Delhi, India (PressExposure) May 18, 2009 -- RNCOS new research report, âGlobal Credit Card Industry - Emerging Marketsâ, states that with changing consumer spending patterns, the credit card market in emerging economies has expanded rapidly in recent years. For instance, between 2004 and 2007, the number of credit cards in Brazil and Mexico more than doubled, while the number of cards in circulation in Poland tripled. Outstanding credit card debt in India tripled over the same period. In China, growth in the number of credit cards averaged just over 23% from 2004 to 2007, and then surged to nearly 93% in the first half of 2008.
We strongly believe that this growth trend will continue in near future as well, with a small deceleration in effect of global financial turmoil and credit squeeze. Bankers will also be a little more conscious while doing risk evaluation of credit card applicants. But the overall trend will remain positive.
The baseline for this optimistic future outlook is that governments in most of the emerging countries are encouraging credit cards usage to cut the operating cost and to avoid tax delinquencies. Consumers also prefer use of credit cards as they are safer to carry and provide credit facility as well. Beside this, there are many other benefits like reward points and discounts by merchants as well as bankers which lure customers to shop by credit cards.
This report provides extensive research and in-depth analysis on the emerging credit card markets. It will help clients to analyze the leading-edge opportunities critical to the success of emerging credit card markets. Detailed data and analysis will help the players to navigate through the evolving credit card markets in the world.
Our research provides forecast on
- Number of credit cards in China, 2008 & 2012 - Credit cards purchases in India, 2008-09 to 2011-12 - Credit cards spending in South Korea, 2008-2012 - Number of credit cards in Russia, 2008-2012 - Number of credit cards in Poland, 2008-2012 - Consumer spending via credit cards in Brazil, 2008-2012 - Number of credit cards in Mexico, 2008-2012
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