Owners with listings on Airbnb use accommodation revenue to cover rising costs of living and “make ends meet”, according to the online platform’s annual survey of hosts and guests worldwide
Airbnb’s findings based on responses from tens of thousands of hosts and guests who used the platform last year provide insight into how hosts are using their Airbnb earnings in a time of runaway inflation and how customers are using the platform amid a travel revolution.
“As external forces pushed up inflation in the United States and around the world last year, revenue generated from lodging has become a critical element in meeting higher prices,” notes investigation.
In response to a question about why they host their accommodation on Airbnb:
- approximately 35 percent of hosts worldwide say one of the reasons they host is to make money to help cover the rising cost of living. This is based on a survey of 87,070 Airbnb listings booked between June 1 and December 31, 2021.
- almost 40 percent said they host to make money Make ends meet
- more 40 percent said they are hosting to earn extra spending money.
image source: Airbnb
Pay for basic needs
Hosts also use revenue earned on Airbnb to help pay for the the most basic of needs – housing.
Almost 45 percent of hosts globally said accommodation revenue helped them stay home in 2021, and of that group, more than 20 percent said the accommodation helped them avoid foreclosure or eviction.
In addition to paying rent and mortgages, a large percentage of hosts (53%) indicated that they use the money earned from hosting to improve their homes – maybe tackling that much-needed new roof or that much-desired new kitchen.
Hosts also indicated that they expect accommodation revenue to become more important, with around 30% saying they expect to become more dependent on host revenue over the course of the year. next year.
As prices rise, so does the income hosts earn through Airbnb. In 2021, the typical host in the United States earned over $13,800, an 85% increase from 2019. The typical income of $13,800 represents more than two months’ worth of income for the median US household.
Customers discover new places, stay longer
image source: Airbnb
Meanwhile, according to the Airbnb survey, Covid-19 the pandemic has changed the way people travel, with millions of people now more flexible about where they live and work.
In a trend that began last year and continued into the first quarter of 2022, customers are staying longer – basically live in Airbnbs.
Long-term stays reached a record level in the first quarter of 2022, more than doubled compared to the first quarter of 2019 and continue to represent approximately One out of five reserved nights. In addition, almost half of nights booked in Q1 2022 were for a week or more.
Guests are also discover new places to travel because of Airbnb. This is reflected in the fact that since March 2020, worldwide, more than 8,100 cities and towns have received their very first reservations. And customers have already planned stays in more than 72,000 cities and towns this summer.
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