Despite the outlook for strong current value growth in 2021, the year will still be a transition year for the recovery of car rentals. The minimal recovery of inbound tourism expected for 2021 will negatively influence car rentals as tourists make up the majority of both business and leisure car rental.
While car rental undergoes a partial recovery in 2021, the focus will remain on leisure car rentals. It is expected that tourism in 2021 will mainly be friends and family travelling to visit each other after a long period of isolation.
Car rental is poised to see even stronger triple-digit current value growth in 2022, marking the real year of recovery. Moving forward, demand is set to gradually slow over the forecast period, returning to single-digit current value growth by 2026.
Moving forward, consumers’ travel plans are likely to remain closer to home than pre-pandemic, with Belgium likely to see the majority of tourism occurring inside Europe. In this context, cars could become an even more popular transportation mode than airplanes.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Car Rental (Destination) industry in Belgium with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Car Rental (Destination) industry in Belgium, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Car rental covers the short-term rental of passenger vehicles for self-drive by both business and leisure users, whether from the airport or downtown locations. Trucks and commercial vans are excluded. Car rental value covers the price of car hire to the consumer. Ancillary revenues are included, such as the hire of baby car seats, GPS navigation systems, optional roadside assistance services and collision and damage waivers. Volume is provided by the number of car hire transactions, fleet size and number of car rental operators. In underdeveloped markets, car rental companies offer chauffeur-driven cars. Most people prefer these options, due to unfamiliarity with the roads. Euromonitor International includes chauffeur-driven cars in car rental, when they concern car rental companies such as Hertz or Avis, which offer a chauffeur-driven service as an additional option. Car rental covers sales to inbound tourists and domestic tourists. i.e. from a destination point of view (also known as point of supply). For example, if a US citizen books a car rental service in France via the US offices of Hertz, the sales are attributed to Hertz France. The same applies for online sales. Car rental excludes long-term leasing, commercial vehicles, trucks and motorbikes and local car sharing schemes.See All of Our Definitions
This report originates from Passport, our Car Rental (Destination) research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!