Middle East & Africa Vacation Rental Market Size & Outlook
Middle East & Africa vacation rental market, 2017-2030 (US$M)
Related Markets
MEA vacation rental market highlights
- The MEA vacation rental market generated a revenue of USD 6,513.2 million in 2023.
- The market is expected to grow at a CAGR of 4.7% 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, Saudi Arabia is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 6,513.2 million |
| Market revenue in 2030 | USD 9,008.8 million |
| Growth rate | 4.7% (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, MEA region accounted for 7.3% 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 46.29% in 2023. Horizon Databook has segmented the Middle East & Africa vacation rental market based on home, apartments, resort/condominium covering the revenue growth of each sub-segment from 2017 to 2030.
High spending power and growing consumer preference for family vacations have propelled the demand for vacation rentals in the region. The concept of vacation rental has become popular across the region, with a significant number of travelers opting for alternatives to traditional hotels.
Airbnb and HomeAway are among the leading companies in this regional market. Dubai, Cairo, Abu Dhabi, and Riyadh are the key markets in this region. In addition, Africa is gradually becoming a favored destination for international travelers seeking sunny beaches, national parks, ecotourism products, and exotic culture and food.
As per the United Nations World Tourism Organization, 71.2 million international travelers who arrived in Africa in 2019 accounted for USD 40 billion in revenue. However, from January to April 2020, the number of arrivals decreased by 35% in the region and impacted tourism-dependent countries like Egypt, Gambia, Kenya, and South Africa.
Key Regions: U.S. , UK , Japan , Brazil , Saudi Arabia
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Vacation Rental Market Scope
Vacation Rental Market Companies
| Name | Profile | # Employees | HQ | Website |
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MEA vacation rental market size, by country, 2017-2030 (US$M)
Middle East & Africa Vacation Rental Market Outlook Share, 2023 & 2030 (US$M)
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