Short-term Rental Market Size
Market Outlook:
Short-term Rental Market exceeded USD 113.43 Billion in 2023 and is expected to cross USD 290.16 Billion by end of the year 2032, witnessing more than 11% CAGR between 2024 and 2032.
Base Year Value (2023)
USD 113.43 Billion
CAGR (2024-2032)
11%
Forecast Year Value (2032)
USD 290.16 Billion
Historical Data Period
2019-2023
Largest Region
North America
Forecast Period
2024-2032
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Market Dynamics:
Growth Drivers & Opportunity:
The short-term rental market is experiencing significant growth due to the increasing popularity of online travel booking platforms, which have made it easier for travelers to find and book accommodations. Additionally, the rise of the sharing economy has encouraged more individuals to rent out their properties on a short-term basis, boosting the supply of rental properties available. Moreover, the growing preference for unique and authentic travel experiences has fueled the demand for short-term rentals, as they often provide a more personalized and local experience compared to traditional hotels.
Industry
Report Scope
| Report Coverage | Details |
|---|---|
| Segments Covered | Accommodation Type, Booking Mode |
| Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
| Company Profiled | 9flats.com PTE., Airbnb,, Booking Holdings, Expedia Group,, Hotelplan Management AG, MakeMyTrip Pvt.., NOVASOL A/S, Oravel Stays Private Limited, Tripadvisor,, Wyndham Destinations,, |
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Despite the growth opportunities in the short-term rental market, there are also several restraints that have the potential to hinder its growth. A significant restraint is the regulatory challenges faced by short-term rental hosts and platforms in many cities and regions. Local governments have imposed restrictions on short-term rentals in response to concerns about neighborhood disruptions, housing affordability, and tax compliance. Additionally, the lack of standardized quality control and consistency in short-term rentals can be a deterrent for some travelers, as they may be unsure about the level of cleanliness, safety, and amenities provided in rental properties.
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