A new report has highlighted the economic importance of the holiday rental market in the Canary Islands…..

The report, which was commissioned by HomeAway and produced by the University of Salamanca in Spain reveals that rental homes in the archipelago have been booked for 42 million trips over the last two years. With foreign tourist party sizes averaging 2.9 people staying for a median period of 11.8 nights.

As a result, this activity has generated close to 54 million euros for holiday home owners in the Canaries and a further 37 million euros for ancillary businesses such as restaurants and excursion operators.

Holidaymakers booking breaks in the Canaries are also highly satisfied with the accommodation offered, awarding rental properties here 4.3 out of 5, a figure that is way ahead of the national average. Whilst over 80% of these visitors would be happy to recommend a rental stay here to friends and family.

Accommodation is primarily booked online, with 58.6% of stays arranged via dedicated rental portals. 66.5% of all visitors would also be happy to pay a small tourist tax in order to access good quality rental accommodation.