Vacation Rentals - Australia

  • Australia
  • Australia is expected to witness a promising growth in the Vacation Rentals market.
  • By 2024, the projected revenue for this market is estimated to reach US$1.47bn in Australia.
  • Moreover, this industry is expected to show an annual growth rate of 1.17% (CAGR 2024-2028) resulting in a projected market volume of US$1.54bn by 2028.
  • The number of users in the Vacation Rentals market is anticipated to reach 6.84m users by 2028.
  • In 2024, the user penetration rate is expected to be 24.5%, which is projected to hit 24.7% by 2028.
  • The average revenue per user (ARPU) is expected to be US$224.40.
  • Furthermore, it is expected that 90% of the total revenue generated in the Vacation Rentals market in Australia will be through online sales by 2028.
  • It is interesting to note that in global comparison, United States is projected to generate the most revenue in this industry, with an estimated revenue of US$19,770m in 2024.
  • Nonetheless, the Vacation Rentals market in Australia is showing a promising growth and is expected to contribute significantly to the overall revenue generated in this industry.
  • Australia's Vacation Rentals market is seeing a rise in popularity, with more travelers opting for unique stays in beachside bungalows and rural retreats.

Key regions: Vietnam, Malaysia, Indonesia, Germany, United Kingdom

 
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Analyst Opinion

Vacation RentalsĀ are becoming increasingly popular. Rooms, apartments or vacation homes can often be rented at very short notice, which increasingly represents an attractive accommodation alternative for tourists, especially from the USA and Europe.

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.

Overview

  • Revenue
  • Sales Channels
  • Analyst Opinion
  • Users
  • User Demographics
  • Global Comparison
  • Methodology
  • Key Market Indicators
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