AirBnB creates value for the local economy
Until a decade ago, the term “Airbnb” didn’t even exist. Nowadays, Airbnbs continue to grow in popularity and are beginning to leave a positive impact on many cities. These alternative accommodations have proven to be beneficial not only for the local economy but also for its citizens.
When we consider the tourists who visit these less well-known areas of town, it can be of a huge benefit to both business owners, hosts and guests alike. In this article, we’ll explore the many reasons Airbnb is good for the local economy and its people.
LOCAL ECONOMY SPENDING INCREASES
Vacation rentals are a key factor that brings visitors to other parts of town that could take profit from this tourist revenue as more often than not, tourists stay in hotels and hostels located downtown and they socialize there not doing business in less-visited areas.
Of the large majority of Airbnbs which are outside of main hotel districts, guests spend 42% of their money in the neighborhoods where they are staying.
As a result, we can deduce that properties like those listed on Airbnb can directly benefit the local economy because, without them, guests would spend this 42% in city centers where hotels are.
HOSTS AND GUESTS REAP THE BENEFITS
For guests, vacation rentals pave the way to explore less touristy areas, save money and accommodate large families.
Another big benefit for guests choosing a vacation rental over a hotel is the price. Airbnbs tend to offer better value for money compared with a hotel in the same location. Additionally, they can also offer a wider price range and cater to larger families more comfortably than hotels do.
Airbnb reported huge benefits for hosts, in that hosting has helped make ends meet for many families. Their statistics show that 52% of hosts have a low to moderate income, that 48% of host income is used to pay for regular household expenses like rent and groceries and it has permitted 53% of families to afford their own home.
SERVICE PROVIDERS HAVE MORE OPPORTUNITIES
Local service providers, such as cleaners, benefit from the boom in the vacation rental industry in many ways. By having the option of vacation rental cleaning, these service providers have the opportunity of fair pay and a wider option of jobs available.
This is an exciting time of growth and opportunity for vacation rental hosts and guests alike. As a member of the vacation rental community, you are helping travelers to experience an authentic neighborhood and the ability to live like a local.