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Balcony of a holiday home on the Costa del Sol. SUR
Andalucía, Europe's favourite holiday rental destination
Tourism

Andalucía, Europe's favourite holiday rental destination

The news comes ahead of the Vitur-Summit forum in Malaga on 7 and 8 May, when over 700 leaders of companies, administrations and European institutions will meet to address the present and future of the sector

Pilar Martínez

Malaga

Monday, 6 May 2024, 16:02

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Andalucía leads the ranking of top destinations for holiday rentals Europe, in which Spain is number one. The region exceeded seven million overnight stays in holiday homes during the first half of 2022 according to data from Vitur-Summit (the last available).

The forum will meet in Malaga on 7 and 8 May, when over 700 leaders of companies, administrations and European institutions will meet to address the present and future of the sector.

This same source points out that of the total housing stock in Andalucía, only 1.5% is destined for tourist rental, that is, more than 70,000 properties, with 75% of this business concentrated in teh region's towns and almost 40% in municipalities of less than 50,000 inhabitants, as well in the coastal towns and cities.

Organisers of the event, which is being hosted by the Andalusian Tourist Housing Association (AVVA-Pro), emphasise that the growth of this sector has been in line with the growth of tourist demand. "The global holiday rental market will reach 300 billion euros in 2031 with an annual growth rate of 12.4%," they said.

They added that "in 2022 alone nearly 4.5 million visitors stayed in apartments and holiday homes in Andalucía, bringing in more than 4.2 billion euros. The majority were national tourists, closely followed by international tourists".

They also detail that "the impact of holiday accommodation in Spain is more than 20 billion euros and Andalucía, with almost 20%, generates the largest contribution in the country in this type of accommodation".

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