Airbnbs have been quickly growing in popularity in recent years and therefore have left an impact on in cities where they are popular. Airbnbs have proven to be beneficial for not only the local economy but also for its citizens. In this blog, we will explore reasons Airbnb is good for the local economy and its citizens.
Reasons Airbnb Benefits the Local Economy
Local Economy
According to Airbnb, 74% of properties are located outside of the main hotel district. Of the vast majority of Airbnbs located outside of central hotel districts, 42% of guest spending is done in the neighborhoods where they stayed. Therefore, BnB rental directly benefits the local economy. Some examples of Airbnbs positive impact are in cities such as San Francisco, New York, and Paris. San Francisco conducted a study in 2012 that found that Airbnb generates approximately $56 million in local spending and supports 430 jobs in San Francisco. Between 2012-2013, over 400,000 Airbnb guests visited New York. In one year, Airbnb generated $632 million in economic activity in the city. This included $105 million in direct spending in the outer boroughs. As for Paris 10,000 hosts housed over 223,000 guests, primarily renting the homes in which they live.
Hosts & Guests
Airbnbs are beneficial for hosts and for guests staying at the vacation rental. For guests, 79% of travelers want to explore a specific neighborhoods. 91% of travelers want to “live like a local.” Airbnb reported that hosting has helped make ends meet for many families. BnBs have contributed 53% of families stay in their homes and helped 48% of families pay for expenses such as groceries and rent. Of the total guest spending that was found for the research in San Francisco, $12.7 million goes directly to localhost households. Hosts in New York see much more activity in outer boroughs, which are areas that do not typically benefit from tourism spending. In Paris, almost half of hosts stated that they rely on Airbnb income to pay for household expenses.
Cleaners
Airbnb benefits local cleaners in many different ways. By cleaners having the option of vacation rental cleaning, they have the opportunity of fair pay and a wider option of jobs. Cleaners have only the option of working for a hotel or a cleaning company without the option of BnBs. Hotels have a set pay for their cleaners, which may not be as much as cleaners could make through Airbnbs. By having the option of Airbnb, these cleaners have the option to work on their own. They can choose what rentals they wish to conduct business. Through TurnoverBnB, cleaners have the opportunity to connect with vacation rental hosts in their area.
