Oxford Economics study highlights Airbnb’s contribution to Czech economy

The economic impact of Airbnb travel in Prague and across Czechia  is supported by new research from Oxford Economics, commissioned by Airbnb. Czechia is renowned for its medieval architecture and rich cultural tapestry andhese assets make Czechia’s tourism sector a pillar of the national economy and create great economic opportunities for Czech regions. 

In 2023, tourism added CZK 403 billion to the economy¹ and supported 8.3% of jobs nationwide. While tourism is an important economic contributor across the country,  a recent report published by Oxford Economics emphasizes Airbnb’s contribution to helping ensure that tourism directly supports families, businesses and communities. While guests on Airbnb accounted approximately for only 1 in 10 of all overnight stays across Prague in 2023, Airbnb contributed CZK 9.5 billion to Prague’s tourism GDP in 2023, and supported more than 7000 jobs. 

High quality tourism on Airbnb benefits local businesses 

The Oxford Economics report highlights that the platform is a driver for tourist spending that benefits local businesses across the economy, including restaurants and cafes, retailers, recreational and cultural attractions and transportation businesses. In 2023, almost three quarters (72%) of Airbnb guest spending went towards non-accommodation services like restaurants and retail stores. Retail and hospitality sectors collected over CZK 4.6 billion from guests on Airbnb.  In addition, international guests from all over the world stay on Airbnb in Czechia, contributing to high-quality tourism that benefits the local economy. In 2023, international visitors accounted for more than 90% of all Airbnb-linked spending in the country (CZK 9.6 billion), and 11.6% of tourism spending from international travelers was generated from Airbnb listings. 

Gosia Kacprzyk, Public Policy Manager for Central and Eastern Europe at Airbnb:

This new economic report highlights the significant role of the Sharing economy for tourism in Czechia. Airbnb consistently advocates for fair rules for short-term rentals, which allow everyday hosts in Czechia to share their homes — especially at a time when additional income helps Czech residents afford rising costs of living. Guests on Airbnb spend about CZK 4.6 billion CZK in local businesses including small cafes, restaurants, and shops. While the report focused on tourism in Prague, the economic contribution is also crucial in other parts of Czechia, where everyday families host to earn additional income. Airbnb has long supported sustainable tourism and dispersed, rural travel to destinations beyond the busy hotspots.

Download the study here