Airbnb is committed to helping quickly restore tourism around the world as cities look to rebound from the effects of the COVID-19 pandemic. Cities are facing drastically reduced tax revenue, devastated tourism economies, and high unemployment among industries reliant on tourism.
The World Tourism & Travel Council (WTTC) estimates that nearly $4.5 trillion in travel and tourism-related gross domestic product (GDP) was lost last year due to the pandemic, affecting more than 61 million jobs.*
New research released today reveals how Airbnb can help. Travel is coming back, Airbnb’s 4 million Hosts are welcoming guests in cities across the world and Airbnb promotes the kind of travel, and tourism that is good for Hosts, guests, and local communities:
- Airbnb Hosts keep up to 97% of what they charge for their listing, and unlike many big hotels, Hosts keep the money they earn in the community.
- Airbnb listings are located in a wide range of neighborhoods, including neighborhoods that do not typically benefit from tourism.
- When guests arrive at their listing, they often receive recommendations from their Host for local businesses to visit, many of which are in the neighborhood where they stay. This type of hosted travel helps guests live like locals and has significant positive economic impacts as guests spend time and money in local restaurants and businesses.
To better understand how Airbnb can help support local economies and cities as they plan for their post-pandemic recovery, Oxford Economics recently analyzed the economic impact of the Airbnb community in select destinations around the world. The analysis found that in 2019, in the 30 destinations studied, Airbnb supported over 300,000 jobs, including tens of thousands of jobs in industries like restaurants and retail that have been hit hard by the pandemic. Airbnb guests supported more than 100,000 restaurant industry jobs, nearly 95,000 retail jobs, nearly 50,000 transportation jobs, and more than 40,000 entertainment jobs.
The Oxford Economic analysis also found that as cities reopen and welcome back Airbnb guests, the amount of Airbnb activity is directly proportional to job support. Based on the communities studied across the world, on average, for every 1,000 Airbnb guests who visit, nine jobs are supported.
“In our review of Airbnb’s guest spending data, it’s clear the tourism activity that Airbnb drives in these locations benefits cities, states and countries immensely by supporting a significant amount of jobs,” said David Goodger, Oxford Economics’ Director of Tourism Economics in Europe. “This type of economic impact has become even more important as cities look to recover from the COVID-19 pandemic. New spending by Airbnb guests will support jobs and generate new employment to aid the recovery for the tourism sector which has been hit hardest by the pandemic.”
As cities, states and countries plan for the months and years ahead, this data shows that Airbnb can be an important part of their economic revitalization, and we stand ready to work with them to make that a reality.