Airbnb’s billion dollar impact on the global travel economy

Airbnb’s billion dollar impact on the global travel economy
Airbnb aims to spread the benefits of tourism to some of the least visited destinations in the world.
Published: 10 July 2019 - 2:30 p.m.
By: Claudia De Brito

Airbnb is an end-to-end travel platform that combines where users stay, what they do, and how they get there, all in one place.

As the community continues to grow, the platform is generating substantial economic benefits for hosts and communities. According to new survey findings and an analysis of internal data, Airbnb’s host and guest community generated over $100 billion in estimated direct economic impact across 30 countries in 2018 alone.

Since Airbnb was founded, hosts have earned over $65 billion that many use to pay the bills and pursue their passions. Small businesses – many of which are located outside of the traditional tourist districts – also benefit from Airbnb guests, many of whom spend the money they save on accommodation at local establishments.

This growth has come as Airbnb aims to spread the benefits of tourism to some of the least visited destinations in the world. Between 2016 and 2018, guest arrivals of travellers on the Airbnb platform increased substantially in places like Moldova (190%), Vanuatu (187%) and New Caledonia (175%).

According to an Airbnb survey of more than 228,000 responses from its host and guest community around the world:
• 84% of Airbnb hosts say they recommend restaurants and cafes to guests.
• 69% of Airbnb hosts say they recommend cultural activities such as museums, festivals, and historical sites to guests.
• 51% of Airbnb hosts say hosting has helped them afford their homes.
• On average, Airbnb guests say 42% of their spending occurs in the neighborhood where they stay.
• 50% of guests say they spent the money they saved by staying on Airbnb in the cities and neighborhoods they visited.
• 70% of guests say wanting to explore a specific neighborhood matters in their decision to use Airbnb.
• 86% of guests say the location being more convenient than hotels matters in their decision to use Airbnb.
• Guests who say Airbnb impacted the length of their stay on average added 4.3 days to their trip

Airbnb Direct Economic Impact in 2018 in US $

1. USA: 33.8 billion
2. France: 10.8 billion
3. Spain: 6.9 billion
4. Italy: 6.4 billion
5. UK: 5.6 billion
6. Australia: 4.4 billion
7. Canada 4.3 billion
8. Japan: 3.5 billion
9. Mexico: 2.7 billion
10. Portugal: 2.3 billion
11. Germany: 2.3 billion
12. China: 2.3 billion
13. Brazil 2.1 billion
14. Greece: 1.4 billion
15. Netherlands: 1.3 billion
16. Korea: 1.2 billion
17. Thailand: 1.1 billion
18. New Zealand: 912 million
19. Croatia: 910 million
20. Ireland: 832 million
21. Malaysia: 734 million
22. South Africa: 685 million
23. Argentina: 664 million
24. Denmark: 654 million
25. Switzerland: 651 million
26. Austria: 625 million
27. Indonesia: 593 million
28. Philippines: 586 million
29. Colombia: 560 million
30. Czech Republic: 555 million

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