Key regions: Vietnam, United States, United Kingdom, Indonesia, Malaysia
The Vacation Rentals market in Malta has been experiencing significant growth and development in recent years.
Customer preferences: Travelers in Malta are increasingly seeking unique and authentic experiences, leading to a rise in demand for vacation rentals over traditional hotels. Visitors are looking for accommodations that offer a more personalized and local experience, allowing them to immerse themselves in the culture and lifestyle of the destination.
Trends in the market: One notable trend in the Vacation Rentals market in Malta is the increasing popularity of eco-friendly and sustainable properties. Travelers are becoming more conscious of their environmental impact and are actively seeking accommodations that prioritize sustainability. This trend has led to a growing number of eco-friendly vacation rentals in Malta, catering to the environmentally conscious traveler.
Local special circumstances: Malta's unique cultural heritage and historical attractions make it a popular tourist destination, driving the demand for vacation rentals. The island's rich history, beautiful beaches, and vibrant local culture attract visitors from around the world, creating a steady demand for alternative accommodations such as vacation rentals.
Underlying macroeconomic factors: The growth of the Vacation Rentals market in Malta can also be attributed to the increasing number of tourists visiting the island each year. Malta's tourism industry has been experiencing steady growth, supported by factors such as improved air connectivity, government initiatives to promote tourism, and a growing global interest in the Mediterranean region. This influx of tourists has fueled the demand for vacation rentals as travelers seek unique and personalized experiences during their stay in Malta.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
