Airbnb recently released a study on the economic impact of Airbnb in Sydney, here are a few highlights from the press release.
Today, we are highlighting a new study which indicates that Airbnb supports nearly $200 million in economic activity in Sydney. The study makes clear that the overwhelming majority of hosts in Sydney share the home they live in. And because Airbnb hosts are located throughout the city and give their guests local tips on things to do, Airbnb is bringing tourists to neighborhoods and attractions in Sydney that haven’t benefited from tourism in the past—a trend we see in city after city around the world.
Highlights from the study include:
- Airbnb hosts help their guests discover less-visited locales — 98 percent of hosts suggest local restaurants, cafes, bars and shops in their neighbourhoods to their guests. Additionally, the Airbnb community supported 1,642 jobs.
- The typical Airbnb host occasionally rents out the property in which he or she actually lives. 85 percent of Airbnb hosts rent out the home they live in and the typical host earns $4,505 per year by renting 37 nights per year.
- 59 percent of Airbnb hosts in Sydney are over 40.
- While the majority of Airbnb hosts are employed, many struggle to make ends meet. 46 percent of Airbnb hosts earn at or below Sydney’s median household income.
- 48 percent of Airbnb hosts say Airbnb helped them stay in their homes and 60 percent of hosts use Airbnb income to pay their rent or mortgage.
- 75 percent of Airbnb guests visit Sydney from another country. The average age of Airbnb guests is 42 and 77 percent have at least a college degree.
- Airbnb helps to increase the number of visitors to Sydney, with 48 percent of Airbnb guests visiting Sydney for the first time. 31 percent say they would not have come to Sydney or stayed as long in Sydney if not for Airbnb. 63 percent of Airbnb guests also say that Airbnb makes them more likely to return to Sydney.
- Airbnb guests spend AUD $1,822 over the course of their trip compared to average tourists who spend AUD $1,071.
- Airbnb is complementary to the existing tourism industry in Sydney – 80 percent of Airbnb listings in Sydney are outside of the main tourist areas and the average Airbnb guest spends AUD $1,042 in the neighbourhood where she stays. For example, Airbnb guests spent an estimated $136,020 in Randwick.
Being an Airbnb host in Sydney I can certainly agree with the findings of the survey. You can read the full story over on the Airbnb site