Asia Pacific Vacation Rental Market Size & Outlook
Asia Pacific vacation rental market, 2017-2030 (US$M)
Related Markets
Asia Pacific vacation rental market highlights
- The Asia Pacific vacation rental market generated a revenue of USD 25,957.3 million in 2023.
- The market is expected to grow at a CAGR of 5.4% from 2024 to 2030.
- In terms of segment, home was the largest revenue generating rental type in 2023.
- Resort/Condominium is the most lucrative rental type segment registering the fastest growth during the forecast period.
- Country-wise, Australia is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 25,957.3 million |
| Market revenue in 2030 | USD 37,391.8 million |
| Growth rate | 5.4% (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 |
| Key market players worldwide | Airbnb Inc Ordinary Shares - Class A, Booking Holdings Inc, Expedia Group Inc, MakeMyTrip Ltd, Tripadvisor Inc, Wyndham Destinations, 9flats, Hotelplan Group, Novasol, OYO |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 29.1% of the global vacation rental market in 2023.
- Globally, Europe 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 37,391.8 million by 2030.
Home was the largest segment with a revenue share of 47.39% in 2023. Horizon Databook has segmented the Asia Pacific vacation rental market based on home, apartments, resort/condominium covering the revenue growth of each sub-segment from 2017 to 2030.
Asia Pacific is estimated to be the fastest-growing regional market for vacation rental. The growth is mainly attributed to the rising expenditure of consumers on traveling and accommodation. China is a major contributor to the regional market growth and the country accounted for a share of over 40.0% in 2019.
According to the World Bank, the COVID-19 pandemic has caused a loss of around USD 50 billion in travel and tourism in South Asia. The tourist arrival number has declined dramatically in the region, especially in Indonesia, China, Vietnam, and Thailand in 2020.
However, the vacation rental market players have been incorporating new measures to adapt to the scenario during the pandemic. Higher cleanliness and hygiene standards, self-check-in system, and less dependency on international travelers are among the key trends of the industry.
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Vacation Rental Market Scope
Vacation Rental Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific vacation rental market size, by country, 2017-2030 (US$M)
Asia Pacific Vacation Rental Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
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