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HOME GROWN Private Rentals House 10% Of Tourists

Monday July 18, 2016

HOME GROWN Private Rentals House 10% Of Tourists

A new report which quantifies the significance of the private holday rentals sector in the Canary Islands has jut been released by the Canarian Government and Promotur.

The report reveals that this largely unregulated market accounted for 9.64% of all accommodation booked in the archipelago during the course of 2014, providing beds for over 1.2 million tourists. With local government estimating that around 28,000 homes in the Canaries are available for holiday rental, generating a total tourist spend, both pre depature and in resort, of over 528 million euros.

The report further reveals how demand for privately rented accommodation has grown by 16.5% since 2010, largely at the expense of apartment complexes, where demand has fallen by over 19% on Lanzarote over the same period. With HomeAway and AirBnB together accounting for 50% of all beds booked in the Canarian holiday home sector.

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