The short-term vacation rental market is expected to expand at a CAGR of 10.80% through 2034. The market value is projected to increase from US$ 1,35,258.3 million in 2024 to US$ 3,77,191.2 million by 2034. The short-term vacation rental industry share was valued at US$ 1,21,416.8 million in 2023.
| Attribute | Detail |
|---|---|
| Short-term Vacation Rental Market Size, 2023 | US$ 1,21,416.8 million |
| Estimated Market Size, 2024 | US$ 1,35,258.3 million |
| Projected Market Size, 2034 | US$ 3,77,191.2 million |
| Value-based CAGR, 2024 to 2034 | 10.80% |
The travel and tourism sector is undergoing a massive shift as consumers show an increased appetite for adventure, travel, and exploration activities. The emerging pattern is contributing to the popularity of rental property for short stays, which permits travelers to book local stays for workcation, vacation, or even to experience digital nomad life. Increasing competition in the market is anticipated to boost innovation and lead to the growth of short-term vacation rentals.
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| Attributes | Details |
|---|---|
| Historical Market Value (2019) | US$ 83,840.20 million |
| Short-term Vacation Rental Market Value (2023) | US$ 1,21,416.8 million |
| Historical CAGR (2019 to 2023) | 9.70% |
The short-term vacation rental market registered a CAGR of 9.70% from 2019 to 2023. The market reached US$ 1,21,416.8 million in 2023 from US$ 83,840.20 million in 2019. The expanding millennial demographic, along with the growing trend of vacation, travel, and lodging expenditure, is fueling market growth. Other key factors contributing to market growth are as follows:
Increasing safety concerns for travelers, especially females, is resulting in dedicated services by leading players to capture this market segment. For instance, in 2020, Golightly came into being. This platform provides holiday rentals and home-shares in a vetted community. The platform is run and offered only to female guests.
The market is expected to inflate from US$ 1,35,258.3 million in 2024 to US$ 3,77,191.2 million by 2034. The market is anticipated to expand at an impressive CAGR of 10.80% through the forecast period.
| Historical CAGR (2019 to 2023) | 9.70% |
|---|---|
| Forecasted CAGR (2024 to 2034) | 10.80% |
Principal Consultant
| Countries | CAGR (2024 to 2034) |
|---|---|
| United States | 5.90% |
| Germany | 9.20% |
| China | 14.60% |
| India | 15.70% |
| Australia | 9.70% |
In the United States, the short-term vacation rental market is set to register a CAGR of 5.90% through 2034. The top contributors to market growth are as follows:
These trends, along with the rising discretionary incomes of these travelers, are propelling market growth.
The German short-term vacation rental market is anticipated to register a CAGR of 9.20% through 2034. Top factors propelling the demand for this type of accommodation are as follows:
The short-term vacation rental market in China is anticipated to record a robust CAGR of 14.60% through 2034. The following factors complement the market’s growth:
The demand for short-term vacation rentals in India is expected to experience a CAGR of 15.70% through 2034. The leading factors for the industry’s growth are as follows:
All these factors play a crucial role in helping the market in India advance. The market is expected to rise exponentially, with sufficient investments in the Indian economy.
Short-term vacation rentals in Australia is significantly contributing to its tourism sector. Going forward, the country is anticipated to account for a CAGR of 9.70% through 2034. Top factors pushing the market’s growth are given below:
| Top Accommodation Type | Resorts |
|---|---|
| Market Share (2024) | 40.40% |
As per the latest market projections, the resort segment is anticipated to acquire a market share of 40.40% in 2024. The growing appeal of mini vacations is increasing the attractiveness of rental resorts among travelers. Various advantages and convenient services offered by resorts attract a significant population for this type of accommodation. A few of the benefits include safer tourist spots, favorable social interactions, and planned activities and adventures.
| Top Booking Mode | Online |
|---|---|
| Market Share (2024) | 59.40% |
Online booking mode is anticipated to represent a dominant market share of 59.40% in 2024. The segment is expected to expand at a rapid pace, too, raising the market share by 2034. Consumers are opting for online channels to ease the process of booking rental properties. Companies are optimizing their sites by using advanced technologies to provide a user-friendly experience. Technology enables streamlined booking and automation for maximum efficiency. As a result, property owners opt for online mediums to get bookings.
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Key players in the market are aiming for a higher volume of customers by adopting various strategies like expansion into new verticals. Additionally, players are focusing on diversification of their services to expand their market share.
Market leaders are reaching new markets by listing their properties in new countries, cities, and regions. This strategy is being propelled by the rising popularity of short-term vacation rentals as an alternative to conventional hotels.
Industry participants are further acquiring smaller platforms, thus allowing them access to the latest properties and more customers. Acquisition strategy also helps expand the technological capabilities of companies.
Market players are also collaborating with hotels to provide their services to a wider customer base. Additionally, companies are investing in the latest technologies to enhance the booking experience of their customers. This consists of enhancing booking functionality, developing new mobile apps, and providing personalized recommendations.
Industry participants are curating experiences and packages to provide enhanced experiences to their customers. By doing so, they can enjoy a competitive advantage over other players.
New Developments Shaping the Short-term Vacation Rental Market
The short-term vacation rental market is estimated to be valued at US$ 1,35,258.3 million in 2024.
The market is predicted to expand at a CAGR of 10.8% through 2034.
The short-term vacation rental market is anticipated to reach US$ 3,77,191.2 million by 2034.
The market in India is predicted to provide high growth opportunities.
The resorts segment acquires a leading share of the market.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
4.1. Historical Market Size Value (US$ Million) Analysis, 2019 to 2023
4.2. Current and Future Market Size Value (US$ Million) Projections, 2024 to 2034
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Accommodation Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Accommodation Type, 2019 to 2023
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Accommodation Type, 2024 to 2034
5.3.1. Home
5.3.2. Apartments
5.3.3. Resort/Condominium
5.3.4. Others
5.4. Y-o-Y Growth Trend Analysis By Accommodation Type, 2019 to 2023
5.5. Absolute $ Opportunity Analysis By Accommodation Type, 2024 to 2034
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Booking Mode
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Booking Mode, 2019 to 2023
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Booking Mode, 2024 to 2034
6.3.1. Online/Platform-based
6.3.2. Offline
6.4. Y-o-Y Growth Trend Analysis By Booking Mode, 2019 to 2023
6.5. Absolute $ Opportunity Analysis By Booking Mode, 2024 to 2034
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2019 to 2023
7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2024 to 2034
7.3.1. North America
7.3.2. Latin America
7.3.3. Western Europe
7.3.4. Eastern Europe
7.3.5. South Asia and Pacific
7.3.6. East Asia
7.3.7. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Accommodation Type
8.2.3. By Booking Mode
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Accommodation Type
8.3.3. By Booking Mode
8.4. Key Takeaways
9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Accommodation Type
9.2.3. By Booking Mode
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Accommodation Type
9.3.3. By Booking Mode
9.4. Key Takeaways
10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. UK
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Western Europe
10.2.2. By Accommodation Type
10.2.3. By Booking Mode
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Accommodation Type
10.3.3. By Booking Mode
10.4. Key Takeaways
11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
11.2.1. By Country
11.2.1.1. Poland
11.2.1.2. Russia
11.2.1.3. Czech Republic
11.2.1.4. Romania
11.2.1.5. Rest of Eastern Europe
11.2.2. By Accommodation Type
11.2.3. By Booking Mode
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Accommodation Type
11.3.3. By Booking Mode
11.4. Key Takeaways
12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Bangladesh
12.2.1.3. Australia
12.2.1.4. New Zealand
12.2.1.5. Rest of South Asia and Pacific
12.2.2. By Accommodation Type
12.2.3. By Booking Mode
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Accommodation Type
12.3.3. By Booking Mode
12.4. Key Takeaways
13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Accommodation Type
13.2.3. By Booking Mode
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Accommodation Type
13.3.3. By Booking Mode
13.4. Key Takeaways
14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Accommodation Type
14.2.3. By Booking Mode
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Accommodation Type
14.3.3. By Booking Mode
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2023
15.1.2.1. By Accommodation Type
15.1.2.2. By Booking Mode
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2023
15.2.2.1. By Accommodation Type
15.2.2.2. By Booking Mode
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2023
15.3.2.1. By Accommodation Type
15.3.2.2. By Booking Mode
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2023
15.4.2.1. By Accommodation Type
15.4.2.2. By Booking Mode
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2023
15.5.2.1. By Accommodation Type
15.5.2.2. By Booking Mode
15.6. UK
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2023
15.6.2.1. By Accommodation Type
15.6.2.2. By Booking Mode
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2023
15.7.2.1. By Accommodation Type
15.7.2.2. By Booking Mode
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2023
15.8.2.1. By Accommodation Type
15.8.2.2. By Booking Mode
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2023
15.9.2.1. By Accommodation Type
15.9.2.2. By Booking Mode
15.10. Poland
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2023
15.10.2.1. By Accommodation Type
15.10.2.2. By Booking Mode
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2023
15.11.2.1. By Accommodation Type
15.11.2.2. By Booking Mode
15.12. Czech Republic
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2023
15.12.2.1. By Accommodation Type
15.12.2.2. By Booking Mode
15.13. Romania
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2023
15.13.2.1. By Accommodation Type
15.13.2.2. By Booking Mode
15.14. India
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2023
15.14.2.1. By Accommodation Type
15.14.2.2. By Booking Mode
15.15. Bangladesh
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2023
15.15.2.1. By Accommodation Type
15.15.2.2. By Booking Mode
15.16. Australia
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2023
15.16.2.1. By Accommodation Type
15.16.2.2. By Booking Mode
15.17. New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2023
15.17.2.1. By Accommodation Type
15.17.2.2. By Booking Mode
15.18. China
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2023
15.18.2.1. By Accommodation Type
15.18.2.2. By Booking Mode
15.19. Japan
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2023
15.19.2.1. By Accommodation Type
15.19.2.2. By Booking Mode
15.20. South Korea
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2023
15.20.2.1. By Accommodation Type
15.20.2.2. By Booking Mode
15.21. GCC Countries
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2023
15.21.2.1. By Accommodation Type
15.21.2.2. By Booking Mode
15.22. South Africa
15.22.1. Pricing Analysis
15.22.2. Market Share Analysis, 2023
15.22.2.1. By Accommodation Type
15.22.2.2. By Booking Mode
15.23. Israel
15.23.1. Pricing Analysis
15.23.2. Market Share Analysis, 2023
15.23.2.1. By Accommodation Type
15.23.2.2. By Booking Mode
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Accommodation Type
16.3.3. By Booking Mode
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. 9flats.com PTE Ltd
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. Airbnb, Inc
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. Booking Holdings Inc
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. Expedia Group, Inc
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. Hotelplan Management AG
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. MakeMyTrip Pvt. Ltd
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. NOVASOL A/S
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. Oravel Stays Private Limited
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. Tripadvisor, Inc
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. Wyndham Destinations, Inc
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Short-term Vacation Rental Market
