
Taiwan’s severe labor shortage is bringing many migrant workers to come to the nation. Migrant workers on average remit half of their salaries back to their home countries each month, resulting in massive cross-border flows estimated to exceed NT$100 billion this year. Wu Yu-hsun, a former telecommunications executive, sniffed a business opportunity. He now provides migrant workers remittance services and has already captured more than 40% of the market. Let’s find out more.
Wu Yu-hsun
Cross-border financial services provider
Migrant workers typically send an average of NT$7,000 or NT$8,000 back home each month, or even up to NT$10,000.
Unlike Taiwanese people’s remittance habits, migrant workers usually make frequent remittances in small sums. According to statistics, migrant workers send an average of 50% of their salaries back home every month.
Wu Yu-hsun
Cross-border financial services provider
Thais mainly concentrate remittances during the Songkran Festival. Filipinos and Vietnamese people each have their own festivals, so it’s spread throughout the year in every season. I think the migrant worker remittance business is quite stable.
Currently, there are over 860,000 migrant workers in Taiwan, and cross-border capital flows are estimated to exceed NT$100 billion this year. Wu Yu-hsun, whose career began in the telecommunications industry, sniffed out a business opportunity and launched his own business ten years ago.
Wu Yu-hsun
Cross-border financial services operator
When I went on stage to sing Christmas carols for the migrant workers present and shared the joy with them, I discovered that they are actually quite simple and honest. They just hope that, in addition to working in Taiwan, there are some activities that can satisfy their homesickness or a channel for them to safely send the money they have worked so hard to earn back home.
In order to penetrate the market, Wu tried to look at things from the migrants’ perspective. Currently, his market share exceeds 40%. Given the severe labor shortage in Taiwan, this small-sum remittance services market for migrant workers still has more room for growth in the future.
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#Taiwanworkers #foreign currency #migrantworkers #remittances
國內合法移工人數突破86萬人,根據統計,移工每個月會把五成薪資匯回家鄉,跨境金流規模龐大,預估今年突破一千億。過去從事電信業的吳侑勳,看準移工匯兌商機、創業,在移工小額匯兌市佔超過四成,去年還成功上櫃。
[[跨境金融業者 吳侑勳]]
“移工通常每個月會把工作所得,匯回家裡平均數字大概七、八千元,甚至到一萬塊錢”
不同於國人匯款習慣,移工朋友平常習慣小額、高頻率匯款,根據統計,移工平均每個月會把5成薪水匯回家鄉。
[[跨境金融業者 吳侑勳]]
“泰國他們主要會集中在,潑水節,菲律賓人跟越南人各自有各自節日,所以分散在一年四季當中,我覺得移工的交易都蠻穩定的”
目前在台灣移工人數超過86萬,今年跨境金流預估突破一千億,電信業出身的吳侑勳早在10年前就瞄準商機、白手創業。
[[跨境金融業者 吳侑勳]]
“我上台唱聖誕快樂歌,給在場的移工聽,跟他們同樂,過程當中就會發現,其實他們相對是很純樸的,他們只是希望在台灣工作之餘,有一些可以讓他們滿足思鄉的活動,或是讓他們把手中辛苦掙來的錢,安全匯回家鄉的管道”
為了打入市場,吳侑勳努力換位思考,目前市佔已經超過四成,國內缺工問題嚴峻,移工小額匯兌市場,未來還有更多成長空間。
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