Airbnb Generated $85 Billion in Economic Impact in U.S.

<p>In 2023&comma; Airbnb said guests traveled to <a href&equals;"https&colon;&sol;&sol;news&period;airbnb&period;com&sol;last-year-airbnb-guests-traveled-to-more-cities-than-ever-before&sol;">more than 100&comma;000 cities and towns<&sol;a> around the world making it the most dispersed year of travel ever on the platform&period; In the US&comma; nearly 600 cities and towns welcomed their first guest&comma; demonstrating that travel on Airbnb continues to be a popular way for people to experience new places&period; Airbnb helps support travel that is good for Hosts&comma; guests and communities that want to benefit from tourism&colon;<&sol;p>&NewLine;<ul>&NewLine;<li>Hosts keep the vast majority of what they charge for their listing and help keep that money in their local communities&period;<&sol;li>&NewLine;<li>Listings are located in a wide range of neighborhoods including those that historically have not reaped the economic benefits from tourism&period;<&sol;li>&NewLine;<li>Guests can use Airbnb to find affordable accommodation options&comma; often with more amenities than hotels offer&comma; and stay in neighborhoods where their spending helps support local restaurants and small businesses<&sol;li>&NewLine;<&sol;ul>&NewLine;<p>A newly released economic analysis estimates that travel on Airbnb <strong>generated more than &dollar;85 billion in economic impact across the US in 2023<&sol;strong>&period;<strong> <&sol;strong>In addition&comma; for every &dollar;100 spent on an Airbnb stay&comma; guests spent about &dollar;264 on other goods and services such as local businesses&comma; restaurants&comma; attractions&comma; shops&comma; and more&period; This economic activity helps to create an additional income stream for Hosts&comma; fuel visitor spending in communities&comma; support jobs across multiple industries&comma; and contribute substantial tax revenue for local governments&period;<&sol;p>&NewLine;<p>The report uses insights from IMPLAN Cloud&comma; a software that combines data and analytics&comma; to better understand how home sharing supports economic activity in communities across the US&period; The analysis looked at direct spending from Airbnb guests&comma; as well as the indirect and induced effects from visitor spending in 2023&period; Below is a summary of the key findings&period;<&sol;p>&NewLine;<h2 class&equals;"wp-block-heading"><strong>Travel on Airbnb supported one million jobs<&sol;strong><&sol;h2>&NewLine;<p>In 2023&comma; 87 percent of Hosts in the US reported they &ZeroWidthSpace;&ZeroWidthSpace;recommend restaurants&comma; shops and other local attractions located in the neighborhood of their listing to guests&period; By welcoming guests who then patronize local businesses&comma; Hosts on <strong>Airbnb helped support approximately one million US jobs <&sol;strong>last year<strong> <&sol;strong>across multiple sectors&comma; including restaurants<strong>&comma; <&sol;strong>arts and entertainment&comma; retail&comma; and more&period; These jobs generated <strong>an estimated &dollar;50 billion in income for workers in key industries&comma; <&sol;strong>and with <a href&equals;"https&colon;&sol;&sol;news&period;airbnb&period;com&sol;US-travel-dispersal-report&sol;">many Airbnb listings<&sol;a> located in areas without hotels&comma; this income benefits people in communities outside traditional tourism hubs&period;<&sol;p>&NewLine;<h2 class&equals;"wp-block-heading"><strong>Guests on Airbnb generated &dollar;80B in local spending<&sol;strong><&sol;h2>&NewLine;<p>In 2023&comma; guests on Airbnb reported they spent an estimated &dollar;210 per day during their trip and approximately 40 percent of their spending was in the neighborhood of their listing&period; In total&comma; <strong>guests who traveled on Airbnb generated more than &dollar;80 billion in visitor spending <&sol;strong>last year by supporting local small businesses&comma; restaurants&comma; transportation and other establishments&period;<&sol;p>&NewLine;<p>Guest spending also <strong>generated more than &dollar;24 billion in taxes&comma; including more than &dollar;2&period;2 billion in tourism related taxes collected and remitted by Airbnb on behalf of Hosts<&sol;strong>&period; Since 2014&comma; Airbnb has worked with cities and towns around the world to help Hosts pay their fair share of tourism taxes and support a vital source of funding for local governments&period;<&sol;p>&NewLine;<h2 class&equals;"wp-block-heading"><strong>Hosts earned more than &dollar;24B in supplemental income<&sol;strong><&sol;h2>&NewLine;<p>Across the U&period;S&period; Hosts rely on the income from home sharing to help make ends meet&comma; save for retirement&comma; or pay for improvements to their home&period; Last year&comma; <strong>Hosts in the US earned more than &dollar;24 billion and the typical Host earned an estimated &dollar;14&comma;000<&sol;strong> by welcoming visitors to their community&period; According to internal Airbnb survey data&comma; this supplemental income is a lifeline for many Hosts&colon;<&sol;p>&NewLine;<ul>&NewLine;<li>65&percnt; of US hosts say they plan to use earnings to cover the heightened cost of living<&sol;li>&NewLine;<li>43&percnt; of US hosts say the income earned has helped them stay in their homes<&sol;li>&NewLine;<li>11&percnt; of US Hosts say hosting on Airbnb helped them avoid eviction or foreclosure<&sol;li>&NewLine;<&sol;ul>&NewLine;

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