Latin America Vacation Rental Market Size & Outlook
Latin America vacation rental market, 2017-2030 (US$M)
Related Markets
Latin America vacation rental market highlights
- The Latin America vacation rental market generated a revenue of USD 5,064.7 million in 2023.
- The market is expected to grow at a CAGR of 3.9% 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 5,064.7 million |
| Market revenue in 2030 | USD 6,616.7 million |
| Growth rate | 3.9% (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, Latin America region accounted for 5.7% 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 44.94% in 2023. Horizon Databook has segmented the Latin America vacation rental market based on home, apartments, resort/condominium covering the revenue growth of each sub-segment from 2017 to 2030.
The tourism industry is one of the most valuable contributors to job creation, economic development, and foreign exchange generation in this region. According to the World Travel and Tourism Council (WTTC), this region ranks fourth in the list of the most crucial touristic region in the world. Brazil, Colombia, Peru, Chile, and Argentina are the key markets in this region.
The COVID-19 outbreak has caused a major decline in tourism activity across Central & South America. However, since the pandemic hit the region in March, visitor arrival fell by over 50% in March and nearly 100% in April in the region.
As per the World Travel and Tourism Council (WTTC), the travel and tourism industry contribute 10.2% of the GDP in the region. In some nations, such as Jamaica, the tourism industry accounts for a much bigger percentage share of the GDP. Thus, this current decline is adversely affecting the economies that are heavily reliant on tourism.
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Vacation Rental Market Scope
Vacation Rental Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America vacation rental market size, by country, 2017-2030 (US$M)
Latin America Vacation Rental Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
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