Vacation Rentals - Worldwide

  • Worldwide
  • The Vacation Rentals market is expected to generate a revenue of US$100.30bn in the world in 2024.
  • This is anticipated to experience a Compound Annual Growth Rate (CAGR) of 3.14% from 2024 to 2028, leading to an estimated market volume of US$113.50bn by 2028.
  • It is projected that the number of users in this market will increase to 0.94bn users by 2028.
  • The user penetration rate is expected to rise from 11.1% in 2024 to 11.8% by 2028.
  • The Average Revenue Per User (ARPU) is forecasted to be US$116.80.
  • By 2028, online sales are expected to account for 76% of the total revenue in the Vacation Rentals market.
  • In comparison to other countries, United States is expected to generate the highest revenue of US$19,770m in 2024.
  • In the United States, vacation rental demand has shifted from urban areas to rural destinations due to the pandemic.

Key regions: Vietnam, Malaysia, Indonesia, Germany, United Kingdom

 
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Analyst Opinion

Vacation Rentals are becoming increasingly popular. Rooms, apartments or vacation homes can often be rented at very short notice, which increasingly represents an attractive accommodation alternative for tourists, especially from the USA and Europe.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of vacation rentals.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

Overview

  • Revenue
  • Sales Channels
  • Analyst Opinion
  • Users
  • Global Comparison
  • Methodology
  • Key Market Indicators
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