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Startup Trip101 expects an 84% jump in vacation rentals bookings in Asia

Singapore

Global travel media startup Trip101, which curates and recommends the world’s best vacation rentals and hotels, reports that its last 4 years’ booking numbers suggest the popularity of vacation rentals among travelers visiting Asian countries is predicted to increase in the foreseeable future, with an 84% jump in 2023 from 2022.

In line with travelers’ preferences, Asia, along with the US, also showcased a growing trend for the average number of nights booked by guests on vacation rentals. The numbers increased 20% by 0.5, from about 2.5 nights to 3.

Following US and Europe’s footsteps, the average booking value in Asia saw a 20% increase as well, from pre- to post-pandemic years. This trend looks promising as it implies people are willing to spend more for longer stays and enhanced experiences.

The pandemic catalyzed a significant shift in lifestyle and travel preferences by enabling remote work. People now have the freedom to work from anywhere, empowering them to embrace a more flexible travel style, combining work with leisure and exploring new destinations while maintaining professional commitments, and thus giving rise to new travel trends like workation, leisure travels, and digital nomadism.

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