Canada Short Term Vacation Rental Market Size & Outlook
Canada short term vacation rental market, 2017-2030 (US$M)
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Canada short term vacation rental market highlights
- The Canada short term vacation rental market generated a revenue of USD 3,828.2 million in 2022 and is expected to reach USD 9,511.6 million by 2030.
- The Canada market is expected to grow at a CAGR of 12% 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 3,828.2 million |
| Market revenue in 2030 | USD 9,511.6 million |
| Growth rate | 12% (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, Canada accounted for 3.5% 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 North America, U.S. short term vacation rental market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 9,511.6 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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Canada 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 36.46% in 2022. Horizon Databook has segmented the Canada short term vacation rental market based on home, apartments, resort/condominium covering the revenue growth of each sub-segment from 2017 to 2030.
Rental hosts have suffered severely due to the COVID-19 pandemic due to widespread restrictions on travel. As per Statistics Canada, in 2019, the tourism industry contributed around 2% of Canada’s GDP. Due to the travel restrictions and limitations, the number of international arrivals to Canada dropped by 54.2% in March 2020, as compared to February 2020.
Furthermore, the hotel occupancy rate fell below 20% by the first week of April 2020 across Canada. As per the Labour Force Survey, the tourism industry’s paid employment for April and May 2020 sank by nearly 60% in Canada, as compared to 2019.
However, with the easing of travel restrictions, the industry recovered in the region. This improving scenario bodes well for the short-term vacation rental market. The growth of online vacation rental platforms such as Airbnb, and HomeAway (Vrbo) has made it easier for homeowners to list their properties and for travelers to find and book accommodations.
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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 Canada short term vacation rental market , including forecasts for subscribers. This country databook contains high-level insights into Canada short term vacation rental market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Canada short term vacation rental market size, by accommodation type, 2017-2030 (US$M)
Canada Short Term Vacation Rental Market Outlook Share, 2022 & 2030 (US$M)
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