Key regions: Vietnam, United States, United Kingdom, Indonesia, Malaysia
The Vacation Rentals market in South Africa has been experiencing a significant growth in recent years, attracting both domestic and international travelers looking for unique accommodation options.
Customer preferences: Travelers in South Africa are increasingly seeking authentic and immersive experiences, opting for vacation rentals that offer a more personalized stay compared to traditional hotels. The demand for vacation rentals is being driven by customers looking for spacious accommodations, privacy, and the ability to live like a local during their stay.
Trends in the market: One of the prominent trends in the South African vacation rentals market is the rise of eco-friendly and sustainable properties. Travelers are showing a preference for environmentally conscious accommodation options, leading to an increase in eco-friendly vacation rentals across the country. Additionally, the integration of technology in vacation rental platforms has made it easier for travelers to discover and book unique properties in South Africa.
Local special circumstances: South Africa's diverse landscape and rich cultural heritage make it an attractive destination for travelers seeking a variety of experiences. From beachfront villas in Cape Town to safari lodges in Kruger National Park, the country offers a wide range of vacation rental options to cater to different preferences. The presence of unique and luxurious properties, coupled with warm hospitality, contributes to the growing popularity of vacation rentals in South Africa.
Underlying macroeconomic factors: The growth of the vacation rentals market in South Africa can also be attributed to the country's overall economic development and increasing tourism industry. As more travelers visit South Africa for leisure and business purposes, the demand for alternative accommodation options like vacation rentals continues to rise. Additionally, the government's efforts to promote tourism and improve infrastructure have created a favorable environment for the expansion of the vacation rentals market in the country.
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)
