Study: The importance of short-term rentals in the accommodation services subsector, 2017 to 2021

Released: 2023-06-30

This paper looks at the expansion of private short-term rentals in the accommodation services subsector over a five-year period from 2017 to 2021. During that time, the market share of the short-term rental industry more than doubled at the national level. However, this growth was uneven across the provinces and territories, where the short-term rental market can have significantly different impacts depending on location. This is also true of the subprovincial markets that were reviewed, which include the largest census metropolitan areas and some of the most recognizable tourist markets in Canada.

The shock of the COVID-19 pandemic affected many industries but did not slow the significance of private short-term rentals. However, the travel destinations of Canadians and the lack of international tourists travelling to Canada notably changed some market shares during the pandemic in 2020 and 2021. Additionally, the expansion of private short-term rentals has brought these activities increasingly under the focus of legislators and regulators. As the effects of the pandemic subside and regulations further change the playing field, the future impact of the short-term rental industry on the accommodation services subsector is unclear and will be further analyzed when new estimates are available.

Products

The study "The growing share of private short-term rental revenue in the Canadian accommodation services subsector: Trends from 2017 to 2021," which is part of Analysis in Brief (Catalogue number11-621-M), is now available.

Contact information

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