Middle East & Africa Serviced Apartment Market Size & Outlook
The serviced apartment market in Middle East & Africa is expected to reach a projected revenue of US$ 10,604.1 million by 2030. A compound annual growth rate of 12% is expected of Middle East & Africa serviced apartment market from 2024 to 2030.
Revenue, 2023 (US$M)
$4,789.2
Forecast, 2030 (US$M)
$10,604.1
CAGR, 2024 - 2030
12%
Report Coverage
Middle East & Africa
Middle East & Africa serviced apartment market, 2018-2030 (US$M)
MEA serviced apartment market highlights
- The MEA serviced apartment market generated a revenue of USD 4,789.2 million in 2023.
- The market is expected to grow at a CAGR of 12% from 2024 to 2030.
- In terms of segment, long-term (>30 nights) was the largest revenue generating type in 2023.
- Long-Term (>30 Nights) is the most lucrative type segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2023 | USD 4,789.2 million |
| Market revenue in 2030 | USD 10,604.1 million |
| Growth rate | 12% (CAGR from 2023 to 2030) |
| Largest segment | Long-term (>30 nights) |
| Fastest growing segment | Long-Term (>30 Nights) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Long-Term (>30 Nights) |
| Key market players worldwide | CapitaLand India Trust Units Real Estate Investment Trust, Frasers Group PLC, Marriott International Inc Class A |
Other key industry trends
- In terms of revenue, MEA region accounted for 4.3% of the global serviced apartment market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 57,949.4 million by 2030.
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Serviced Apartment Market Scope
Serviced apartment market segmentation & scope
End Use
Corporate/Business Traveler
Leisure Travelers
Expats and Relocators
Booking Mode
Direct Booking
Online Travel Agencies
Corporate Contracts
Countries
U.S.
Canada
Mexico
Germany
UK
France
Italy
Spain
Denmark
Sweden
Norway
China
Japan
India
South Korea
Australia
Thailand
Brazil
Argentina
South Africa
Saudi Arabia
UAE
Kuwait
Serviced Apartment Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Middle East & Africa serviced apartment market
Related regional statistics
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