Airbnb plays a vital role in recovery

BANGKOK, Aug 20, 2020: Contributing up to THB 43.7 billion to the country’s GDP and supporting 113,300 local jobs in 2019, Airbnb could play a “critical role” as the tourism industry braces for recovery in Thailand, according to a landmark report released Wednesday by Oxford Economics.

The Short-Term Rentals Drive Economic Opportunities and Growth report commissioned by Airbnb explored the contribution nationwide between 2015 and 2019.

He revealed that prior to Covid-19, Airbnb had become a mainstay of economic impact and creating opportunity for families, small businesses and communities that benefit from short-term rentals.

The report also highlighted the positive impact of Airbnb customer spending on local communities as Airbnb spreads the benefits of tourism.

Between 2015 and 2019, Airbnb customers spent THB 150 billion in Thailand, with annual growth of 54.8%. In 2019, Airbnb customers spent over THB 19.6 billion in local restaurants and stores, and for every THB 1,000 spent on Airbnb, an additional THB 420 was spent with local businesses.

The report confirmed that Airbnb is delivering the benefits of tourism to off-the-beaten-path communities, with more than 9% of customer spend incurred outside of key cities in 2019.

Out of its 99,000 listings, Airbnb hosted 2.5 million customers in Thailand in 2019, an increase of 27% year-on-year and an increase of almost 8 times over 2015. Showing an appetite for a choice of Accommodation varied by travelers, the average spend per trip was 20,376 THB and 18,076 THB for international and domestic customers accordingly.

With APAC countries dominating global travel, Airbnb’s largest inbound market for Thailand in 2019 was mainland China with a 38% market share, followed by the United States (11%), Hong Kong SAR (5%), South Korea (4%) and Singapore (4%).

Across the Asia Pacific (APAC) region, Airbnb’s economic contribution has grown faster than the overall tourism average, as it supported a total contribution of THB 703.7 billion to the region’s GDP in 2019. The platform has also played a key role in the growth of economic opportunities. across the region, supporting a total of 925,600 jobs in APAC or 1% of total employment in the APAC tourism sector.

James Lambert, Director of Oxford Economics’ Asia Economic Council, said: “Airbnb is well positioned to play an important role in driving tourists and their spending back to destination economies. Airbnb could play an important role in supporting the faster recovery of domestic travel by helping households, especially those looking to replace international travel with domestic travel, discover new areas in their own country to visit. Specifically, Airbnb can inspire domestic travel to areas outside of tourist hotspots by offering unique listings and experiences in regional markets. ”

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