Global Short-Term Vacation Rental Market Size, Share, And Growth Analysis For 2024-2033

Short-Term Vacation Rental Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 11, 2024 /EINPresswire.com/ -- The short-term vacation rental market size has shown strong growth recently. It will expand from $111.08 billion in 2023 to $120.77 billion in 2024, achieving a CAGR of 8.7%. The historical growth can be attributed to increased travel demand, a rise in remote work, and rising disposable incomes, alongside a desire for getaways to rural or scenic areas.

What Is The Estimated Market Size Of The Global Short-Term Vacation Rental Market And Its Annual Growth Rate?

The short-term vacation rental market is expected to see strong growth, with a projected size of $169.75 billion by 2028 and a CAGR of 8.9%. The anticipated growth is fueled by the ongoing rise of remote work, an increasing demand for sustainable vacation rental options, enhanced personalized recommendations and targeted marketing, a preference for unique travel experiences, and the expansion of global travel networks. Major trends include smart home integration, the utilization of AI and data analytics for tailored recommendations, the rise of digital nomadism, integration of virtual and augmented reality, and the emergence of specialized rentals catering to specific interests.

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Growth Driver of The Short-Term Vacation Rental Market

The rising number of travelers is anticipated to drive the growth of the short-term vacation rental market in the future. This increase in travelers is influenced by greater disposable income and a desire for unique, diverse experiences. Short-term vacation rentals offer travelers personalized, cost-effective accommodations with local experiences and home-like amenities.

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Which Market Players Are Driving The Short-Term Vacation Rental Market Growth?

Major companies operating in the short-term vacation rental market are Booking Holdings Inc., Expedia Group Inc., Airbnb Inc., Wyndham Destinations Inc., Agoda Company Pte. Ltd., Tripadvisor Inc., Vacasa Inc., Oravel Stays Private Limited, NOVASOL A/S, MakeMyTrip Pvt. Ltd., Hotelplan Management AG, Evolve Vacation Rental Network Inc., Hopper Inc., Holidu GmbH, Vacation Rental Pros Property Management LLC, HomeToGo GmbH, Atraveo GmbH, 9flats.com PTE Ltd., Housewise Services Pvt. Ltd., Homestay Technologies Ltd., Casiola WorldWide LLC, Homely Stays Pte. Ltd., StayBeyond Ltd

What Are The Emerging Trends Shaping The Short-Term Vacation Rental Market Size?

Major players in the short-term rental market are focused on developing property management solutions that enhance operational efficiency and guest experiences. These sophisticated software systems automate and streamline the management of rental properties, including booking, maintenance, and tenant communications.

How Is The Global Short-Term Vacation Rental Market Segmented?

1) By Accommodation Type: Home, Apartments, Resorts Or Condominium, Other Accommodation Types
2) By Booking Mode: Online Or Platform-Based, Offline
3) By Management: Managed By Owners, Professionally Managed

Geographical Insights: North America Leading The Short-Term Vacation Rental Market

North America was the largest region in the short-term vacation rental market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the short-term vacation rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Short-Term Vacation Rental Market Definition

Short-term vacation rentals refer to the temporary leasing of furnished properties, such as houses or apartments, typically for a duration of a few days to weeks. This rental type provides travelers with a home-like experience, offering more space and amenities compared to traditional hotels.

Short-Term Vacation Rental Global Market Report 2024 from The Business Research Company covers the following information:

• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global short-term vacation rental market report covering trends, opportunities, strategies, and more

The Short-Term Vacation Rental Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on short-term vacation rental market size, drivers and trends, short-term vacation rental market major players, competitors' revenues, market positioning, and market growth across geographies. The market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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