Dublin, Nov. 03, 2023 (GLOBE NEWSWIRE) -- The "Global Short-term Vacation Rental Market Outlook 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The report provides insights into the global short-term vacation rental market, which is poised for significant growth in the coming years. Here's a summary of the key highlights and market trends:
Market Size and Growth: The global short-term vacation rental market is expected to reach USD 256.31 billion by 2030, with a projected CAGR of 11.2% from 2023 to 2030. The market has witnessed substantial growth due to changing travel patterns, including a rise in staycations and increased expenditure on travel and tourism.
Work-Friendly Stays: The distinction between work and leisure is becoming less clear in the post-pandemic world. The work-from-home trend has made work more flexible, leading to an increase in travel as travelers seek new places to experience while balancing work and leisure. Short-term vacation rentals offer an attractive option for those looking to blend work and relaxation.
Accommodation Types: The home segment dominated the market, and it is expected to maintain the largest market share in the coming years. Vacation homes are favored by families or groups of friends traveling together due to their cost-effectiveness and the convenience of having multiple bedrooms, bathrooms, and amenities.
Regional Trends:
- North America: This region held the largest market share in 2022, with tourism and hospitality being a significant focus. The continent's diverse landscapes and tourist attractions contribute to its popularity as a travel destination.
- Asia Pacific: This region is experiencing rapid growth, with a rising number of small and medium-sized enterprises, an increase in business travel, changing travel habits, urbanization, and rising disposable incomes all contributing to market expansion.
Online/Platform-based Bookings: The online/platform-based segment is expected to witness substantial growth in the coming years. With increasing internet and smartphone penetration, vacation rental service providers are driving growth through online bookings.
Industry Players: Leading companies, such as MakeMyTrip Pvt. Ltd., are expanding their franchise networks to serve consumers in various cities and regions.
The global short-term vacation rental market is evolving to meet the changing needs and preferences of travelers. It offers a wide range of opportunities for both travelers and businesses in the hospitality and tourism sectors. This report provides valuable insights for investors, industry professionals, and stakeholders looking to navigate the dynamic landscape of short-term vacation rentals.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $109.76 Billion |
| Forecasted Market Value (USD) by 2030 | $256.31 Billion |
| Compound Annual Growth Rate | 11.2% |
| Regions Covered | Global |
Key Topics Covered
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Short-term Vacation Rental Market Variables, Trends & Scope
Chapter 4 Consumer Behavior Analysis
Chapter 5 Short-term Vacation Rental Market: Accommodation Type Estimates & Trend Analysis
Chapter 6 Short-term Vacation Rental Market: Booking Mode Estimates & Trend Analysis
Chapter 7 Short-term Vacation Rental Market: Regional Estimates & Trend Analysis
Chapter 8 Competitive Analysis
Companies Mentioned
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/txx5xs
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