Key regions: India, Vietnam, Saudi Arabia, Singapore, Germany
The Vacation Rentals market in Egypt has been experiencing significant growth and development in recent years.
Customer preferences: Travelers in Egypt are increasingly seeking unique and authentic experiences, which has led to a rise in demand for vacation rentals over traditional hotel stays. Tourists are looking for accommodations that offer a more personalized and local experience, allowing them to immerse themselves in the culture and lifestyle of the destination.
Trends in the market: One of the notable trends in the Vacation Rentals market in Egypt is the increasing popularity of booking platforms and online marketplaces, which have made it easier for property owners to list their rentals and for travelers to find and book accommodations. This trend has significantly expanded the market and provided more options for consumers.
Local special circumstances: Egypt's rich history, diverse landscapes, and iconic landmarks such as the Pyramids of Giza and the Nile River make it a popular tourist destination. The country's warm climate and beautiful beaches also attract a large number of visitors, leading to a high demand for vacation rentals in coastal areas and resort towns.
Underlying macroeconomic factors: The growth of the Vacation Rentals market in Egypt can be attributed to various macroeconomic factors, including the increasing disposable income of the middle class, a growing tourism industry, and government initiatives to promote the country as a travel destination. Additionally, the flexibility and cost-effectiveness of vacation rentals compared to traditional hotels have contributed to the market's expansion.
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.
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