What Credit and ATM Searches Reveal: A Case of Armenian Cities
Google search data presents an intriguing case for analyzing the interests of individuals, particularly regarding ATMs in the Republic of Armenia. The popularity of ATMs in Armenia, as in other countries, can be attributed to several factors.
Firstly, tourists seek convenient access to their funds while traveling, making ATMs a vital solution for cash withdrawals in foreign locations. In addition, many rural markets heavily rely on cash payments due to limited card payment options.
Secondly, tourists often utilize their home country’s bank cards and need to exchange currencies when using ATMs in Armenia. The process of cross-border card usage is elaborated upon in Joseph F. Sinkey’s book, “Commercial Bank Financial Management in the Financial Services Industry.” Furthermore, urban areas with dense populations and high mobility witness a substantial surge in ATM usage.
Lastly, ATMs serve a variety of purposes beyond cash withdrawals, such as utility bill payments and converting cryptocurrency to cash. The accompanying figure demonstrates that the search term “ATM near me” is more frequently used than “Ameria ATM.”
The search trends provide valuable insights into the preferences and behaviors of individuals when it comes to accessing financial services. By understanding these patterns, policymakers and financial institutions can tailor their strategies to ensure better access to finance for all individuals, both local residents and visitors alike.
It is interesting to note that searches for direct bank ATMs can be attributed to card owners who prefer using ATMs from their own bank, avoiding additional fees charged by other banks. On the other hand, these searches may also indicate that individuals are aware of the absence of ATMs from their own bank and are actively looking for ATMs belonging to other banks that they know of.
During the last five years, Google searches for ATMs in Armenia have shown a higher frequency during the pandemic period. This increase in searches can be attributed to factors such as the rise in domestic tourism and the situation of rural areas being under lockdown. In these circumstances, individuals in rural areas may have a greater need for cash transactions, especially in small shops located outside city centers.
Google Trends data for credit searches in the Republic of Armenia from 2018 to 2023 reveals a higher frequency during the pandemic period. This increase can be attributed to two possible reasons. Firstly, it may be a result of financial difficulties faced by citizens during the challenging times of the pandemic. Secondly, the rise in internet usage during lockdowns and the increasing digitization of services could have contributed to the higher search volume.
The financial landscape is not uniform and well-distributed across the country. Regional disparities in Armenia are evident, with Yerevan being the capital city and home to approximately one-third of the country’s population (over 1,060,138 residents). However, Google Trends data shows that apart from Yerevan, people in regions such as Kotayk, Armavir, Ararat, and Aragacotn also actively search for ATMs. These regions demonstrate a significant interest in accessing financial services, indicating the importance of financial infrastructure beyond the capital city.
The city-wise data (municipalities) is depicted in the chart below, highlighting the search patterns. It is interesting to note that in municipalities such as Ijevan, Goris, and Arinj, the searches primarily revolve around banks. In terms of credit searches, the trends in most municipalities are not particularly high. However, when combining both banks and credit, ATM searches are predominantly observed in Yerevan. The concentration of ATM searches in municipalities suggests the need for further analysis to determine the underlying reasons behind this pattern.
The future of research on ATMs distribution in municipalities holds great potential for understanding the dynamics of financial accessibility. Further investigation can explore the factors influencing the variations in ATM availability and usage across different regions. This could involve analyzing the impact of socio-economic factors, population density, urbanization, and technological advancements on the distribution patterns. Additionally, examining the effectiveness of current strategies for ATM placement and identifying areas with limited access can guide policymakers in implementing targeted interventions to improve financial inclusivity. Such research endeavors can contribute to enhancing the overall efficiency and effectiveness of ATM networks in meeting the diverse needs of communities at the municipal level.
