Since 2010, people from all over the world have used Airbnb to travel to Madrid and enjoy the city like a local, discovering neighbourhoods beyond tourist hotspots.
Today we are releasing new data that shows the impact Airbnb is having on the Madrid economy (Download the report). In 2016, the Airbnb community generated €447 million of economic activity in the city of Madrid, three times more than in 2014. Economic activity includes the money earned by hosts and the guest spending in local businesses.
- The 9,200 hosts in the city of Madrid welcomed 642,000 guests last year.
- Hosts keep 97 percent of the money they earn; so, in 2016, Madrid hosts earned €64 million.
- The typical host in Madrid earns €3,640 per year. 46 percent of hosts acknowledge using home sharing as a way to earn additional income to help make ends meet.
- The vast majority of Airbnb hosts in Madrid are individuals who share the home they live in. 56 percent of hosts share their primary residence.
- Travellers using Airbnb for accommodation in Madrid spent €383 million in local businesses – such as restaurants, cafes and local shops
- 24 percent of total guest spending is done in the same neighbourhood where they stay.