Category: Service Industries
Asia Service Industries
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Macro - Country Economic Forecasts - Malaysia
... are emerging in private consumption and the services sector. We've kept our 2023 GDP forecast at 4.3% and expect growth to slump to 3.5% in 2024 as domestic demand loses momentum and fiscal policy drags. Read More
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Macro - Country Economic Forecasts - South Korea
... 2023 GDP growth forecast for South Korea by 0.4ppts to 1.2%, to reflect a stronger-than-expected Q3 outturn and improving exports. Despite the revision, this pace of growth would be the slowest since 2009 (excluding 2020). Read More
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Analysis by Region - Emerging Markets - Indonesia
... growth forecasts for Indonesia at 5.1% in 2023 and 4.4% in 2024. The Q3 GDP outcome was broadly in line with our expectation, with domestic demand proving relatively resilient while the external sector remained soft. Read More
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Asia-Pacific Military Robotic and Autonomous System (RAS) Market - Analysis and Forecast, 2023-2033
... million and is expected to reach $4,152.8 million by the end of 2033, growing at a CAGR of 2.54% during the forecast period 2023-2033. Artificial intelligence (AI) has been a major factor in the expansion ... Read More
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Payments in Asia/Pacific 2023: Real-Time, Cross-Border, and Localization Trends Dominate
... financial services, several key themes, such as real-time payments, buy-now-pay-later payment schemes, cross-border payments, local payment networks, and payments as a service, are driving the development of a unique payment composition in the region that ... Read More
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Debit Cards in Thailand
... industry has launched cardless withdrawals to bring greater convenience to customers. Payment service providers also offer free cash transactions across all channels to support students or low-income earners who frequently withdraw a small amount of ... Read More
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Pre-Paid Cards in Malaysia
... decline, a trend accelerated by the Coronavirus (COVID-19) pandemic, many local consumers, including those among the unbanked population, who do not own a financial card of any type, are more likely to convert to pre-paid ... Read More
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Financial Cards and Payments in the Philippines
... to stabilise, the Philippines continues to experience robust growth in both volume and value terms within digital payments. This growth is observed across various areas of financial cards and payments. Notably, travel, dining, entertainment and ... Read More
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Pre-Paid Cards in Thailand
... public transportation systems BTS and MRT. During the COVID-19 pandemic, commuting dropped dramatically leading to a significant contraction in transaction spend. After a strong recovery in 2022, pre-paid card transactions continue to enjoy double-digit growth ... Read More
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Charge Cards in Malaysia
... limited supply of charge cards from banking institutions in Malaysia. Indeed, many banks have dropped their offer of charge cards, especially commercial charge cards, due to limited demand in the market. Over 2023, the numbers ... Read More
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Debit Cards in the Philippines
... for making cash withdrawals. This was because most people were either unaware that they could use their debit card to make cashless transactions or were reluctant to use them because of security concerns. However, the ... Read More
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Credit Cards in the Philippines
... 2020, reflects local consumers’ resurgence in terms of shopping, travelling and purchasing goods after around two years of COVID-19 lockdown and other restrictions. The notable increase in credit card billings serves as an indicator of ... Read More
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Financial Cards and Payments in Thailand
... momentum aided by the government program “Shop Dee Mee Kuen” (Shopping and Payback), which stimulated demand in the first quarter of the year. Card transactions have shown an improvement in both value and volume of ... Read More
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Financial Cards and Payments in Malaysia
... towards a cashless society in Malaysia, pushed by the government and private actors, such as retailers, and accelerated by the experience of the pandemic, continue to dictate many of the developments in the industry. This ... Read More
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Debit Cards in Malaysia
... value transactions. The increased numbers of POS terminals is widening the acceptance of debit cards nationwide. That this is occurring without incurring minimum spend requirements further boosts the use of personal debit cards. The development ... Read More
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Charge Cards in Thailand
... post-pandemic era, consumers have returned to routine spending, with robust value growth in 2023 in terms of charge card transactions. The strong rebound in the tourism and hospitality industry is having a notable impact, with ... Read More
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Credit Cards in Thailand
... on various products and services, including shopping, restaurants, tourism, travel, and petrol have all increased, resulting in double-digit growth in credit card transactions. Additionally, the Thai government’s personal income tax deduction programme “Shop Dee Mee ... Read More
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Credit Cards in Malaysia
... commercial credit cards in circulation is rebounding, following declines caused by the effects of the pandemic on the business and travel operations of companies. The reopening of society and related growth in both personal and ... Read More
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Pre-Paid Cards in the Philippines
... convenience, especially for lower-income Filipinos. These developments were primarily driven by the state-run Land Bank of the Philippines - LBP as it continued to collaborate with different government agencies. The bank is strengthening its partnership ... Read More
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Store Cards in Thailand
... This programme covers a variety of goods and services such as fuel, food and beverages, products sold in convenience stores, IT equipment, computers, smartphones, and books (excluding alcohol, cigarettes, and vehicles). The scheme is designed ... Read More
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Analysis by Region - Emerging Markets - Myanmar
... the shocks in 2020 and 2021, and the economy still faces several fundamental challenges. Still, inflation's descent should slowly bolster real household incomes and consumer spending. Meanwhile, remittances have been strong and tourism is likely ... Read More
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Pre-Paid Cards in Indonesia
... Pre-paid cards has been particularly impacted by the revival of normal social and economic activity and the increase in people’s mobility. The pre-paid cards category is very highly dependent on the mobility of the population ... Read More
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Charge Cards in Taiwan
... to its success lies in the exclusive benefits and privileges offered to cardholders, compensating for the higher annual fee associated with AMEX cards. Many cardholders find the benefits and exclusivity provided by AMEX cards outweigh ... Read More
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Debit Cards in Hong Kong, China
... years of the pandemic. Residents are now showing a strong and sustained interest in reallocating their spending from daily expenses in Hong Kong towards their outbound travel budgets. Hong Kong's outbound expenditure is set to ... Read More
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Charge Cards in Hong Kong, China
... and Diners Club are determined to customise their latest offers to better cater for this shrinking client base. Following the reopening of borders, there has been a surge in revenge travel, leading to a significant ... Read More
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