Global Vacation Rental Market Size & Outlook, 2023-2030
Global vacation rental market, 2017-2030 (US$M)
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Global vacation rental market highlights
- The global vacation rental market generated a revenue of USD 89,320.5 million in 2023 and is expected to reach USD 119,006.3 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 4.2% by 2030.
- In terms of segment, home accounted for a revenue of USD 42,532.2 million in 2023.
- Resort/Condominium is the most lucrative rental type segment registering the fastest growth during the forecast period.
- In terms of region, Europe was the largest revenue generating market in 2023.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 89,320.5 million |
| Market revenue in 2030 | USD 119,006.3 million |
| Growth rate | 4.2% (CAGR from 2023 to 2030) |
| Largest segment | Home |
| Fastest growing segment | Resort/Condominium |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Home, Apartments, Resort/Condominium |
Other key industry trends
- In terms of revenue, the North America accounted for 23.6% of the global vacation rental market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 22,118.9 million by 2030.
Home was the largest segment with a revenue share of 47.62% in 2023. Horizon Databook has segmented the Global vacation rental market based on home, apartments, resort/condominium covering the revenue growth of each sub-segment from 2017 to 2030.
Initially, consumers were skeptical about staying in an unknown person home, and likewise, hosts were hesitant about renting out their property. However, public perception of peer-to-peer (P2P) vacation rentals has shifted significantly in recent years.
The vacation rental industry has skyrocketed over the last few years and only declined after the COVID-19 outbreak, owing to lockdowns and restrictions on travel. Before the pandemic, travel was on the rise, and a growing consumer interest was observed in experiencing higher-quality and home-like vacations, which supported the growth of the vacation rental industry.
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Vacation Rental Market Scope
Vacation Rental Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global vacation rental market size, by region, 2017-2030 (US$M)
Top 10 countries: Vacation rental market size, 2023 (US$M)
Global vacation rental market share, by rental type, 2023 & 2030 (%, US$M)
Vacation rental market: Opportunity assessment by country
Global vacation rental market, by region, 2023 (US$M)
| Rental Type | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 19,886.6 | 20,404.6 | 20,955.9 | 14,472.8 | 17,787.0 | 19,593.8 | 21,076.7 | 22,461.5 | 23,757.9 | 24,750.3 | 25,586.6 | 26,246.7 | 26,714.3 | 27,109.6 | 3.7% |
| Europe | 29,339.8 | 30,043.2 | 30,791.8 | 21,221.8 | 26,026.6 | 28,609.5 | 30,708.6 | 32,655.2 | 34,464.0 | 35,823.8 | 36,950.6 | 37,817.4 | 38,402.2 | 38,879.4 | 3.4% |
| Asia Pacific | 22,130.9 | 23,101.4 | 24,134.2 | 16,952.7 | 21,188.2 | 23,733.8 | 25,957.3 | 28,122.7 | 30,237.1 | 32,017.1 | 33,638.6 | 35,065.7 | 36,265.4 | 37,391.8 | 5.4% |
| Latin America | 4,718.4 | 4,851.4 | 4,992.9 | 3,455.6 | 4,255.8 | 4,698.2 | 5,064.7 | 5,409.2 | 5,734.0 | 5,986.8 | 6,202.7 | 6,377.1 | 6,505.5 | 6,616.7 | 3.9% |
| MEA | 5,773.2 | 5,985.7 | 6,211.8 | 4,335.0 | 5,383.3 | 5,992.3 | 6,513.2 | 7,013.5 | 7,495.9 | 7,890.5 | 8,242.2 | 8,543.0 | 8,785.8 | 9,008.8 | 4.7% |
| Overall | 81,848.9 | 84,386.3 | 87,086.6 | 60,437.9 | 74,640.9 | 82,627.6 | 89,320.5 | 95,662.1 | 101,688.9 | 106,468.5 | 110,620.7 | 114,049.9 | 116,673.2 | 119,006.3 | 4.2% |
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