VACATION RENTAL MARKET ANALYSIS

Regional Analysis

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The U.S. has undisputedly emerged as the dominant market for vacation rentals, which is expected to account for over 35.7% share in 2024 of the global market. This can be attributed to high spending power of American travelers along with readily available options for renting temporary accommodations. Companies based out of major U.S. cities like New York and Los Angeles have established a strong presence in the sector catering to both domestic as well as international tourists. Additionally, the ease of access brought about by online platforms has made vacation rentals a preferred choice over hotels for many travelers in the U.S.

Countries like Thailand, Indonesia, and Vietnam in Southeast Asia have witnessed exponential growth in their vacation rental markets over the past few years, fuelled by the booming tourism industry in the region. Fast expanding middle class population, improving infrastructure, and digital connectivity have provided necessary support to the growth. Local property owners have quickly realized the opportunity and are actively listing their spaces on online rental platforms. Additionally, many global vacation rental brands have also started focusing on these emerging Southeast Asian countries recognizing their future potential. This has significantly added to inventory boosting options for travelers. Affordable rental prices along with an authentic local experience makes vacation rentals an attractive choice for many tourists visiting the Asia Pacific region.