{"id":712,"date":"2024-11-13T10:50:41","date_gmt":"2024-11-13T10:50:41","guid":{"rendered":"https:\/\/realestatedekho.com\/blog\/?p=712"},"modified":"2024-11-13T10:50:42","modified_gmt":"2024-11-13T10:50:42","slug":"an-incredible-giant-sleeping-indian-vacation-rental-industry","status":"publish","type":"post","link":"https:\/\/realestatedekho.com\/blog\/2024\/11\/13\/an-incredible-giant-sleeping-indian-vacation-rental-industry\/","title":{"rendered":"An \u2018incredible\u2019 giant sleeping \u2013 Indian vacation rental industry"},"content":{"rendered":"\n

If<\/strong> you believe in being at the right place at the right time is crucial for any business to be successful, I must say India is the right place and this is the right time for vacation rental business in India. This is \u00a0evident from the fact that the vacation rental giants like Airbnb<\/a>, Homestay<\/a>, Flipkey<\/a>, \u00a0Booking.com<\/a>, Agoda<\/a> , Real Estate Dekho<\/a> etc have strongly expanded their business to India.<\/p>\n\n\n\n

Real Estate Dekho<\/p>\n\n\n\n

Product\/service<\/p>\n\n\n\n

\ud83c\udfe0 Your Ultimate Destination for Sales
One-Day, and Rental Property Listings!
\ud83d\udcde 954-989-9621<\/a><\/p>\n\n\n\n

\"Vacation<\/figure>\n\n\n\n

In 2016, the hospitality industry in India was valued at $36 billion, with 84% being spent by domestic travelers. This figure is certain to be doubled by 2020. Today there is already a shortage of nearly 100,000 rooms in the country this proves the huge opportunity for growth. Another point to ponder is that in the value and budget segment \u00a0200,000 room nights are booked daily.<\/p>\n\n\n\n

I am confident to call India as a \u2018vacation rental giant<\/strong>\u2018 due to the following \u00a0factors.<\/p>\n\n\n\n

Increasing vacant homes<\/strong><\/p>\n\n\n\n

\"vacant<\/figure>\n\n\n\n

A report by the housing ministry of India says of the 17.95 million housing units that came up in the country between 2007 and 2012, 11.09 million houses or nearly 62% were either \u201cvacant or locked up\u201d. For instance in a city like Bangalore, out of 32.6lakh <\/a>houses around 3.6 lakh is vacant ie, every 10th<\/sup> house you count is vacant. The vacant houses are increasing since the number of Indians migrating abroad are increasing. This gives a higher chance that these vacant homes will be converted into vacation rentals. The rural population in India is decreasing drastically which keeps the rural homes in India empty. Most of these homes are inhabited by elderly people who prefer to rent their properties as an alternative source of income.<\/p>\n\n\n\n

Real Estate Dekho<\/p>\n\n\n\n

Product\/service<\/p>\n\n\n\n

\ud83c\udfe0 Your Ultimate Destination for Sales
One-Day, and Rental Property Listings!
\ud83d\udcde 954-989-9621<\/a><\/p>\n\n\n\n

Increasing GDP Growth<\/strong><\/p>\n\n\n\n

\"Tourist-In-India-Nibodha-Vacation-Rental\"<\/figure>\n\n\n\n

Between 2011 and 2014, India\u2019s economy suffered from the twin troubles of high consumer price inflation and the failure of Manmohan Singh\u2019s<\/a> government to push through structural reforms that could boost private investment, which fell for 10 consecutive quarters. However, with the election of Narendra Modi <\/a>in 2014, India\u2019s economy has bounced back with the new government announcing measures to boost manufacturing and foreign direct investment.Consequently, the country\u2019s GDP has grown to 5.4% this year and is expected to reach 6.7% by 2019. As a result of this positive economic outlook, consumer confidence has increased. The IMF or the International Monitory Fund \u00a0was the latest organization to reaffirm it \u00a0saying \u00a0that \u00a0the India\u2019s economy will grow by 6.5% in 2016, faster than China\u2019s predicted 6.3% expansion. This makes India the fastest growing economy in the world. The Indian GDP growth in the coming year are figures which European countries can only dream of!<\/p>\n\n\n\n

Natural Beauty<\/strong><\/p>\n\n\n\n

The \u2018incredible India\u2019 is blessed with natural beauty, bio-diversity and is one of the most beautiful country on the planet. States like Goa, Jammu and Kashmir, Kerala, Maharashtra and north-eastern states <\/a>have some of the most exotic places on earth. Each state governments are competitively promoting the respective states in national and international tourism space. Just to sight an example, the Kerala tourism https:\/\/realestatedekho.com\/<\/a>has won the Golden Gate award or the travel Oscar at the 14th ITB Berlin for their video campaign named \u201cThe great backwaters of Kerala\u201d.<\/p>\n\n\n\n

Real Estate Dekho<\/p>\n\n\n\n

Product\/service<\/p>\n\n\n\n

\ud83c\udfe0 Your Ultimate Destination for Sales
One-Day, and Rental Property Listings!
\ud83d\udcde 954-989-9621<\/a><\/p>\n\n\n\n

\"Houseboat<\/a><\/figure>\n\n\n\n

Cost-Effective living<\/strong><\/p>\n\n\n\n

Vacation rental is basically a cost-effective method for enjoying vacations. When it comes to India, the concept becomes more concrete since the cost of living is very less compared to American or European countries<\/a>. The US dollar is equivalent to \u00a0around 60 Indian Rupees. You can rent a super luxury apartment in India for 3 days in Rs 30, 000 to 50, 000 Rupees but \u00a0that is just 660 to 1,098 US dollars. This will be for a 3-bedroom luxury apartment found in a most sought after destination. On the other hand, a 2-bedroom apartment in Americas costs 2,500 US dollars. The food especially is also relatively cheaper in India <\/a>than western countries.<\/p>\n\n\n\n

Challenges<\/strong><\/p>\n\n\n\n

\"Vacation-Rental-Homes-India-Nibodha-Technologies-Key\"<\/figure>\n\n\n\n

Apart from all these positive factors, there are few challenges to tackle in the industry. I happened to attend the Homestay or Vacation rental owners meet last week in Kerala. In India, Kerala is the most popular vacation destination for homestay or vacation home and in Kerala, Wayanad is on the top slot. It is followed by Fort-Kochi, the suburb of Kochi as the next popular \u00a0vacation rental hotspot in Kerala<\/a>. Some of the major issues addressed by vacation home owners were:<\/p>\n\n\n\n

>Lack of support from Govt agencies like police, water, electricity, labour and tourism<\/a><\/em><\/p>\n\n\n\n

>Unstructured bookings \u2013 Getting bookings are a cake-walk for them, but the way booking happens \u00a0is so unstructured, unpredictable and difficult to monitor.<\/p>\n\n\n\n

>ROI is less due to the commission (almost 20%) for booking sites like booking.com, Agoda etc<\/a>. This had made them to try less commission OTA\u2019s like Airbnb.<\/p>\n\n\n\n

Real Estate Dekho<\/p>\n\n\n\n

Product\/service<\/p>\n\n\n\n

\ud83c\udfe0 Your Ultimate Destination for Sales
One-Day, and Rental Property Listings!
\ud83d\udcde 954-989-9621<\/a><\/p>\n\n\n\n

>There is a huge difference between the expectations of the guests and the reality they witness after reaching India.<\/p>\n\n\n\n

If Indian property owners can overcome these challenges and can provide the best experience to their guests along with the support from govt. authorities, I can say the Vacation rental industry<\/a> in India is the next boom. The \u2018incredible giant\u2019 is sleeping just need to wake him up \ud83d\ude42<\/p>\n\n\n\n

\"TajMahal<\/figure>\n\n\n\n

<\/p>\n<\/body>","protected":false},"excerpt":{"rendered":"

If you believe in being at the right place at the right time is crucial for any business to be successful, I must say India is the right place and this is the right time for vacation rental business in India. This is \u00a0evident from the fact that the vacation rental giants like Airbnb, Homestay, Flipkey, \u00a0Booking.com, Agoda , Real Estate Dekho etc have strongly expanded their business to India. Real Estate Dekho Product\/service \ud83c\udfe0 Your Ultimate Destination for SalesOne-Day, and Rental Property Listings!\ud83d\udcde 954-989-9621 In 2016, the hospitality industry in India was valued at $36 billion, with 84% being spent by domestic travelers. This figure is certain to be doubled by 2020. Today there is already a shortage of nearly 100,000 rooms in the country this proves the huge opportunity for growth. Another point to ponder is that in the value and budget segment \u00a0200,000 room nights are booked daily. I am confident to call India as a \u2018vacation rental giant\u2018 due to the following \u00a0factors. Increasing vacant homes A report by the housing ministry of India says of the 17.95 million housing units that came up in the country between 2007 and 2012, 11.09 million houses or nearly 62% were either \u201cvacant or locked up\u201d. For instance in a city like Bangalore, out of 32.6lakh houses around 3.6 lakh is vacant ie, every 10th house you count is vacant. The vacant houses are increasing since the number of Indians migrating abroad are increasing. This gives a higher chance that these vacant homes will be converted into vacation rentals. The rural population in India is decreasing drastically which keeps the rural homes in India empty. Most of these homes are inhabited by elderly people who prefer to rent their properties as an alternative source of income. Real Estate Dekho Product\/service \ud83c\udfe0 Your Ultimate Destination for SalesOne-Day, and Rental Property Listings!\ud83d\udcde 954-989-9621 Increasing GDP Growth Between 2011 and 2014, India\u2019s economy suffered from the twin troubles of high consumer price inflation and the failure of Manmohan Singh\u2019s government to push through structural reforms that could boost private investment, which fell for 10 consecutive quarters. However, with the election of Narendra Modi in 2014, India\u2019s economy has bounced back with the new government announcing measures to boost manufacturing and foreign direct investment.Consequently, the country\u2019s GDP has grown to 5.4% this year and is expected to reach 6.7% by 2019. As a result of this positive economic outlook, consumer confidence has increased. The IMF or the International Monitory Fund \u00a0was the latest organization to reaffirm it \u00a0saying \u00a0that \u00a0the India\u2019s economy will grow by 6.5% in 2016, faster than China\u2019s predicted 6.3% expansion. This makes India the fastest growing economy in the world. The Indian GDP growth in the coming year are figures which European countries can only dream of! Natural Beauty The \u2018incredible India\u2019 is blessed with natural beauty, bio-diversity and is one of the most beautiful country on the planet. States like Goa, Jammu and Kashmir, Kerala, Maharashtra and north-eastern states have some of the most exotic places on earth. Each state governments are competitively promoting the respective states in national and international tourism space. Just to sight an example, the Kerala tourism https:\/\/realestatedekho.com\/has won the Golden Gate award or the travel Oscar at the 14th ITB Berlin for their video campaign named \u201cThe great backwaters of Kerala\u201d. Real Estate Dekho Product\/service \ud83c\udfe0 Your Ultimate Destination for SalesOne-Day, and Rental Property Listings!\ud83d\udcde 954-989-9621 Cost-Effective living Vacation rental is basically a cost-effective method for enjoying vacations. When it comes to India, the concept becomes more concrete since the cost of living is very less compared to American or European countries. The US dollar is equivalent to \u00a0around 60 Indian Rupees. You can rent a super luxury apartment in India for 3 days in Rs 30, 000 to 50, 000 Rupees but \u00a0that is just 660 to 1,098 US dollars. This will be for a 3-bedroom luxury apartment found in a most sought after destination. On the other hand, a 2-bedroom apartment in Americas costs 2,500 US dollars. The food especially is also relatively cheaper in India than western countries. Challenges Apart from all these positive factors, there are few challenges to tackle in the industry. I happened to attend the Homestay or Vacation rental owners meet last week in Kerala. In India, Kerala is the most popular vacation destination for homestay or vacation home and in Kerala, Wayanad is on the top slot. It is followed by Fort-Kochi, the suburb of Kochi as the next popular \u00a0vacation rental hotspot in Kerala. Some of the major issues addressed by vacation home owners were: >Lack of support from Govt agencies like police, water, electricity, labour and tourism >Unstructured bookings \u2013 Getting bookings are a cake-walk for them, but the way booking happens \u00a0is so unstructured, unpredictable and difficult to monitor. >ROI is less due to the commission (almost 20%) for booking sites like booking.com, Agoda etc. This had made them to try less commission OTA\u2019s like Airbnb. Real Estate Dekho Product\/service \ud83c\udfe0 Your Ultimate Destination for SalesOne-Day, and Rental Property Listings!\ud83d\udcde 954-989-9621 >There is a huge difference between the expectations of the guests and the reality they witness after reaching India. If Indian property owners can overcome these challenges and can provide the best experience to their guests along with the support from govt. authorities, I can say the Vacation rental industry in India is the next boom. The \u2018incredible giant\u2019 is sleeping just need to wake him up \ud83d\ude42<\/p>\n","protected":false},"author":1,"featured_media":714,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"jetpack_featured_media_url":"https:\/\/realestatedekho.com\/blog\/wp-content\/uploads\/2024\/11\/images-1.jpg","_links":{"self":[{"href":"https:\/\/realestatedekho.com\/blog\/wp-json\/wp\/v2\/posts\/712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/realestatedekho.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/realestatedekho.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/realestatedekho.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/realestatedekho.com\/blog\/wp-json\/wp\/v2\/comments?post=712"}],"version-history":[{"count":1,"href":"https:\/\/realestatedekho.com\/blog\/wp-json\/wp\/v2\/posts\/712\/revisions"}],"predecessor-version":[{"id":715,"href":"https:\/\/realestatedekho.com\/blog\/wp-json\/wp\/v2\/posts\/712\/revisions\/715"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/realestatedekho.com\/blog\/wp-json\/wp\/v2\/media\/714"}],"wp:attachment":[{"href":"https:\/\/realestatedekho.com\/blog\/wp-json\/wp\/v2\/media?parent=712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/realestatedekho.com\/blog\/wp-json\/wp\/v2\/categories?post=712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/realestatedekho.com\/blog\/wp-json\/wp\/v2\/tags?post=712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}