Research and Markets (http://www.researchandmarkets.com/research/26bg9l/emerging) has announced the addition of the "Emerging Opportunities in Romania's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape" report to their offering.
Romania has a developing upper-mid-sized economy which is the eleventh-largest in the European Union (EU) by total nominal GDP, and the eighth-largest based on purchasing power parity. During the review period (2008-2012), the Romanian cards and payments industry registered marginal growth, with a combined card volume CAGR of 1.45%.
Romania was heavily affected by the global financial downturn and its GDP contracted by -2.6% in 2009, forcing the government to enact harsh austerity measures and borrow heavily from the IMF to reduce its budget deficit to 4.4% of GDP in 2011, and to 3% of GDP in 2012. While the budget deficit stood at 6.6% in 2010, below the IMF agreed target of 6.8%, the growth of e-commerce, increasing levels of per capita income, growth in the automotive industry and improved travel and tourism dynamics have facilitated the overall growth of the cards and payments industry. Forecasts predict recovery at a CAGR at 3.38% by the end of 2017.
Eastern Europe's emerging consumer economies are prime targets for credit card growth, including domestic and foreign issuers, and Romania is no exception. Romania's economy has expanded at a steady rate following its accession to the EU in January 2007, due to the rapid rises in average monthly wages and consumer expenditure. Although Romania's cards and payments industry has only being in existence for around 10 years, with a corresponding lack of consumer awareness, many issuers are targeting the Romanian industry with a range of increasingly sophisticated card products, such as revolving credit.
The report provides top-level market analysis, information and insights on Romania's cards and payments market, including:
- Current and forecast values for each segment of Romania's cards and payments industry including debit cards, credit cards, prepaid cards and charge cards.
- Comprehensive analysis of the industry's market attractiveness and future growth areas.
- Analysis of various market drivers and regulations governing Romania's cards and payments market.
- Detailed analysis of the marketing strategies adopted for selling prepaid cards used by various bankers and other institutions in the market
- Comprehensive analysis of consumer attitudes and their buying preferences for cards.
- Competitive landscape of Romania's cards and payments market.
Unicredit Tiriac Bank
BRD - Groupe Société Générale
Romanian Commercial Bank (BCR)
For more information visit http://www.researchandmarkets.com/research/26bg9l/emerging
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