China Driving the Global Credit Card Industry

According to our research report “Global Credit Card Industry - Emerging Markets”, the number of credit cards in China has witnessed tremendous growth during the past few years. Moreover, with the rapidly surging middle class population, growing consumer spending, and untapped rural area, the market is anticipated to witness stupendous growth in near future. It has been found that the number of credit cards will reach around 593 Million by 2014, reflecting a CAGR of around 25% during FY 2011 - FY 2014.

 

An extensive research and prudent analysis has been done on the Chinese credit card market and it has been found that the country is encouraging non-cash payment options such as, credit cards, which feature overdrafts, to boost domestic consumption. The report identified that various factors such as, emerging on line shopping and changing consumer pattern have resulted into the higher usage of credit cards in the country.

 

Additionally, it is expected that this growth could help the credit card to become the second most lucrative retail banking product after mortgages within the next few years. There are several other benefits like, reward points and discounts by merchants as well as bankers, which will lure customers to shop using their credit cards. Moreover, increasing trends of online shopping have provided the much required growth impetus to the industry. This huge demand for credit cards is providing tremendous growth opportunities for credit card issuers, suppliers, and manufacturers in the country.

 

"Global Credit Card Industry - Emerging Markets" provides an extensive research and rational analysis along with reliable statistics of the credit card market in emerging economies like, Brazil, Mexico, South Korea, Russia, Poland, and India. The report has thoroughly examined current market trends and industrial developments to enable clients understand the market structure and its progress in coming years. While preparing forecasts, due consideration has been given to the possible after effects of recession on the industry. It will help clients to have a proper insight of the current and future outlook of the credit card market in developing economies.

For more information visit: http://www.rncos.com/Report/IM167.htm