Emerging Opportunities in Belgiumâs Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-17 00:34:01
Belgium´s economy is highly developed and one of the most globalized in the world. This and its strong transport infrastructure mean that Belgium is well integrated with the rest of the Europe. However, the global financial crisis caused a sharp economic slowdown which meant that the government had to implement a fiscal stimulus package to support the economy and financial system.
Economic recovery has, however, been uneven due to structural weaknesses such as a rigid labor market and high taxation, hindering international competitiveness. Belgium´s card industry as a whole grew at a CAGR of 3.87% during the review period and is expected to post a CAGR of 3.31% over the forecast period. Growth was mainly driven by the prepaid card category, which recorded a CAGR of 4.87%, followed by debit cards with a CAGR of 2.53%, and charge and credit cards which grew at respective CAGRs of 1.70% and 1.84%.
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