Australia Short Term Vacation Rental Market Size & Outlook
Australia short term vacation rental market, 2017-2030 (US$M)
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Australia short term vacation rental market highlights
- The Australia short term vacation rental market generated a revenue of USD 1,727.0 million in 2022 and is expected to reach USD 4,066.9 million by 2030.
- The Australia market is expected to grow at a CAGR of 11.3% from 2023 to 2030.
- In terms of segment, home was the largest revenue generating accommodation type in 2022.
- Resort/Condominium is the most lucrative accommodation type segment registering the fastest growth during the forecast period.
Short term vacation rental market data book summary
| Market revenue in 2022 | USD 1,727.0 million |
| Market revenue in 2030 | USD 4,066.9 million |
| Growth rate | 11.3% (CAGR from 2022 to 2030) |
| Largest segment | Home |
| Fastest growing segment | Resort/Condominium |
| Historical data | 2017 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Home, Apartments, Resort/Condominium |
| Key market players worldwide | Airbnb Inc Ordinary Shares - Class A, Booking Holdings Inc, Expedia Group Inc, MakeMyTrip Ltd, Tripadvisor Inc, Wyndham Hotels & Resorts Inc Ordinary Shares |
Other key industry trends
- In terms of revenue, Australia accounted for 1.6% of the global short term vacation rental market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China short term vacation rental market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 17,338.8 million by 2030.
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Short Term Vacation Rental Market Scope
Short Term Vacation Rental Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia short term vacation rental market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to short term vacation rental market will help companies and investors design strategic landscapes.
Home was the largest segment with a revenue share of 47.97% in 2022. Horizon Databook has segmented the Australia short term vacation rental market based on home, apartments, resort/condominium covering the revenue growth of each sub-segment from 2017 to 2030.
According to Australian Bureau of Statistics, there were 4,999 million visitors as of March 2023, which is an 816% year-on-year increase. Also, according to the same sources, tourists stayed 37 nights on an average.
Through its contribution to GDP and employment creation, the short-term rental sector has grown to be a significant participant in the Australia tourism market. According to Australian Financial Review, Made Comfy, an Airbnb management company in Australia, reported an average occupancy rate of 73% Sydney and Melbourne, showing a strong comeback in the STR industry.
Australia's beautiful coastline and scenic regions make it an attractive destination for vacation rentals. Coastal areas, beachside towns, and regions with natural attractions like the Great Barrier Reef, the Whitsundays, the Blue Mountains, and the Yarra Valley are popular spots for vacation rental properties.
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Target buyers of Australia short term vacation rental market databook
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Our clientele includes a mix of short term vacation rental market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Australia short term vacation rental market , including forecasts for subscribers. This country databook contains high-level insights into Australia short term vacation rental market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Australia short term vacation rental market size, by accommodation type, 2017-2030 (US$M)
Australia Short Term Vacation Rental Market Outlook Share, 2022 & 2030 (US$M)
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