The short-term vacation rental market is expected to expand at a CAGR of 10.80% through 2034. The market value is projected to increase from US$ 1,35,258.3 million in 2024 to US$ 3,77,191.2 million by 2034. The short-term vacation rental industry share was valued at US$ 1,21,416.8 million in 2023.
| Attribute | Detail |
|---|---|
| Short-term Vacation Rental Market Size, 2023 | US$ 1,21,416.8 million |
| Estimated Market Size, 2024 | US$ 1,35,258.3 million |
| Projected Market Size, 2034 | US$ 3,77,191.2 million |
| Value-based CAGR, 2024 to 2034 | 10.80% |
The travel and tourism sector is undergoing a massive shift as consumers show an increased appetite for adventure, travel, and exploration activities. The emerging pattern is contributing to the popularity of rental property for short stays, which permits travelers to book local stays for workcation, vacation, or even to experience digital nomad life. Increasing competition in the market is anticipated to boost innovation and lead to the growth of short-term vacation rentals.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
| Attributes | Details |
|---|---|
| Historical Market Value (2019) | US$ 83,840.20 million |
| Short-term Vacation Rental Market Value (2023) | US$ 1,21,416.8 million |
| Historical CAGR (2019 to 2023) | 9.70% |
The short-term vacation rental market registered a CAGR of 9.70% from 2019 to 2023. The market reached US$ 1,21,416.8 million in 2023 from US$ 83,840.20 million in 2019. The expanding millennial demographic, along with the growing trend of vacation, travel, and lodging expenditure, is fueling market growth. Other key factors contributing to market growth are as follows:
Increasing safety concerns for travelers, especially females, is resulting in dedicated services by leading players to capture this market segment. For instance, in 2020, Golightly came into being. This platform provides holiday rentals and home-shares in a vetted community. The platform is run and offered only to female guests.
The market is expected to inflate from US$ 1,35,258.3 million in 2024 to US$ 3,77,191.2 million by 2034. The market is anticipated to expand at an impressive CAGR of 10.80% through the forecast period.
| Historical CAGR (2019 to 2023) | 9.70% |
|---|---|
| Forecasted CAGR (2024 to 2034) | 10.80% |
Principal Consultant
The section below provides key attributes of three interrelated markets: the short-term vacation rental market, the short-term rental platform market, and the vacation rental market. Drivers, latest trends, and emerging opportunities have been highlighted in the tables below to gain perspective on these markets.
The short-term rental platform market is projected to register a remarkable CAGR over the upcoming period. The higher penetration level of this market suggests consumer acceptability and desire to explore short-term rentals for an immersive experience.
The vacation rental market is estimated to have a slower growth comparatively. The market is backed by growing demand for destination weddings and efforts to increase brand visibility.
Short-term Vacation Rental Market:
| Attributes | Short-term Vacation Rental Market |
|---|---|
| CAGR (2024 to 2034) | 10.8% |
| Growth Factor | Increasing appeal among millennials and digital nomads. |
| Future Opportunities | Surging availability of property management and rental services. |
| Market Trends | Increasing number of property owners putting their unused property for rentals. |
Short-Term Rental Platform Market:
| Attributes | Short-Term Rental Platform Market |
|---|---|
| CAGR (2024 to 2034) | 19.1% |
| Growth Factor | Booming tourism industry is enlarging the short-term rental platform market size. |
| Future Opportunities | Increasing government investments for improved connectivity and infrastructure. |
| Market Trends | Growing demand for real-time booking for vacation rentals on online platforms. |
Vacation Rental Market:
| Attributes | Vacation Rental Market |
|---|---|
| CAGR (2024 to 2034) | 5.9% |
| Growth Factor | Growing demand for immersive and unique vacation experiences is increasing demand for vacation rentals. |
| Future Opportunities | Surging demand for budget-free homestays and apartment rentals away from busy city life. |
| Market Trends | Fitness and wellness trips to raise demand and value of vacation rentals. |
| Countries | CAGR (2024 to 2034) |
|---|---|
| United States | 5.90% |
| Germany | 9.20% |
| China | 14.60% |
| India | 15.70% |
| Australia | 9.70% |
In the United States, the short-term vacation rental market is set to register a CAGR of 5.90% through 2034. The top contributors to market growth are as follows:
These trends, along with the rising discretionary incomes of these travelers, are propelling market growth.
The German short-term vacation rental market is anticipated to register a CAGR of 9.20% through 2034. Top factors propelling the demand for this type of accommodation are as follows:
The short-term vacation rental market in China is anticipated to record a robust CAGR of 14.60% through 2034. The following factors complement the market’s growth:
The demand for short-term vacation rentals in India is expected to experience a CAGR of 15.70% through 2034. The leading factors for the industry’s growth are as follows:
All these factors play a crucial role in helping the market in India advance. The market is expected to rise exponentially, with sufficient investments in the Indian economy.
Short-term vacation rentals in Australia is significantly contributing to its tourism sector. Going forward, the country is anticipated to account for a CAGR of 9.70% through 2034. Top factors pushing the market’s growth are given below:
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
| Top Accommodation Type | Resorts |
|---|---|
| Market Share (2024) | 40.40% |
As per the latest market projections, the resort segment is anticipated to acquire a market share of 40.40% in 2024. The growing appeal of mini vacations is increasing the attractiveness of rental resorts among travelers. Various advantages and convenient services offered by resorts attract a significant population for this type of accommodation. A few of the benefits include safer tourist spots, favorable social interactions, and planned activities and adventures.
| Top Booking Mode | Online |
|---|---|
| Market Share (2024) | 59.40% |
Online booking mode is anticipated to represent a dominant market share of 59.40% in 2024. The segment is expected to expand at a rapid pace, too, raising the market share by 2034. Consumers are opting for online channels to ease the process of booking rental properties. Companies are optimizing their sites by using advanced technologies to provide a user-friendly experience. Technology enables streamlined booking and automation for maximum efficiency. As a result, property owners opt for online mediums to get bookings.
Key players in the market are aiming for a higher volume of customers by adopting various strategies like expansion into new verticals. Additionally, players are focusing on diversification of their services to expand their market share.
Market leaders are reaching new markets by listing their properties in new countries, cities, and regions. This strategy is being propelled by the rising popularity of short-term vacation rentals as an alternative to conventional hotels.
Industry participants are further acquiring smaller platforms, thus allowing them access to the latest properties and more customers. Acquisition strategy also helps expand the technological capabilities of companies.
Market players are also collaborating with hotels to provide their services to a wider customer base. Additionally, companies are investing in the latest technologies to enhance the booking experience of their customers. This consists of enhancing booking functionality, developing new mobile apps, and providing personalized recommendations.
Industry participants are curating experiences and packages to provide enhanced experiences to their customers. By doing so, they can enjoy a competitive advantage over other players.
New Developments Shaping the Short-term Vacation Rental Market
The short-term vacation rental market is estimated to be valued at US$ 1,35,258.3 million in 2024.
The market is predicted to expand at a CAGR of 10.8% through 2034.
The short-term vacation rental market is anticipated to reach US$ 3,77,191.2 million by 2034.
The market in India is predicted to provide high growth opportunities.
The resorts segment acquires a leading share of the market.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Accommodation Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Accommodation Type, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Accommodation Type, 2024 to 2034 5.3.1. Home 5.3.2. Apartments 5.3.3. Resort/Condominium 5.3.4. Others 5.4. Y-o-Y Growth Trend Analysis By Accommodation Type, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Accommodation Type, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Booking Mode 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Booking Mode, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Booking Mode, 2024 to 2034 6.3.1. Online/Platform-based 6.3.2. Offline 6.4. Y-o-Y Growth Trend Analysis By Booking Mode, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By Booking Mode, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2019 to 2023 7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2024 to 2034 7.3.1. North America 7.3.2. Latin America 7.3.3. Western Europe 7.3.4. Eastern Europe 7.3.5. South Asia and Pacific 7.3.6. East Asia 7.3.7. Middle East and Africa 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 8.2.1. By Country 8.2.1.1. USA 8.2.1.2. Canada 8.2.2. By Accommodation Type 8.2.3. By Booking Mode 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Accommodation Type 8.3.3. By Booking Mode 8.4. Key Takeaways 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Accommodation Type 9.2.3. By Booking Mode 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Accommodation Type 9.3.3. By Booking Mode 9.4. Key Takeaways 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. UK 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Western Europe 10.2.2. By Accommodation Type 10.2.3. By Booking Mode 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Accommodation Type 10.3.3. By Booking Mode 10.4. Key Takeaways 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. Poland 11.2.1.2. Russia 11.2.1.3. Czech Republic 11.2.1.4. Romania 11.2.1.5. Rest of Eastern Europe 11.2.2. By Accommodation Type 11.2.3. By Booking Mode 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Accommodation Type 11.3.3. By Booking Mode 11.4. Key Takeaways 12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Bangladesh 12.2.1.3. Australia 12.2.1.4. New Zealand 12.2.1.5. Rest of South Asia and Pacific 12.2.2. By Accommodation Type 12.2.3. By Booking Mode 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Accommodation Type 12.3.3. By Booking Mode 12.4. Key Takeaways 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Accommodation Type 13.2.3. By Booking Mode 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Accommodation Type 13.3.3. By Booking Mode 13.4. Key Takeaways 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of MEA 14.2.2. By Accommodation Type 14.2.3. By Booking Mode 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Accommodation Type 14.3.3. By Booking Mode 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2023 15.1.2.1. By Accommodation Type 15.1.2.2. By Booking Mode 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2023 15.2.2.1. By Accommodation Type 15.2.2.2. By Booking Mode 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2023 15.3.2.1. By Accommodation Type 15.3.2.2. By Booking Mode 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2023 15.4.2.1. By Accommodation Type 15.4.2.2. By Booking Mode 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2023 15.5.2.1. By Accommodation Type 15.5.2.2. By Booking Mode 15.6. UK 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2023 15.6.2.1. By Accommodation Type 15.6.2.2. By Booking Mode 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2023 15.7.2.1. By Accommodation Type 15.7.2.2. By Booking Mode 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2023 15.8.2.1. By Accommodation Type 15.8.2.2. By Booking Mode 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2023 15.9.2.1. By Accommodation Type 15.9.2.2. By Booking Mode 15.10. Poland 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2023 15.10.2.1. By Accommodation Type 15.10.2.2. By Booking Mode 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2023 15.11.2.1. By Accommodation Type 15.11.2.2. By Booking Mode 15.12. Czech Republic 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2023 15.12.2.1. By Accommodation Type 15.12.2.2. By Booking Mode 15.13. Romania 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2023 15.13.2.1. By Accommodation Type 15.13.2.2. By Booking Mode 15.14. India 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2023 15.14.2.1. By Accommodation Type 15.14.2.2. By Booking Mode 15.15. Bangladesh 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2023 15.15.2.1. By Accommodation Type 15.15.2.2. By Booking Mode 15.16. Australia 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2023 15.16.2.1. By Accommodation Type 15.16.2.2. By Booking Mode 15.17. New Zealand 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2023 15.17.2.1. By Accommodation Type 15.17.2.2. By Booking Mode 15.18. China 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2023 15.18.2.1. By Accommodation Type 15.18.2.2. By Booking Mode 15.19. Japan 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2023 15.19.2.1. By Accommodation Type 15.19.2.2. By Booking Mode 15.20. South Korea 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2023 15.20.2.1. By Accommodation Type 15.20.2.2. By Booking Mode 15.21. GCC Countries 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2023 15.21.2.1. By Accommodation Type 15.21.2.2. By Booking Mode 15.22. South Africa 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2023 15.22.2.1. By Accommodation Type 15.22.2.2. By Booking Mode 15.23. Israel 15.23.1. Pricing Analysis 15.23.2. Market Share Analysis, 2023 15.23.2.1. By Accommodation Type 15.23.2.2. By Booking Mode 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Accommodation Type 16.3.3. By Booking Mode 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. 9flats.com PTE Ltd 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.2. Airbnb, Inc 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.3. Booking Holdings Inc 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.4. Expedia Group, Inc 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.5. Hotelplan Management AG 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.6. MakeMyTrip Pvt. Ltd 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.7. NOVASOL A/S 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.8. Oravel Stays Private Limited 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.9. Tripadvisor, Inc 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.10. Wyndham Destinations, Inc 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
Explore Travel and Tourism Insights
View Reports
Short-term Vacation Rental Market
