The New Tourism – Why the outlook looks bright for vacation rentals

No doubt, one of the casualties of the Covid-19 pandemic has been the tourism industry. General uncertainty, closed borders, and ever-changing rules across the globe have put paid to many holidays in the past 12 months. 

However, there is most certainly an appetite from many to get back to vacationing. A survey carried out by IBT and Statista, which asked questions of individuals from Germany, The US and China, has revealed that around 70% of respondents say that they are considering private trips this year.

Safety is priority

According to the survey, perceived personal safety on a trip weighs more heavily than travel choices being restricted. 

50% of Germans not planning to travel in 2021 say they feel uneasy about taking trips during the coronavirus pandemic. In the US, the corresponding figure is 34%. In comparison, only 23% of German respondents and 21% of Americans state travel restrictions regarding their reason for staying at home. 

This indication of perceived safety being a priority is potentially good news for holiday homeowners. When individuals choose to stay in a self-contained apartment or Condo, they control their environment far more than at a large hotel or resort. 

Even in places with communal facilities, a family choosing to stay in a holiday home has options for choosing to stay in or eat out. They also have the option to make use of communal pools and local beaches or instead use private facilities such as balconies, terraces and private spaces.

Pent up demand

With so many trips cancelled in 2020, there is a genuine desire from many to have some type of vacation as soon as it is possible to do so safely. A survey revealed that 56% of UK adults have had to rebook holidays from 2020 and more than a third think that their mental health has been affected by either not having a holiday or the uncertainly around existing bookings.

Domestic Travel 

While the demand for a break is rising in almost every country across the world, there are many conflicting desires when it comes to choosing to travel overseas or stay at home. 

A survey undertaken by Skyscanner in the US suggests that 85% of Americans believe it will be safe to fly domestically by this fall, and 74% think an international flight will be OK.

While in the UK, uncertainty around international travel has seen the demand for private holiday homes soar. 

And again, this is good news for those with holiday homes in popular areas as demand soars on sites such as Airbnb and for private homes on holiday let platforms. 

While travel may be looking a little different in the immediate future – one thing is for sure – holiday rentals are likely to be one of the quickest parts of the sectors to bounce back.

SHARE:

Want to know more? Get in touch ...