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Vacation Rentals - Austria

Austria
  • By 2024, it is predicted that the revenue in Austria's Vacation Rentals market will reach US$645.30m.
  • The market is expected to exhibit an annual growth rate of 3.90%, resulting in a projected market size of US$781.10m by 2029.
  • In Austria's Vacation Rentals market, the number of users is predicted to rise to 2.69m users by 2029.
  • The user penetration rate is expected to increase from 27.0% in 2024 to 29.8% by 2029.
  • The average revenue per user (ARPU) is expected to be US$266.10.
  • By 2029, online sales are expected to generate 88% of the total revenue in Austria's Vacation Rentals market.
  • It is noteworthy that United States will have the highest revenue in the Vacation Rentals market worldwide, amounting to US$20bn in 2024.
  • Austria's Vacation Rentals market is seeing an increase in demand for mountain chalets and ski resorts, driven by the country's reputation as a winter sports destination.

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.

For further information on the data displayed, refer to the info button right next to each box.

In-Scope

  • Short-term rental of private rooms or flats via portals such as Airbnb or telephone

Out-Of-Scope

  • Hotels and professionally-run accommodation such as guest houses
Vacation Rentals: market data & analysis - Cover

Market Insights report

Vacation Rentals: market data & analysis

Study Details

    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

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Analyst Opinion

    Amidst the stunning Alpine landscapes and rich cultural heritage of Austria, the Vacation Rentals market is experiencing a notable surge in popularity.

    Customer preferences:
    Travelers in Austria are increasingly seeking unique and authentic experiences, driving the demand for vacation rentals that offer a more personalized and immersive stay. This shift in preferences is fueled by a desire to explore off-the-beaten-path destinations and engage with local communities.

    Trends in the market:
    One prominent trend in the Austrian Vacation Rentals market is the rise of eco-friendly and sustainable properties. Travelers are showing a growing interest in environmentally conscious accommodation options, leading to an increase in eco-friendly vacation rentals across the country. Additionally, the integration of smart home technology and amenities in vacation rentals is becoming more common, enhancing the overall guest experience.

    Local special circumstances:
    Austria's strong tradition of hospitality and emphasis on quality service play a significant role in shaping the Vacation Rentals market. The country's reputation for exceptional customer service and attention to detail has translated into the vacation rental sector, with hosts often going above and beyond to ensure guests have a memorable stay. Furthermore, the diverse range of vacation rental options available in Austria, from charming chalets in the mountains to elegant apartments in historic cities, caters to a wide array of traveler preferences.

    Underlying macroeconomic factors:
    The steady growth of Austria's tourism industry, coupled with increasing disposable incomes and a growing preference for experiential travel, are key macroeconomic factors driving the expansion of the Vacation Rentals market. As more travelers prioritize unique and authentic experiences, the demand for vacation rentals in Austria is expected to continue to rise. Additionally, the country's stable economy and strong infrastructure make it an attractive destination for both domestic and international tourists seeking high-quality accommodation options.

    Users

    Most recent update: Jul 2024

    Source: Statista Market Insights

    User Demographics

    Most recent update: Mar 2024

    Sources: Statista Market Insights, Statista Consumer Insights Global

    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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    Vacation Rentals: market data & analysis - BackgroundVacation Rentals: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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