global inforgraphic in detail in an interview by journalist Pete Rizzo from PYMNTS here: “Managing The $600B Money Transfer Gorilla.”
Both the infographics & PYMNTS.com article were highly shared on social sites (primarily twitter)- expanding knowledge of the global remittance market and promoting the IMTC all at the same time.
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PRESS RELEASE // 16 OCTOBER 2013
The IMTC, International Money Transfer Conferences, has partnered with The Spark Group to analyze World Bank data and visualize the large increases in remittance volumes around the world.
China and India have continued to dominate world remittances, and continue to grow. More interestingly is how remittances to developing countries have recently expanded within just one year (2011 to 2012). For many Latin American countries, migration into the U.S. and Europe has been difficult lately, causing a fluctuation in remittance volumes. There are also new “South to South” corridors opening up as migrants move to other countries such as Brasil, Chile, Malaysia and others.
Remittances to the Philippines have increased as the government promotes organized migration, training programs for migrants and negotiates with other countries that have ultimately led them to be the #3 remittance payer in the world.
Recent instability within the Middle East has caused countries such as Egypt and Lebanon (See Infographic), to reach new heights. As more people begin to migrate, families continue to send money back home.
The remittance rate for developing countries is estimated to grow by 9% within the next year and reach $540 billion by 2016.
The International Money Transfer Conferences (IMTC) brings payment professionals together to share their knowledge, discuss industry trends and regulations, learn about future developments, and network with their colleagues. In 2011 and 2012 the IMTC conferences hosted participants from 428 companies and 43 countries. This year the IMTC Conference, IMTC Miami 2013, will be hosted at the Eden Roc in Miami Beach, Florida on Nov 4-7 2013.