Saudi Arabia Vacation Rental Market Size & Outlook
Saudi Arabia vacation rental market, 2017-2030 (US$M)
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Saudi Arabia vacation rental market highlights
- The Saudi Arabia vacation rental market generated a revenue of USD 634.6 million in 2023 and is expected to reach USD 923.4 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 5.5% 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 634.6 million |
| Market revenue in 2030 | USD 923.4 million |
| Growth rate | 5.5% (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, Saudi Arabia accounted for 0.7% 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 Middle East & Africa, Saudi Arabia vacation rental market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 923.4 million by 2030.
Home was the largest segment with a revenue share of 50.05% in 2023. Horizon Databook has segmented the Saudi Arabia vacation rental market based on home, apartments, resort/condominium covering the revenue growth of each sub-segment from 2017 to 2030.
Saudi Arabia is an emerging market for vacation rental. With the growing tourism and hospitality industries, the country offers huge potential for vacation rental. As a result, leading companies like Airbnb have entered Saudi Arabia to grasp the growth opportunities available in this untapped market.
Saudi Arabia’s tourism and hospitality industry has suffered severely due to the COVID-19 pandemic and the government is supporting the industry to recover. The industry has been focusing on domestic tourism for the initial recovery of the disruption caused by the coronavirus.
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Vacation Rental Market Scope
Vacation Rental Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia vacation rental market size, by rental type, 2017-2030 (US$M)
Saudi Arabia Vacation Rental Market Outlook Share, 2023 & 2030 (US$M)
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