Key regions: India, Vietnam, Saudi Arabia, Singapore, Germany
The Vacation Rentals market in Tunisia is experiencing a significant growth trajectory driven by various factors.
Customer preferences: Travelers in Tunisia are increasingly seeking unique and authentic experiences, leading to a rise in demand for vacation rentals over traditional hotel accommodations. Visitors are looking for more spacious and private accommodations that offer a home-like environment during their stay.
Trends in the market: One notable trend in the Tunisian vacation rental market is the increasing popularity of coastal properties, particularly in cities like Hammamet and Sousse. These beachfront rentals are in high demand among both domestic and international tourists, driving growth in this segment. Additionally, the rise of digital platforms and online booking services has made it easier for property owners to list their rentals and for travelers to find and book accommodations, contributing to the overall market expansion.
Local special circumstances: Tunisia's diverse landscape, which includes beautiful beaches, historical sites, and vibrant cities, offers a wide range of vacation rental options to cater to different preferences. The country's rich cultural heritage and warm hospitality also attract visitors looking for immersive travel experiences, further fueling the demand for vacation rentals.
Underlying macroeconomic factors: The Tunisian government's efforts to promote tourism and improve infrastructure have played a crucial role in boosting the vacation rental market. Investments in transportation, hospitality, and tourism facilities have enhanced the overall travel experience in the country, making it a more attractive destination for both leisure and business travelers. Additionally, favorable exchange rates and competitive pricing compared to other Mediterranean destinations have made Tunisia a cost-effective option for travelers, driving demand for vacation rentals.
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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