Market Highlights

The global vacation rental market is accounted to register a CAGR of 5.50% during the forecast period and is estimated to reach USD 121.8 billion by 2032.

Vacation rentals are temporary public accommodation properties that are rented to tourists as an alternative to hotels. Vacation rental stays are often less than 30 days. They are made up of furnished flats as well as professionally managed resorts or mansions. Airbnb, Expedia, HomeAway, VRBO, and other prominent vacation rental websites are available worldwide.

The rapid rise of the global travel and tourism sector is a major contributor to the expansion of the global Vacation Rental Market. Consumer spending on tourism activities is continuously increasing. Vacation rentals are becoming increasingly popular among travelers due to their amenities and low prices. Furthermore, families with children prefer holiday rentals because of the comfort and cost. The millennial generation is likely to drive market expansion during the forecast period. The increased knowledge of alternative hotels and lodges during travel contributes to market growth.

Segment Analysis

The global Vacation Rental Market Share has been segmented based accommodation type and booking mode.

On the basis of accommodation type, the market is segmented into home, apartments, resort/condominium and others. The home segment was attributed to holding the largest market share in 2022.

Based on booking mode, the global vacation rental market has been segmented into online and offline. The online segment was expected to hold the largest market share in 2022.

Regional Analysis

The global Vacation Rental Market Trends, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe vacation rental market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The vacation rental market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World vacation rental market comprises of Middle East, Africa, and Latin America.

The North American regional sector maintained the largest market share for vacation rental. The growing reliance of many countries on tourism and rising government spending on sophisticated infrastructure to attract tourists is a main driver of the sector. more air connectivity, more intraregional travel, an increase in inexpensive travel options, and an increase in digital platform deployment have all contributed to robust travel and tourist growth.

Moreover, the Europe market has been persistently growing over the forecast period. The presence of prominent tourism operators distinguishes Europe. Furthermore, rising tourism activities in Europe due to its large appeal among tourists and the presence of sophisticated infrastructure has tremendously contributed to market expansion. Germany, the United Kingdom, and Spain are likely to enjoy considerable market shares in Europe.

Additionally, Asia Pacific is one of the most popular tourist locations. The increasing reliance of numerous economies on tourism, as well as increased government spending in building sophisticated infrastructure to attract tourists, is a major market driver. Furthermore, the governments of nations such as India, China, Vietnam, Indonesia, Australia, and Thailand are focusing on boosting the tourist sector in order to produce cash, create jobs, and promote the region's overall development.

Furthermore, the rest of the world's vacation rental market is divided into the Middle East, Africa, and Latin America. Due to the increasing popularity of tourism and the presence of modern infrastructure, this industry has made a significant contribution to market expansion.

Key Findings of the Study

The global Vacation Rental Market is expected to reach USD 121.8 billion by 2032, at a CAGR of 5.50% during the forecast period.

• The Asia-Pacific region accounted for the fastest-growing global market due to increased disposable income, increased awareness, high healthcare spending, and government programmes designed to provide access to healthcare.
• Based on booking mode, the online segment was attributed to holding the largest market in 2022, with an approximate market share of 45–65%.
• com Pte Ltd.; Airbnb Inc.; Booking Holdings Inc.; Expedia Group Inc.; Hotelplan Holding AG; MakeMyTrip Pvt. Ltd.; NOVASOL AS; Oravel Stays Pvt. Ltd.; TripAdvisor Inc.; Wyndham Destinations Inc.

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