Around 719 million overnight stays in short-term rentals in Europe, through the 4 online platforms working with the EU, were recorded by Eurostat in 2023. According to the revised data analysed this month (July 2024), the number of overnight stays is up by 20.5% compared to 2022. The data is evidence that the “season” has extended to almost the entire year when it comes to short-term rentals in Europe. Bookings from the main 4 OTAs (Airbnb, Booking, Expedia Group/VRBO, and Trip Advisor) recorded double digit growth in each month of Q4 2023. In particular:
- In October there were 55.3 million overnight stays, an increase of 21.8% compared to October 2022.
- In November, this number reached 31.8 million overnight stays (+19.9% compared to November 2022) and
- In December, the number was 45.3 million (+25.8% compared to December 2022).
Q4 of 2022 was a record three months as we saw the industry bounce back and the total number of overnight stays in short term rentals exceeded pre-Covid19 numbers. However, Q4 of 2023 exceeded that again, totalling 132.4 million overnight stays booked, representing a 22.7% increase across the platforms YoY.
The performance of short-term rental in Greece
Greece has performed well as one of Europe´s top holiday destinations yet again. The 2023 quarterly platform performance data shows:
In the first quarter of 2023 there were 1,859,432 overnight stays, that´s a +43.1% increase compared to the same quarter of 2022.
In the second quarter, overnight stays amounted to 9,390,416, representing a +25.1% increase compared to the second quarter of 2022.
In the third quarter, 22,853,792 nights were recorded, which was a +17.5% increase.
And in the fourth quarter there was a +28.2% increase, with 4,342,678 overnight stay.
Performance in Europe in 2023
Q4 2023, growth rates across EU Member States ranged from 8.7% in Croatia to 51.9% in Malta.
Spain, France and Italy were the most popular destination countries in Q4 2023, with growth rates of 28.2%, 18.4% and 27.5% respectively.
In Q3 of 2023, EU growth averaged 13.8%, with country-by-country rates ranging from 7.5% in the Netherlands to 39.5% in Malta.
Q2 2023, the EU growth average was 25%, with countries’ growth rates ranging from 14.3% in Bulgaria to 47.5% in Malta.
In Q1 of 2023, the overall EU growth rate was 33.9%, ranging from 12.7% in Estonia to 68.4% in Malta.
The most popular areas for short-term rental accommodation, based on bookings through online platforms in Q3 2023, were Jadranska Hrvatska in Croatia (23.8 million night stays), Andalucia in Spain (14.0 million night stays) and the French Provence-Alpes-Côte d’Azur (12.4 million overnight stays).
In the first 20 regions, 6 were in France, 5 in Spain and Italy, 2 in Greece and 1 region each in Croatia and Portugal.
Ακολουθήστε μας στο Google News και μάθετε πρώτοι όλες τις ειδήσεις!
