Vacation Rentals - Mauritius

Mauritius

Highlights

By 2024, the revenue for Mauritius' Vacation Rentals market is expected to hit US$11.72m.
In the succeeding years, the market is projected to grow at an annual growth rate (CAGR 2024-2029) of 3.79%, resulting in a projected market volume of US$14.11m by 2029.
The number of users in the Vacation Rentals market is expected to reach 176.50k users by 2029 with a user penetration of 11.4% in 2024 and is expected to increase to 13.5% by 2029.
The average revenue per user (ARPU) is expected to be US$78.90.
By 2029, 67% of the total revenue in Mauritius' Vacation Rentals market will be generated through online sales.
When compared globally, the highest revenue is expected to be generated United States, which is projected to reach US$20bn by 2024.
Mauritius' Vacation Rentals market is thriving due to its stunning beaches, rich culture, and luxurious accommodations.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Vacation Rentals market in Mauritius is experiencing a significant growth trajectory driven by various factors.

Customer preferences: Travelers in Mauritius are increasingly seeking unique and personalized accommodation options, leading to a rise in demand for vacation rentals. Visitors are looking for authentic experiences and local immersion, which vacation rentals can offer compared to traditional hotels.

Trends in the market: One notable trend in the Mauritius Vacation Rentals market is the increasing popularity of eco-friendly and sustainable properties. Travelers are showing a preference for accommodations that align with their values of environmental conservation and responsible tourism. This trend is in line with global movements towards sustainability in the travel industry.

Local special circumstances: Mauritius, known for its stunning beaches and natural beauty, attracts a diverse range of tourists including honeymooners, families, and adventure seekers. The island's unique blend of cultures, warm hospitality, and vibrant culinary scene contribute to its appeal as a vacation rental destination. Additionally, the government's initiatives to promote tourism and foreign investment have created a conducive environment for the growth of the vacation rentals market.

Underlying macroeconomic factors: The stable economic growth in Mauritius, coupled with increasing disposable incomes among the local population, has boosted domestic tourism and the demand for vacation rentals. Furthermore, the country's strategic location and well-developed infrastructure make it an attractive destination for international travelers, driving the growth of the vacation rentals 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.