Key regions: India, Vietnam, Saudi Arabia, Singapore, Germany
Switzerland, known for its picturesque landscapes and charming cities, has seen a significant growth in the Vacation Rentals market in recent years.
Customer preferences: Travelers in Switzerland are increasingly seeking unique and authentic experiences, opting for vacation rentals over traditional hotels. The desire for more space, privacy, and the opportunity to immerse oneself in the local culture are key factors driving this shift in preferences.
Trends in the market: One notable trend in the Swiss Vacation Rentals market is the rise of eco-friendly and sustainable properties. Travelers are showing a growing interest in environmentally conscious accommodation options, aligning with Switzerland's reputation for sustainability and innovation. Additionally, the increasing popularity of wellness retreats and outdoor activities has led to a surge in demand for vacation rentals in scenic locations such as the Swiss Alps and the Lake Geneva region.
Local special circumstances: Switzerland's strict regulations on short-term rentals have shaped the Vacation Rentals market in unique ways. With restrictions in place to preserve the local housing market and protect residents, property owners often face limitations on renting out their homes for short stays. This has led to a market dominated by professional property management companies and a focus on high-quality, compliant rental properties.
Underlying macroeconomic factors: The stability of Switzerland's economy and its strong currency have made it an attractive market for property investment, driving growth in the Vacation Rentals sector. Additionally, the country's reputation for safety and cleanliness makes it a desirable destination for international travelers, further fueling the demand for vacation rental properties. As Switzerland continues to position itself as a top travel destination, the Vacation Rentals market is expected to thrive in the coming years.
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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