Airbnb gives £2bn boost to the London economy

New data from Airbnb reveals that guests and hosts on the platform generated over £2bn for the London economy in 2018 alone.

Guest spending in London neighbourhoods and communities accounted for more than three quarters (£1.6 billion) of the total figure generated for the city. Guests are estimated to have spent on average £164 per day on activities like cultural experiences, sightseeing, shopping, travel and food and drink. Londoners who shared their space on Airbnb also enjoyed a boost to their income, collectively earning almost £400m in the past year by welcoming over 2.5m guests who chose Airbnb to stay in London.

Based on estimated guest arrival numbers in 2018, the top ten destinations in the UK for Airbnb guests are:

  1. London
  2. Edinburgh
  3. Glasgow
  4. Bristol
  5. Manchester
  6. Brighton
  7. Liverpool
  8. Belfast
  9. Bath
  10. Cardiff

This growth is accompanied by insights from the Airbnb community, which found:

  • Domestic travel made up an estimated 28% of Airbnb guest arrivals to London, followed by the USA, France, Germany and Australia
  • 72% of guests who stayed with Airbnb in the UK say they use the platform to live like a local
  • Around the world 50% of travellers who saved money staying with Airbnb spent it in the neighbourhood they call home during their trip, and those who say Airbnb impacted the length of their stay on average added 4.3 days to their trip.
  • Guests are also benefiting from hosts’ knowledge of the local area, with 84% of hosts saying they recommend restaurants and cafes to guests and 69% offering their knowledge on cultural activities such as museums, festivals and historical sites.

Full article here.