Vacation Rentals - Angola

Angola

Highlights

Angola is expected to witness a rise in the revenue of the Vacation Rentals market, which is projected to reach US$229.20m by 2024.
Moreover, the market is forecasted to grow at an annual growth rate (CAGR 2024-2029) of 6.39%, leading to a projected market volume of US$312.50m by 2029.
As for the number of users in the Vacation Rentals market, it is expected to rise to 7.31m users by 2029.
In 2024, the user penetration rate is predicted to be 13.1% and likely to increase to 16.7% by 2029.
The average revenue per user (ARPU) is expected to reach US$46.14.
Furthermore, 55% of total revenue in the Vacation Rentals market will be generated through online sales by 2029.
Finally, in global comparison, United States is expected to generate the most revenue among all countries, with US$20bn projected revenue in 2024.
Despite a growing middle class, Angola's Vacation Rentals market remains largely undeveloped due to limited infrastructure and high costs.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Vacation Rentals market in Angola is experiencing a notable growth trajectory, driven by several key factors.

Customer preferences: Travelers in Angola are increasingly seeking unique and personalized accommodation options, moving away from traditional hotel stays. The rise of vacation rentals provides them with a more authentic and immersive experience, allowing them to live like a local during their stay. This shift in consumer preferences towards experiential travel is fueling the demand for vacation rentals in Angola.

Trends in the market: One prominent trend in the Angolan vacation rentals market is the growing popularity of coastal properties. With Angola's stunning coastline and beautiful beaches, properties located near the sea are in high demand among both domestic and international tourists. Additionally, there is a rising interest in eco-friendly and sustainable vacation rentals, reflecting a global trend towards responsible tourism.

Local special circumstances: Angola's unique blend of natural beauty, cultural heritage, and vibrant urban centers make it a compelling destination for travelers. The country's rich history, diverse landscapes, and warm hospitality attract a wide range of visitors, from adventure seekers to leisure travelers. This diversity in tourism offerings creates opportunities for a variety of vacation rental properties to cater to different preferences and interests.

Underlying macroeconomic factors: The growth of the vacation rentals market in Angola is also influenced by macroeconomic factors such as infrastructure development, government initiatives to promote tourism, and increasing disposable incomes among the population. As Angola continues to invest in its tourism sector and improve connectivity, more travelers are discovering the country's hidden gems and contributing to the expansion of the vacation rentals market. Additionally, the rise of digital platforms and online booking services has made it easier for property owners to list their rentals and for travelers to find and book accommodation, further driving the market growth.

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.