Vacation Rentals - Togo
Togo- Revenue in the Vacation Rentals market is projected to reach US$*****m in ****.
- Revenue is expected to show an annual growth rate (CAGR *********) of ****%, resulting in a projected market volume of US$*****m by ****.
- In the Vacation Rentals market market, the number of users is expected to amount to ******k users by ****.
- The average revenue per user (ARPU) is expected to amount to US$******.
- Key regions:
- India,
- Vietnam,
- Saudi Arabia,
- Singapore,
- Germany
Definition:
The Travel & Tourism market encompasses a diverse range of accommodation services catering to the needs and preferences of leisure and business travelers. It includes hotel establishments, vacation rentals, and camping grounds. The data shown across these three market segments specifically focuses on inbound tourists, namely non-resident visitors arriving in the economy of reference from abroad.
Structure:
The Travel & Tourism market consists of three main segments:
- Hotels: this market segment shows data for hotels, motels, and similar accommodation establishments.
- Vacation Rentals: this market segment focuses on short-term rental accommodation services, such as holiday homes and apartments listed on platforms like Airbnb, Booking.com, or Expedia.
- Camping: this market segment provides figures on camping grounds, recreational vehicle parks, and trailer parks.
Additional Information:
The main performance indicators of the Travel & Tourism market are revenue, users, and average revenue per user (ARPU). In the context of the Travel & Tourism market, the user indicator specifically refers to inbound tourist arrivals in accommodation services. Revenue shows the total expenditure of international tourists on each of the considered accommodation segments, while ARPU indicates the average revenue per inbound tourist arrival. All data related to these three indicators refers to international tourists, namely visitors coming from abroad who stayed for at least one night in an accommodation establishment.
Leading players in the Travel & Tourism market include online travel agencies (OTAs) like Booking Holdings, Expedia Group, Airbnb, and Trip.com, as well as travel agencies and tour operators such as TUI AG, Jet2 plc, and Flight Centre Travel Group.
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- Inbound tourism arrivals and inbound tourism spending (i.e., visitor exports) on accommodation services by leisure and business tourists
- Domestic and outbound tourism activities
- Same-day travelers/excursionists (i.e., travelers who did not stay overnight)
Revenue
Sales Channels
Analyst Opinion
Over the past 20 years, the vacation rental market has grown significantly, with such accommodation services now representing the main alternative to hotels and similar establishments. Driven by the rise of online platforms like Airbnb and Vrbo, short-term rentals are commonly favored for their unique locations, the flexibility and comfort of their spaces, as well as their competitive pricing. Often booked for longer stays, vacation rentals saw growing popularity after the pandemic. Although the market attracted regulatory backlash and residents' protests, it has entered a new phase of stability.
Nowadays, all major online travel agencies (OTAs) list short-term rentals, but Airbnb's dominance is still undisputed. That said, the company ceased operations in China and Russia. While both of these markets have local operators focusing on vacation rentals, due to strict regulations and language barriers, these accommodation services in those countries cater more to domestic visitors than to inbound travelers.
Users
Global Comparison
Methodology
Data coverage:
Figures refer to international tourism arrivals and international tourism spending at hotels, vacation rentals, and camping grounds. Data includes leisure and business travelers.Modeling approach:
The Travel & Tourism market is modeled based on a hybrid approach. For the user indicator, figures are derived from inbound tourism arrivals data by UN Tourism, Eurostat, national statistics offices, and national tourist boards, as well as third-party studies and reports exploring key performance indicators across different types of accommodation services. Meanwhile, revenue is estimated based on figures on visitor exports by the World Travel and Tourism Council (WTTC) and inbound tourism consumption data from available Tourism Satellite Accounts (TSA). Average revenue per user is then calculated from the user and revenue indicators.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of the forecasting techniques is based on the behavior of the relevant market. For example, a k-means cluster analysis allows for the estimation of similar countries. Additionally, a compound annual growth rate (CAGR) forecast is applied. The main drivers are visitor exports and inbound tourism arrivals data by WTTC.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year should market dynamics change. The impact of the U.S.-Israel war with Iran is considered at a country-specific level.Mobility
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