Monday, September 23, 2024 
Monday, September 23, 2024
Vacation Rental Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
The Business Research Company’s Vacation Rental Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
— The Business Research Company
LONDON, GREATER LONDON, UNITED KINGDOM, September 23, 2024 /EINPresswire.com/ — The vacation rental market has experienced robust growth in recent years, expanding from $84.06 billion in 2023 to $89.45 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to the rising tourism sector, increasing travel habits, regulatory changes and local policies, high demand during peak travel seasons, and growth in urbanization.
What Is The Estimated Market Size Of The Global Vacation Rental Market And Its Annual Growth Rate?
The vacation rental market is projected to continue its strong growth, reaching $115.90 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to the rising adoption of efficient promotional tactics, the increasing growth of remote work, rising disposable incomes, and the growing concentration on celebrity endorsements.
Explore Comprehensive Insights Into The Global Vacation Rental Market With A Detailed Sample Report:
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Growth Driver Of The Vacation Rental Market
The growth in the travel and tourism sectors is expected to propel the growth of the vacation rental market going forward. The travel and tourism sectors are comprehensive and multifaceted, encompassing everything from the transportation methods that carry travelers to their destinations to the wide array of services and experiences that make travel enjoyable and memorable. The growth in the travel and tourism sectors is due to improved transportation infrastructure, globalization, trade liberalization, a rising preference for experiential travel, and a rising interest in health and wellness tourism. Vacation rentals benefit the travel and tourism sectors by providing diverse accommodation options, boosting local economies, supporting longer stays, and enhancing traveler experiences with more personalized and flexible lodging alternatives.
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Which Market Players Are Driving the Vacation Rental Market Growth?
Key players in the vacation rental market include Airbnb Inc., Wyndham Destinations Inc., Agoda Company Pte. Ltd., TripAdvisor LLC, Vacasa LLC, Trivago GmbH, Priceline LLC, VRBO Inc., NOVASOL A/S, Hotels.com L.P., MakeMyTrip Pvt. Ltd., Pacaso Inc., KAYAK Software Corporation, AvantStay Inc., Hotelplan Management AG, HotelsCombined Pty Ltd, Whitetail Properties Real Estate LLC, Stellar MLS, Elliott Realty Group, 9flats GmbH, Panhandle Getaways Inc., StayMarquis LLC, Coastal Living Group LLC.
What Are the Emerging Trends Shaping the Vacation Rental Market Overview?
Major companies operating in the vacation rental market are focusing on expanding their businesses through innovative solutions such as premium vacation rental homes to attract high-end travelers, enhance guest experiences, and differentiate themselves in a competitive market. Premium vacation rental homes are high-end luxury properties that offer exceptional amenities, superior comfort, and unique experiences, catering to travelers seeking upscale accommodations and personalized services during their stay.
How Is The Global Vacation Rental Market Segmented?
1) By Accommodation Type: Home, Resort Or Condominium, Apartments, Hometown, Villas
2) By Price Point: Economic, Mid Range, Luxury
3) By Booking Mode: Online, Offline, Other Booking Modes
4) By End User Generation: Generation Zoomer, Millennials, Generation X, Boomers
Geographical Insights: Europe Leading The Vacation Rental Market
Europe was the largest region in the vacation rental market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vacation rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Vacation Rental Market Definition
A vacation rental is a type of lodging where homeowners or property managers rent out fully furnished properties or individual rooms within properties to travelers and tourists on a short-term basis. They offer an alternative to traditional hotel accommodations, often providing more space, privacy, and amenities tailored to the needs of travelers. Vacation rentals offer a versatile and often cost-effective lodging option for travelers seeking more space, privacy, and home-like comforts.
Vacation Rental Global Market Report 2024 from TBRC 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 vacation rental market report covering trends, opportunities, strategies, and more
The Vacation Rental Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on vacation rental market size, vacation rental market drivers and trends, vacation rental market major players, vacation rental competitors’ revenues, vacation rental market positioning, and vacation rental market growth across geographies. The vacation rental 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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Oliver Guirdham
The Business Research Company
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