I’ve spent a lot of time in New York over the past few weeks, and it has been truly inspiring. I’ve met with dozens of Airbnb hosts, and again and again I have heard amazing stories about how hosting has made it possible for them to get back on their feet, meet new people, and share New York with the world. Some hosts told me how Airbnb helped them stay in their home and pay the bills during tough times. Others told me stories of neighborhoods coming together to make sure that there was space for family visiting from around the world. And nearly every host I met talked about how their guests contribute to the shops and businesses in their neighborhoods.
These are more than just isolated anecdotes. In just five years, Airbnb has become a positive economic and social force in New York. I have met with dozens of people contributing to the fabric of this city, but there are thousands more out there I have yet to meet. And while talking to individual hosts is inspiring, I know not everyone can speak to them. Thankfully, we have data to back up those conversations, and the data tell an amazing story.
This afternoon, I participated in a press conference where we highlighted a new study that examines the data behind these stories. According to a study released today that examines Airbnb’s economic impact in New York:
- Airbnb generated $632 million in economic activity in New York in one year
- 87% of Airbnb hosts rent out the home they live in, and the typical host earns $7,530 per year
- 62% of Airbnb hosts say Airbnb helped them stay in their homes
- Airbnb visitors stay on average 6.4 nights (compared to 3.9 for hotel guests) and spend $880 at NYC businesses (compared to $690 for average New York visitors)
- 82% of Airbnb listings in New York are outside of the main tourist area of midtown Manhattan, and the average Airbnb guest spends $740 in the neighborhood where she stays
- in one year, Airbnb generated $104 million in New York City economic activity outside Manhattan
You can read more details about the study via our official press release. There’s no doubt that Airbnb is contributing to the economy in New York, and we look forward to continuing to work with policymakers to make Airbnb and New York even stronger.
Find the full report here.