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Key regions: Vietnam, United States, United Kingdom, Indonesia, Malaysia
The Vacation Rentals market in Kazakhstan is experiencing a significant growth trajectory, driven by various factors that cater to the evolving preferences of travelers and the local market dynamics.
Customer preferences: Travelers in Kazakhstan are increasingly seeking unique and personalized accommodation experiences, moving away from traditional hotels towards vacation rentals. This shift is fueled by a desire for more space, privacy, and a home-like environment during their stays. Additionally, the flexibility and cost-effectiveness of vacation rentals appeal to budget-conscious travelers and those looking for longer-term stays.
Trends in the market: One notable trend in the Vacation Rentals market in Kazakhstan is the rise of online platforms that connect property owners with potential guests, making it easier for both parties to engage in short-term rental agreements. This digitalization of the market has significantly expanded the options available to travelers and has contributed to the overall growth of the vacation rental sector in the country. Furthermore, the increasing popularity of domestic tourism is driving demand for vacation rentals in various regions of Kazakhstan, beyond major cities.
Local special circumstances: Kazakhstan's unique geographical features and diverse cultural attractions play a crucial role in shaping the Vacation Rentals market in the country. The demand for vacation rentals varies across regions, with properties in popular tourist destinations or areas with natural beauty experiencing higher occupancy rates. Additionally, the growing popularity of events and festivals in Kazakhstan is boosting the demand for short-term rental accommodations, especially during peak seasons.
Underlying macroeconomic factors: The economic stability and steady growth of Kazakhstan's tourism industry are key macroeconomic factors influencing the Vacation Rentals market. As the country continues to invest in infrastructure development and promote tourism initiatives, the market for vacation rentals is expected to expand further. Moreover, the increasing disposable income of the middle-class population in Kazakhstan is contributing to the rise in domestic travel and the demand for alternative accommodation options like vacation rentals.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)