Market Insights Financial Capital Raising Digital Capital Raising

Marketplace Lending (Consumer) - Bhutan

Bhutan

The country in Bhutan is projected to reach a total transaction value of US$51.8k in the MarketMarketplace Lending (Consumer) market market by 2024.
When compared globally, the United States leads with a transaction value of US$26,720m in 2024.
Key Market Indicators offer a snapshot of the social and economic landscape of Bhutan and offer further insights into specific market trends.
These indicators, combined with data from statistical offices, trade associations, and companies, form the basis for the Statista market models.
In Bhutan, Marketplace Lending in Consumer Capital Raising is gaining traction due to increased demand for alternative financing options.

Key regions: United Kingdom, United States, China, Brazil, Australia

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Analyst Opinion

Marketplace lending (consumer) in Bhutan has been steadily growing in recent years, driven by changing customer preferences and the unique local circumstances. Customer preferences in Bhutan have shifted towards online lending platforms due to their convenience and accessibility.

With the increasing penetration of smartphones and internet connectivity, consumers are looking for quick and easy ways to access credit. Marketplace lending platforms provide a seamless experience, allowing borrowers to apply for loans online and receive funds within a short period of time. This appeals to the tech-savvy population in Bhutan, who are increasingly comfortable with digital transactions.

Trends in the marketplace lending market in Bhutan are also influenced by global and regional developments. The rise of alternative lending models, such as peer-to-peer lending, has gained traction worldwide. Bhutan, being a small and interconnected country, has not been immune to these trends.

Peer-to-peer lending platforms have emerged as a viable alternative to traditional banks, offering competitive interest rates and flexible loan terms. This has attracted borrowers who may have been overlooked by traditional financial institutions. Local special circumstances in Bhutan also play a role in the development of the marketplace lending market.

Bhutan is a predominantly rural country with limited access to formal banking services in remote areas. Marketplace lending platforms have the potential to bridge this gap by reaching out to underserved communities. These platforms can leverage technology to assess creditworthiness and provide loans to individuals who may not have a credit history or collateral.

This inclusivity is an important factor in the growth of marketplace lending in Bhutan. Underlying macroeconomic factors further contribute to the development of the marketplace lending market in Bhutan. The country has experienced rapid economic growth in recent years, leading to an increase in disposable income and consumer spending.

This has created a demand for credit, which marketplace lending platforms are able to fulfill. Additionally, the government of Bhutan has been supportive of financial technology innovation, recognizing the potential of marketplace lending to drive economic growth and financial inclusion. This favorable regulatory environment has encouraged the entry of new players in the market and fostered competition.

In conclusion, the marketplace lending (consumer) market in Bhutan is developing due to changing customer preferences, global trends in alternative lending, local special circumstances, and favorable macroeconomic factors. As technology continues to advance and the demand for credit grows, marketplace lending platforms are well-positioned to meet the evolving needs of consumers in Bhutan.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.