Vacation Rentals - Europe
Europe- Europe is projected to generate a revenue of US$35.29bn in the Vacation Rentals market by 2025.
- The market is expected to grow annually with a rate of 3.27% until 2029, resulting in a projected market volume of US$40.13bn.
- The number of users in this market is expected to reach 230.74m users by 2029, with a user penetration of 25.3% in 2025, which is likely to increase to 27.4% by 2029.
- The average revenue per user (ARPU) is expected to amount to US$165.52.
- In 2029, 80% of the total revenue in the Vacation Rentals market will be generated through online sales.
- In comparison to other countries, United States is projected to generate the highest revenue of US$21bn in 2025.
- In Spain, vacation rental demand remains high due to the popularity of coastal destinations like Costa del Sol and the Balearic Islands.
- Key regions:
- India,
- Vietnam,
- Saudi Arabia,
- Singapore,
- Germany
Definition:
The Vacation Rentals market comprises of private accommodation bookings. This includes private holiday homes and houses, e.g., HomeAway, as well as short-term rental of private rooms or flats via portals such as Airbnb, in travel agencies or by telephone.Additional Information:
The main performance indicators of the Vacation Rentals market are revenues, average revenue per user (ARPU), users and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues. Users represent the aggregated number of guests. Each user is only counted once per year.
The booking volume includes all booked travels made by users from the selected region, independent of the departure and arrival. The scope includes domestic and outbound travel.
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- Short-term rental of private rooms or flats via portals such as Airbnb or telephone
- Hotels and professionally-run accommodation such as guest houses
Revenue
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Sales Channels
Analyst Opinion
The Vacation Rentals market in Europe has been experiencing significant growth and transformation in recent years.
Customer preferences: Travelers in Europe are increasingly looking for unique and authentic experiences, which has boosted the demand for vacation rentals over traditional hotels. Customers are seeking more space, privacy, and flexibility during their stays, leading to a rise in bookings for vacation rental properties.
Trends in the market: In popular tourist destinations like Spain and Italy, there has been a surge in the number of vacation rental properties as homeowners capitalize on the growing demand from tourists. Additionally, the rise of online booking platforms has made it easier for property owners to list their rentals and for travelers to find accommodation that suits their preferences.
Local special circumstances: Countries like France and Greece have implemented regulations to control the growth of vacation rentals and protect the local housing market. In cities such as Paris and Amsterdam, restrictions have been put in place to limit the number of days a property can be rented out to tourists, aiming to preserve affordable housing for residents.
Underlying macroeconomic factors: The strong performance of the tourism industry in Europe has had a positive impact on the vacation rentals market, with more travelers choosing to stay in rental properties for a more personalized experience. Additionally, the increasing popularity of remote work has allowed people to travel for longer periods, leading to a higher demand for vacation rentals as temporary homes.
Users
Most recent update: Jul 2024
Source: Statista Market Insights
Global Comparison
Most recent update: Jul 2024
Source: Statista Market Insights
Methodology
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of vacation rentals.Modeling approach:
Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.Mobility
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Key Market Indicators
Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Jan 2025
Source: Statista Market Insights
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