Driven by a continuous rise in middle class households and the emergence of online shopping portals, the credit card market in emerging countries has grown stupendously during the past few years. During 2008-2010, Poland and China witnessed a CAGR of around 17% and 29% respectively in terms of total number of credit cards issued, says our new research report “Global Credit Card Industry - Emerging Markets”. Moreover, the industry in these markets has been able to survive successfully amid global financial turmoil, owing to low credit card penetrations.
The ongoing analysis identifies that the credit card industry in emerging markets are consistently growing on the back of low credit cards penetration and the government support. In this regard, we have done extensive analysis of the credit card market of key countries across the world. The countries that have been covered in our report include: China, India, South Korea, Russia, Poland, Brazil, and Mexico.
Our research reveals that in many countries like, Brazil, South Korea, and Mexico, purchases made through credit cards have shown a positive growth trend during the past few years. The report also identifies that the future of this market remains buoyant, despite the recent economic downturn. Rise in bank’s effort and increasing government support provide the base line for optimistic future outlook presented in our report. Changing consumer behavior will also pave the way for global credit card market during the forecast period (2011-2014).
Our report provides an extensive research and rational analysis along with reliable statistics of the credit card market in the emerging economies. The report has thoroughly examined current market trends and industrial developments to enable clients understand the market structure and its progress in coming years. Due consideration has been given to the possible after effects of recession on the industry, while preparing the forecast. It will help clients to have a proper insight of the current and future outlook of the credit card market in developing economies.