Key regions: India, Vietnam, Saudi Arabia, Singapore, Germany
The Vacation Rentals market in Japan has been experiencing a significant growth in recent years, driven by various factors that cater to the changing preferences of travelers and the unique characteristics of the local market.
Customer preferences: Travelers in Japan are increasingly looking for unique and authentic experiences, seeking accommodations that offer a more personalized and local touch. This shift in preferences has led to a rise in demand for vacation rentals, as they provide a more immersive experience compared to traditional hotels.
Trends in the market: One of the key trends in the Vacation Rentals market in Japan is the growing popularity of rural and off-the-beaten-path destinations. Travelers are now exploring lesser-known areas in Japan, driving demand for vacation rentals in these regions. Additionally, the rise of remote work has also contributed to the increase in demand for longer stays in vacation rentals, as more people are opting to work from different locations.
Local special circumstances: Japan's unique cultural heritage and natural beauty make it a desirable destination for travelers seeking a blend of tradition and modernity. The country's diverse landscapes, from bustling cities to serene countryside, offer a wide range of vacation rental options to suit different preferences. Furthermore, the Japanese hospitality culture, known for its attention to detail and exceptional service, enhances the overall experience for guests staying in vacation rentals.
Underlying macroeconomic factors: The steady growth of Japan's tourism industry, coupled with government initiatives to promote regional tourism and sustainable travel, has created a favorable environment for the Vacation Rentals market to thrive. Additionally, the increasing number of international visitors and the upcoming major events like the Olympics have further boosted the demand for alternative accommodations in Japan. As the market continues to evolve, stakeholders in the Vacation Rentals industry are adapting to meet the changing needs of travelers and capitalize on the growing opportunities in the Japanese market.
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)
