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From 2023 to 2030, the worldwide market for short-term vacation rentals is projected to expand from an initial projection of USD 109.79 billion in 2022 at a CAGR (compound annual growth rate) of 12.2 percent.
An increasing number of people are opting for "staycations," increasing their spending on travel and tourism, and increasing their preference for inexpensive lodgings, all of which contribute to the expansion of the global market. In 2020, as a result of the COVID-19 epidemic, there was a decrease in the market for short-term holiday rentals. In 2021, foreign visitor numbers dropped by 71% from 2019, and in 2020 they dropped by 72% from 2019, for a total loss of 2.1 billion international arrivals due to the COVID-19 pandemic, as reported by the World Tourism Organization (UNWTO). Short-term rental bookings on sites like Airbnb and Booking.com were affected badly.
In the post-pandemic period, when more and more people are opting to work remotely, the line between work and play blurs. The upshot was an uptick in international tourism as people sought to find a better work-life balance by seeing the world. With the help of hosting platforms like Booking.com and Airbnb, short-term vacation rentals offer an attractive proposition for landlords because they can provide a great return on investment and help them achieve larger profits than traditional long-term rentals.
Over the projected time period, the home sector will continue to dominate the market in terms of lodging type. Most hotels don't provide enough services for groups, such as families or friends traveling together. The cost of eating out and booking multiple accommodations to accommodate everyone can quickly eat up a tourist's budget before the trip has even begun. Fortunately, it's not hard to find holiday rentals that can house a sizable group. Along with the basics (plenty of bedrooms, toilets, and televisions), visitors can save a lot of money by eating at least some of their meals at home.
In 2022, North America dominated the global hotel and restaurant industry because of the region's growing preference for these establishments as a result of an increase in international tourism. The North American continent is one of the most popular travel destinations because of its stunning natural beauty and proximity to three oceans. By investing heavily in infrastructure and connectivity development, especially in developing countries, government initiatives are expected to play a significant role in the global market, providing a wealth of opportunities for market players to expand their portfolios and contribute to the growth.
The downturn provided a chance to reevaluate the role of tourism in local communities, as well as to speed up the transition to a carbon-neutral, resilient short-term rental economy. The industry will also benefit from the rising demand for international travel in emerging nations and the subsequent decrease in flight rates around the world. To further appeal to millennials and design-conscious tourists, major players are advertising a wide range of short-term rentals, including homes, villas, beach houses, and apartments. As a result, the real estate sector should flourish, helping the economy expand. However, due to cost concerns, vacationing has declined since the outbreak.
A reduction in real Personal Consumption Expenditures (PCE) as of April 30, 2020, showed a fall of USD 829.9 billion in spending on services and USD 104.9 billion in spending on goods, as reported by the U.S. Bureau of Economic Analysis. A further factor limiting development in the sector is the prevalence of bogus listings for housing options such apartments, condos, and houses. However, as a result of the Internet and social media, consumers have a greater understanding of the services and products available to them. In an effort to attract more female tourists, leading companies have been advertising a variety of services, exotic destinations, and other perks tailored to women. Golightly, a vacation rental platform launched in January 2020, is one such example. It is owned and operated only by women, and its users are restricted to women. There are more than 350 properties under the company's control.
Report Coverage
Global Short-term Vacation Rental research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Short-term Vacation Rental report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Short-term Vacation Rental competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Short-term Vacation Rental market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Short-term Vacation Rental market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Short-term Vacation Rental market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
9flats.com PTE Ltd., Airbnb, Inc., Booking Holdings Inc., Expedia Group, Inc., Hotelplan Management AG, MakeMyTrip Pvt. Ltd., NOVASOL A/S, Oravel Stays Private Limited, Tripadvisor, Inc., Wyndham Destinations, Inc.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Short-term Vacation Rental market based on the below-mentioned segments:
Global Short-term Vacation Rental Market, By Type
Home
Apartments
Resort/Condominium
Others
Global Short-term Vacation Rental market, By Booking Mode
Online/Platform-based
Offline
Global Short-term Vacation Rental market, Regional Analysis
An increasing number of people are opting for "staycations," increasing their spending on travel and tourism, and increasing their preference for inexpensive lodgings, all of which contribute to the expansion of the global market. In 2020, as a result of the COVID-19 epidemic, there was a decrease in the market for short-term holiday rentals. In 2021, foreign visitor numbers dropped by 71% from 2019, and in 2020 they dropped by 72% from 2019, for a total loss of 2.1 billion international arrivals due to the COVID-19 pandemic, as reported by the World Tourism Organization (UNWTO). Short-term rental bookings on sites like Airbnb and Booking.com were affected badly.
In the post-pandemic period, when more and more people are opting to work remotely, the line between work and play blurs. The upshot was an uptick in international tourism as people sought to find a better work-life balance by seeing the world. With the help of hosting platforms like Booking.com and Airbnb, short-term vacation rentals offer an attractive proposition for landlords because they can provide a great return on investment and help them achieve larger profits than traditional long-term rentals.
Over the projected time period, the home sector will continue to dominate the market in terms of lodging type. Most hotels don't provide enough services for groups, such as families or friends traveling together. The cost of eating out and booking multiple accommodations to accommodate everyone can quickly eat up a tourist's budget before the trip has even begun. Fortunately, it's not hard to find holiday rentals that can house a sizable group. Along with the basics (plenty of bedrooms, toilets, and televisions), visitors can save a lot of money by eating at least some of their meals at home.
In 2022, North America dominated the global hotel and restaurant industry because of the region's growing preference for these establishments as a result of an increase in international tourism. The North American continent is one of the most popular travel destinations because of its stunning natural beauty and proximity to three oceans. By investing heavily in infrastructure and connectivity development, especially in developing countries, government initiatives are expected to play a significant role in the global market, providing a wealth of opportunities for market players to expand their portfolios and contribute to the growth.
The downturn provided a chance to reevaluate the role of tourism in local communities, as well as to speed up the transition to a carbon-neutral, resilient short-term rental economy. The industry will also benefit from the rising demand for international travel in emerging nations and the subsequent decrease in flight rates around the world. To further appeal to millennials and design-conscious tourists, major players are advertising a wide range of short-term rentals, including homes, villas, beach houses, and apartments. As a result, the real estate sector should flourish, helping the economy expand. However, due to cost concerns, vacationing has declined since the outbreak.
A reduction in real Personal Consumption Expenditures (PCE) as of April 30, 2020, showed a fall of USD 829.9 billion in spending on services and USD 104.9 billion in spending on goods, as reported by the U.S. Bureau of Economic Analysis. A further factor limiting development in the sector is the prevalence of bogus listings for housing options such apartments, condos, and houses. However, as a result of the Internet and social media, consumers have a greater understanding of the services and products available to them. In an effort to attract more female tourists, leading companies have been advertising a variety of services, exotic destinations, and other perks tailored to women. Golightly, a vacation rental platform launched in January 2020, is one such example. It is owned and operated only by women, and its users are restricted to women. There are more than 350 properties under the company's control.
Report Coverage
Global Short-term Vacation Rental research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Short-term Vacation Rental report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Short-term Vacation Rental competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Short-term Vacation Rental market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | 9flats.com PTE Ltd., Airbnb, Inc., Booking Holdings Inc., Expedia Group, Inc., Hotelplan Management AG, MakeMyTrip Pvt. Ltd., NOVASOL A/S, Oravel Stays Private Limited, Tripadvisor, Inc., Wyndham Destinations, Inc. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Short-term Vacation Rental Market from 2021 to 2030.
- Market Forecast for Short-term Vacation Rental Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Short-term Vacation Rental competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Short-term Vacation Rental
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Short-term Vacation Rental market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Short-term Vacation Rental market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
9flats.com PTE Ltd., Airbnb, Inc., Booking Holdings Inc., Expedia Group, Inc., Hotelplan Management AG, MakeMyTrip Pvt. Ltd., NOVASOL A/S, Oravel Stays Private Limited, Tripadvisor, Inc., Wyndham Destinations, Inc.
Primary Target Market
- Market Players of Short-term Vacation Rental
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Short-term Vacation Rental market based on the below-mentioned segments:
Global Short-term Vacation Rental Market, By Type
Home
Apartments
Resort/Condominium
Others
Global Short-term Vacation Rental market, By Booking Mode
Online/Platform-based
Offline
Global Short-term Vacation Rental market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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