The Latest Relocation Industry Statistics Explained
In 2019, the global relocation industry registered a revenue of close to 18 billion USD.
The statistic indicates that in 2019, the global relocation industry generated nearly 18 billion USD in revenue, highlighting the significant economic scale and importance of the industry. This figure represents the collective income generated by companies and service providers involved in facilitating the movement of individuals or businesses from one location to another, both domestically and internationally. The revenue generated within the relocation industry encompasses various services such as packing, moving, storage, and logistics, reflecting the demand for relocation services in today’s interconnected world. This statistic underscores the substantial financial impact and market size of the global relocation industry, emphasizing its role in supporting the mobility needs of individuals and businesses worldwide.
In 2020, US companies spent nearly $18 billion on domestic corporate relocation services.
The statistic indicates that in the year 2020, companies in the United States collectively invested approximately $18 billion towards domestic corporate relocation services. This significant amount reflects a high level of activity in the corporate relocation sector, suggesting that many companies were either expanding their operations, relocating offices, or accommodating employee moves within the country. Such substantial spending underscores the importance and investment companies place on managing their workforce and real estate efficiently, potentially driven by factors such as business growth, cost optimization, or adjusting to changes in the economic landscape.
Almost 80% of corporations using in-house relocation teams utilize at least one outsourcing service.
This statistic suggests that a significant majority, nearly 80%, of corporations that manage their employee relocations internally also rely on at least one external outsourcing service to support their relocation processes. This finding indicates that despite having in-house relocation teams, these corporations still recognize the value and efficiency that outsourcing services can provide in managing aspects of their employee relocation programs. By utilizing outsourcing services, these corporations are likely able to streamline their relocation processes, access specialized expertise, and potentially reduce costs associated with handling relocations entirely in-house. Overall, this statistic highlights the common practice of corporations blending in-house capabilities with external outsourcing services to optimize their relocation operations.
The relocation industry is expected to grow at a CAGR of 3.75% between 2021 and 2026.
The statistic stating that the relocation industry is predicted to grow at a compound annual growth rate (CAGR) of 3.75% between 2021 and 2026 implies that the industry is likely to expand steadily over the mentioned period. This growth rate suggests that the industry will increase its size and revenue by approximately 3.75% each year on average. Factors driving this growth could include increasing globalization, urbanization, job opportunities in different locations, and changing demographic patterns leading to a higher demand for relocation services. This projection is based on analyzing historical data, current trends, and economic forecasts to anticipate how the industry is expected to evolve in the coming years.
Approximately 40% of all relocations are job-related.
The statistic stating that approximately 40% of all relocations are job-related indicates that a significant portion of people who move from one location to another do so for work-related reasons. This suggests that job opportunities and career advancement play a substantial role in individuals’ decisions to relocate. Such a high percentage highlights the importance of employment factors in driving migration patterns, as individuals may be willing to uproot themselves and their families in pursuit of better career prospects, higher salaries, or improved job satisfaction. Understanding this statistic can provide valuable insights into the labor market’s impact on people’s mobility and the broader economic implications of job-related relocations.
Around 42% of the total relocations are due to personal reasons or lifestyle changes.
The statistic indicating that around 42% of total relocations are attributed to personal reasons or lifestyle changes suggests that a significant portion of individuals or households are moving for reasons that are not directly related to work, financial constraints, or other external factors. This could imply that almost half of the people who decide to relocate are motivated by personal desires, such as wanting a change in scenery, seeking better quality of life, or pursuing new opportunities or experiences. Understanding this trend can provide insights into the diverse reasons behind people’s decisions to move, highlighting the importance of personal factors in shaping mobility patterns and preferences within populations.
Roughly 53% of corporate relocations in 2019 involved an employee with a spouse or domestic partner.
The statistic indicates that in 2019, approximately 53% of corporate relocations involved employees who had a spouse or domestic partner. This suggests that a significant portion of employees being relocated by their companies had a partner or spouse who may also be impacted by the move. Corporate relocations can often have a ripple effect on families and households, as the decision to move for work can also affect the job opportunities and lifestyle choices of the employee’s partner or spouse. Understanding the prevalence of dual-career households in corporate relocations is important for companies to consider when planning and supporting employees through the relocation process.
A 2019 survey indicated that 55% of companies paid to pack all items during a relocation.
The statistic from a 2019 survey shows that 55% of companies chose to pay for packing services for all their items during a relocation process. This suggests that slightly more than half of the companies surveyed opted for the convenience and efficiency of having professionals handle the packing aspect of their relocation. This could indicate a trend towards outsourcing packing services to streamline the moving process and potentially alleviate the stress and labor associated with packing. Additionally, the statistic may reflect a decision-making approach among companies to prioritize time and resources towards their core business activities by delegating non-core tasks like packing to specialized service providers.
Nearly 43% of transferees in 2019 were homeowners.
The statistic “Nearly 43% of transferees in 2019 were homeowners” suggests that a significant portion of individuals who transferred residences in 2019 were property owners. This information highlights the prevalence of homeowners among those who were in the process of moving or relocating during that year. This data point could indicate various factors, such as the stability of the housing market, economic conditions influencing homeownership decisions, or demographic trends among transferees. Understanding the proportion of homeowners among transferees in 2019 can provide insights into the real estate landscape, migration patterns, and potential implications for housing policies or market strategies.
About 32% of homeowners planning a move are also planning to spend less than $10,000 on their relocation.
The statistic indicates that approximately 32% of homeowners who are planning to move are also intending to limit their relocation expenses to less than $10,000. This insight suggests that a significant portion of individuals seeking to change residence are aiming to keep their moving costs relatively low. Budget-conscious relocation decisions may be influenced by various factors such as financial constraints, cost-effective moving strategies, or a desire to minimize expenses during the transition period. Understanding this statistic can be valuable for moving companies, real estate professionals, and individuals in the housing market to tailor their services or plan accordingly to cater to this segment of homeowners looking to relocate within a limited budget.
In 2018, 20.07 million households within the U.S. moved, representing 14.1% of all households.
In 2018, a total of 20.07 million households in the United States relocated, which accounts for approximately 14.1% of all households in the country that year. This statistic indicates a significant level of residential mobility within the U.S., with a notable portion of households choosing to move to new locations or residences. Such movement can be driven by various factors such as job changes, housing affordability, lifestyle preferences, or other personal circumstances. Understanding the extent of household mobility can provide insights into housing market trends, economic conditions, and demographic shifts across different regions within the U.S.
Approximately 65.5% of U.S. Movers in 2018 moved within the same county.
The statistic that approximately 65.5% of U.S. movers in 2018 moved within the same county suggests that the majority of people who relocated that year did not venture far geographically. This indicates a trend of local moves rather than long-distance migrations. Factors such as job opportunities, housing affordability, and lifestyle preferences may contribute to individuals and families choosing to stay within their current county when relocating. Understanding and analyzing these patterns can provide valuable insights for urban planning, infrastructure development, and housing market dynamics within the U.S.
The international removals market is expected to reach $29.04 billion by 2022.
This statistic indicates that the international removals market is projected to grow significantly and reach a total value of $29.04 billion by the year 2022. This growth in market size suggests an increasing demand for international removal services, likely driven by factors such as globalization, international relocations, and international trade. The expanding market presents opportunities for companies operating in the removals industry to expand their services, enter new markets, and capture a larger share of the growing international removals market. Additionally, this statistic highlights the importance of efficient and reliable removal services in supporting individuals and businesses as they navigate the complexities of moving goods and possessions across international borders.
More than 30% of individuals aged 20-24 years make a home change each year.
The statistic stating that more than 30% of individuals aged 20-24 years make a home change each year indicates a relatively high rate of residential mobility within this particular age group. This could suggest various factors influencing this behavior, such as pursuing higher education, starting new job opportunities, or seeking independence from parental households. The frequency of home changes among young adults may reflect a period of transition and exploration as they establish their lives and careers. It is important for policymakers, urban planners, and housing providers to consider the preferences and needs of this demographic group in terms of affordable and accessible housing options to support their mobility and aspirations.
46% of people stated that they moved due to wanting a new or better home or apartment.
The statistic indicates that 46% of the surveyed population cited the desire for a new or better home or apartment as the reason for their relocation. This information suggests that a significant portion of individuals prioritize their living situation when deciding to move. Factors influencing this decision may include upgrading to a larger space, seeking better amenities, or moving to a more desirable location. Understanding these motivations can be valuable for real estate professionals, urban planners, and policymakers in anticipating housing preferences and trends among the population. Additionally, this statistic highlights the importance of housing quality and accessibility in shaping individuals’ decisions to relocate.
In 2020, 9% of moves were made by people who were retiring.
In 2020, the statistic indicating that 9% of moves were made by individuals who were retiring suggests that a notable proportion of the population relocated as they transitioned into retirement. This statistic highlights a trend where retirees are choosing to move to different locations, potentially for reasons such as downsizing, seeking a more desirable climate or lifestyle, or being closer to family. Understanding the demographics and motivations behind this trend can provide valuable insights into the housing market, economic impact on specific regions, and social dynamics as the population ages. By analyzing and interpreting this statistic within the broader context of migration trends, policymakers, real estate professionals, and researchers can better address the evolving needs and preferences of retirees.
Men are slightly more likely to move for work-related reasons (10.8%) compared to women (8.5%).
The statistic indicates that men have a higher likelihood of moving for work-related reasons compared to women. Specifically, 10.8% of men have reported moving for work-related reasons, while only 8.5% of women have reported the same. This suggests that there is a modest gender difference in the propensity to relocate for work opportunities, with men being slightly more inclined to do so. The reasons behind this difference could stem from various factors such as career aspirations, job opportunities, gender norms, or family responsibilities that might influence individuals’ decisions to move for work. Further exploration into these factors could provide valuable insights into understanding the underlying dynamics driving this gender disparity in work-related mobility.
Around 17% of the world’s population moves each year.
The statistic stating that around 17% of the world’s population moves each year indicates the annual global migration rate. This migration rate can encompass various forms of movement such as international migration, internal migration within a country, or temporary movements like seasonal or short-term relocations. Factors driving this movement may include economic opportunities, political instability, environmental changes, or personal reasons. Understanding and monitoring migration trends is crucial for policymakers, businesses, and organizations to address issues related to infrastructure, labor markets, social services, and cultural diversity. The statistic underscores the dynamic nature of human mobility on a global scale and its impact on societies and economies worldwide.
About 24% of military families move across state lines each year compared with 13% of the civilian population.
The statistic indicates that there is a higher rate of interstate mobility among military families compared to the general civilian population. Specifically, approximately 24% of military families relocate across state lines each year, while only 13% of the civilian population does so. This difference suggests that the nature of military service, which often requires frequent relocations due to deployments and transfers, contributes to a higher prevalence of interstate moves within military families. These relocations can have significant implications for military families in terms of adjusting to new environments, accessing resources, and maintaining social connections. The statistic highlights the unique challenges and experiences faced by military families in terms of geographical mobility compared to the general civilian population.
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