China Vacation Rental Market Size & Outlook, 2023-2030
China vacation rental market, 2017-2030 (US$M)
Related Markets
China vacation rental market highlights
- The China vacation rental market generated a revenue of USD 11,369.1 million in 2023 and is expected to reach USD 16,897.3 million by 2030.
- The China market is expected to grow at a CAGR of 5.8% 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.
Vacation rental market data book summary
| Market revenue in 2023 | USD 11,369.1 million |
| Market revenue in 2030 | USD 16,897.3 million |
| Growth rate | 5.8% (CAGR from 2023 to 2030) |
| Largest segment | Home |
| Fastest growing segment | Resort/Condominium |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 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, China accounted for 12.7% of the global vacation rental market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China vacation rental market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 5,451.7 million by 2030.
Home was the largest segment with a revenue share of 47.93% in 2023. Horizon Databook has segmented the China vacation rental market based on home, apartments, resort/condominium covering the revenue growth of each sub-segment from 2017 to 2030.
The increasing number of middle- and high-income consumers, rising popularity of homestays, and supportive policies are boosting the growth of the market in the country. Companies have been offering personalized and high-quality services to attract consumers, particularly millennials.
In Beijing alone, more than 13,500 tour packages, accounting for 242,000 visitors, have been cancelled. Around 130 countries over the world have barred the entry of Chinese citizens. However, in spite of these challenges, the industry is expected to recover gradually.
Cities such as Chongqing, Changsha, Chengdu, Hangzhou, Sanya, Huzhou, and Qingdao have witnessed a robust recovery from June 2020. The number of local trips within 330 kilometers has increased significantly in 2020.
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Vacation Rental Market Scope
Vacation Rental Market Companies
| Name | Profile | # Employees | HQ | Website |
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China vacation rental market size, by rental type, 2017-2030 (US$M)
China Vacation Rental Market Outlook Share, 2023 & 2030 (US$M)
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