South Africa Short Term Vacation Rental Market Size & Outlook
South Africa short term vacation rental market, 2017-2030 (US$M)
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South Africa short term vacation rental market highlights
- The South Africa short term vacation rental market generated a revenue of USD 1,295.5 million in 2022 and is expected to reach USD 2,577.9 million by 2030.
- The South Africa market is expected to grow at a CAGR of 9% 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 1,295.5 million |
| Market revenue in 2030 | USD 2,577.9 million |
| Growth rate | 9% (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, South Africa accounted for 1.2% 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 Middle East & Africa, South Africa short term vacation rental market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 2,577.9 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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South Africa 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 42.99% in 2022. Horizon Databook has segmented the South Africa short term vacation rental market based on home, apartments, resort/condominium covering the revenue growth of each sub-segment from 2017 to 2030.
Over the years, South Africa's tourism sector has steadily expanded as a result of the country's varied wildlife, scenic beauty, cultural legacy, and adventure offerings. The need for alternative lodging options like short-term rentals has risen as the tourism industry continues to prosper.
According to Statistics South Africa, the volume of tourist arrivals has shown a slight improvement since the COVID-19 pandemic, with the number of tourists increasing by 152.6% from 2,255,699 tourists in 2021 to 5,698,062 tourists in 2022.
Data by Business Insider South Africa published in a July 2022 News24 article shows that short-term rentals were most likely protected from the brunt of the pandemic and were quick to recover because many local travelers and returning foreign visitors preferred self-catering accommodations.
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Target buyers of South Africa 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 South Africa short term vacation rental market , including forecasts for subscribers. This country databook contains high-level insights into South Africa short term vacation rental market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa short term vacation rental market size, by accommodation type, 2017-2030 (US$M)
South Africa Short Term Vacation Rental Market Outlook Share, 2022 & 2030 (US$M)
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