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1 Market overview
1.1 Definition and presentation
Seasonal rental refers to the rental of accommodation during short periods (by days or weeks). This has become an increasingly common practice thanks to the emergence of matchmaking platforms such as Airbnb and Booking, the two giants of the sector.
The vacation rental market is extremely closely linked to the tourism market as a whole. Consequently, the pandemic has had a massive negative impact on the market. Spain recorded a massive drop in tourist numbers in 2020, and to a lesser extent in 2021. Spain recorded 31.5 million foreign visitor arrivals in 2021, which accounts for a 63% decline compared to 2019's numbers. However, the sector is showing signs of very strong growth in 2022, thanks to a very large European clientele and an influx of tourists. While demand for tourism is strong, Spain is experiencing major supply problems, with a glaring shortage of seasonal workers. In fact, many Spanish people switched to other sectors in 2020. Lastly, while the fall of tourism has eased social tensions in the short-term rental sector by mechanically reducing nuisances as demand falls, public authorities could implement more restrictive regulations. In Barcelona, for example, seasonal rentals are limited to only 1 month per year.
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the seasonal rental market | Spain
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