Airbnb hosts in Vancouver have been welcoming guests into their homes since 2009. For the past 7 years, home sharing has allowed Vancouverites to turn their homes into a tool that helps them make ends meet.
At the same time, Airbnb guests visit stores, coffee shops and restaurants in the neighbourhood where they’re staying – which supports local businesses and helps create jobs in the community.
Today, we’re excited to release an economic impact report written by Dr. Brock Smith, a professor at the University of Victoria. The new report is based on data from September 31, 2015 to August 31, 2016. During that time, roughly 267,000 Airbnb guests visited Vancouver.
Below are some key highlights from the report and some stats about our community in Vancouver:
- Responsible home sharing fuels the local economy. Airbnb guests and hosts generated $402 CAD million in local economic activity with guests spending a total of almost $180 CAD million at local businesses during their stay.
- Our community helps build up and strengthen our city. This economic activity supports more than 9,100 equivalent full-time jobs.
- Hosting helps everyday Vancouverites make ends meet. The typical Vancouver host earns $6,500 CAD a year in modest supplemental income. Hosts keep 97 per cent of their earnings from the Airbnb platform.
- Airbnb attracts visitors who stay longer and spend more money in local neighbourhoods. 52 per cent of daytime spending by Airbnb guests to Vancouver was spent within the neighbourhood economy.
Vancouver is home to a growing community of responsible Airbnb hosts that love their city and want to help local businesses flourish. While Vancouver is already seeing the benefits of home sharing, we believe that as Vancouver grows, there is even more potential for economic growth and our community looks forward to harnessing this potential.