Market Insights Financial Capital Raising Digital Capital Raising

Marketplace Lending (Consumer) - Guyana

Guyana

Total transaction value in the Consumer Marketplace Lending market in Guyana is expected to achieve US$0.0 by 2024.
When considering a global standpoint, the United States leads with a transaction value of US$26,720m in 2024.
Key Market Indicators offer a glimpse into the social and economic landscape of Guyana, shedding light on pertinent market trends.
These indicators, alongside information sourced from statistical bureaus, trade groups, and businesses, form the basis for Statista's market projections.
Guyana's Marketplace Lending sector in Capital Raising sees a rise in peer-to-peer platforms, providing alternative financing options for consumers.

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

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Analyst Opinion

Marketplace lending (consumer) in Guyana has been experiencing significant growth in recent years. This can be attributed to a number of factors, including changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences in Guyana have shifted towards online lending platforms due to their convenience and accessibility. Consumers are increasingly turning to marketplace lending as a viable alternative to traditional financial institutions. This is driven by a desire for faster loan approval processes, lower interest rates, and more flexible repayment terms.

Additionally, the younger generation in Guyana, who are more tech-savvy and comfortable with online transactions, are leading the adoption of marketplace lending. Trends in the marketplace lending market in Guyana reflect global and regional developments. One trend is the rise of peer-to-peer lending platforms, which connect borrowers directly with lenders.

These platforms leverage technology to streamline the lending process and reduce overhead costs, resulting in lower interest rates for borrowers. Another trend is the increasing popularity of microloans, which cater to individuals and small businesses with limited access to traditional financial services. Microloans provide a lifeline for entrepreneurs looking to start or expand their businesses, stimulating economic growth in the country.

Local special circumstances in Guyana also contribute to the development of the marketplace lending market. The country has a relatively underdeveloped banking sector, with limited access to credit for many individuals and businesses. This creates a gap in the market that marketplace lenders are able to fill.

Additionally, the high cost of borrowing from traditional financial institutions in Guyana has made marketplace lending an attractive alternative for borrowers. Underlying macroeconomic factors have also played a role in the growth of the marketplace lending market in Guyana. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending.

This has created a demand for credit, which marketplace lenders are able to meet. Furthermore, the government of Guyana has implemented policies to promote financial inclusion and support the growth of the fintech sector, which has created a favorable regulatory environment for marketplace lenders. In conclusion, marketplace lending (consumer) in Guyana is developing rapidly due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

As the marketplace lending sector continues to evolve, it is expected to play an increasingly important role in the financial landscape of Guyana, providing access to credit for individuals and businesses who were previously underserved by traditional financial institutions.

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.