Industry Statistics and Trends
Market size and recent performance (2015-2030)
Industry revenue has grown at a CAGR of 23.5 % over the past five years, to reach an estimated $1.2bn in 2025.
Trends and Insights
Border closures and changing travel demand have reshaped foreign currency exchange services
- The COVID-19 pandemic’s border closures dealt a severe blow to foreign currency exchange providers, as international arrivals and outbound travel plummeted to unprecedented lows. This eliminated much of the industry’s demand base. Major providers like Flight Centre’s Travel Money Oz suspended entire store networks and many small foreign exchange providers exited the industry in response to unsustainable fixed costs.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2025-2030)
Market size is projected to grow over the next five years.
Trends and Insights
Regulatory scrutiny and anti-money laundering reforms are elevating compliance for foreign currency exchange firms
- Over the next few years, heightened regulatory scrutiny, particularly in relation to anti-money laundering (AML) and counter-terrorism financing (CTF), will continue to transform the industry. Under AUSTRAC’s updated AML/CTF Rules 2025, existing firms face new obligations from March 2026, with new providers required to comply from July 2026. These changes raise standards for customer due diligence, transaction reporting and ongoing monitoring.
Biggest companies in the Foreign Currency Exchange Services in Australia
| Company | Market Share (%)
2026 | Revenue ($m)
2026 |
|---|---|---|
Travelex | 85.9 | |
Flight Centre Travel | 55.9 |
To view the market share and analysis for all 2 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including US dollars, Euros and Chinese renminbi. US dollars is the largest segment of the Foreign Currency Exchange Services in Australia.
Trends and Insights
The use of the US dollar as a medium of exchange maintains its revenue share
- US dollars are the most popular currency traded by forex providers. The US dollar's dominant role as a medium of exchange globally makes it a highly sought-after currency.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
Industry firms offer retail foreign currency exchange services to the public. The industry excludes wholesale foreign currency dealing services provided to institutions and investors.
What's included in this industry?
Products and services covered in the Foreign Currency Exchange Services industry in Australia include US dollars, Euros, Chinese renminbi, British pounds, New Zealand dollars and Indian rupees.Companies
Companies covered in the Foreign Currency Exchange Services industry in Australia include Travelex and Flight Centre Travel.Purchase this report to view all 2 major companies in this industry.
Related Terms
Related terms covered in the Foreign Currency Exchange Services industry in Australia include spot rate, bid-ask spread, hedging and forex .Industry Code
ANZSIC 6221 - Foreign Currency Exchange Services in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Border closures and shifts in travel demand changed the industry’s landscape. Many currency exchange firms faced closures and consolidation during the pandemic, but the stron...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2015-2024) and forecast (2025-2030)
- Employees, including historical (2015-2024) and forecast (2025-2030)
- Businesses, including historical (2015-2024) and forecast (2025-2030)
- Profit, including historical (2015-2025)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The US dollar’s versatility as a medium of exchange supports its popularity among forex providers. The US dollar has a lot of uses outside the United States, like its use as ...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2025
- Product innovation level
Charts
- Products & services segmentation in 2025
- Major market segmentation in 2025
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Population hubs like Melbourne and Sydney attract a lot of international visitors. These cities have high numbers of retail forex kiosks, particularly in central business dis...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2025
Tables
- Number and share of establishments in each region in 2025
- Number and share of revenue each region accounts for in 2025
- Number and share of wages each region accounts for in 2025
- Number and share of employees in each region in 2025
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
New forex firms can encounter difficulties competing on price with entrenched retail banks. These banks typically have access to more markets and can source foreign currencie...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2020-2025
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Flight Centre put a temporary pause on Travel Money OZ operations due to COVID-19 restrictions. The decision was made to limit operational losses caused by declining travel v...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2021 through 2025
- Major companies in the industry, including market share, revenue, profit and profit margin in 2025
- Overview of Travelex's performance by revenue, market share and profit margin from 2019 through 2025
- Overview of Flight Centre Travel's performance by revenue, market share and profit margin from 2019 through 2025
Detailed analysis
- Description and key data for Travelex, and factors influencing its performance in the industry
- Description and key data for Flight Centre Travel, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
According to ASIC, foreign exchange contracts that settle immediately aren’t financial products. For this reason, some forex firms don’t need an AFS licence to operate. A lic...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2015-2030)
- Assistance historical data and forecast (2015-2030)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Many foreign currency exchangers suffered losses during the pandemic, with other costs exceeding revenue. Even so, profit margins have rebounded alongside a resurgence in tra...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2025
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2025
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2015-2030)
- Revenue per Employee (2015-2030)
- Revenue per Enterprise (2015-2030)
- Employees per Establishment (2015-2030)
- Employees per Enterprise (2015-2030)
- Average Wage (2015-2030)
- Wages/Revenue (2015-2030)
- Establishments per Enterprise (2015-2030)
- IVA/Revenue (2015-2030)
- Imports/Demand (2015-2030)
- Exports/Revenue (2015-2030)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2015-2030)
- IVA (2015-2030)
- Establishments (2015-2030)
- Enterprises (2015-2030)
- Employment (2015-2030)
- Exports (2015-2030)
- Imports (2015-2030)
- Wages (2015-2030)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Foreign Currency Exchange Services industry in Australia in 2025?
The market size of the Foreign Currency Exchange Services industry in Australia is $1.2bn in 2025.
How many businesses are there in the Foreign Currency Exchange Services industry in Australia in 2025?
There are 214 businesses in the Foreign Currency Exchange Services industry in Australia, which has declined at a CAGR of 3.0 % between 2020 and 2025.
How may import tariffs affect the Foreign Currency Exchange Services industry in Australia?
The Foreign Currency Exchange Services industry in Australia is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Foreign Currency Exchange Services industry in Australia?
The Foreign Currency Exchange Services industry in Australia is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Foreign Currency Exchange Services industry in Australia grown or declined over the past 5 years?
The market size of the Foreign Currency Exchange Services industry in Australia has been growing at a CAGR of 23.5 % between 2020 and 2025.
What is the forecast growth of the Foreign Currency Exchange Services industry in Australia over the next 5 years?
Over the next five years, the Foreign Currency Exchange Services industry in Australia is expected to grow.
What are the biggest companies in the Foreign Currency Exchange Services industry in Australia?
The biggest companies operating in the Foreign Currency Exchange Services industry in Australia are Travelex and Flight Centre Travel
What does the Foreign Currency Exchange Services industry in Australia include?
US dollars and Euros are part of the Foreign Currency Exchange Services industry in Australia.
Which companies have the highest market share in the Foreign Currency Exchange Services industry in Australia?
The company holding the most market share in the Foreign Currency Exchange Services industry in Australia is Travelex.
How competitive is the Foreign Currency Exchange Services industry in Australia?
The level of competition is high and increasing in the Foreign Currency Exchange Services industry in Australia.
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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