Saturday , September 30 2023
Home / News / Economy / Online rentals benefited Greece by $1.4billion, says Airbnb

Online rentals benefited Greece by $1.4billion, says Airbnb

The Greek economy benefited from Airbnb by 1.4 billion US dollars in 2018, the online rentals platform said in a press release. Airbnb released statistics for over 30 countries about the “direct economic impact” of the platform. The data are based on host income and estimated guest spending- in USD during trip.

According to the platform, the rentals benefit directly the local society where owners live, as they promote local activities, places to see and eat, and neighborhood history.

A company analysis estimated that owners and travellers together created over 100 billion US dollars in estimated benefit to all 30 countries listed.

The estimates, Airbnb said, were based on owners’s revenues and travellers’ reports of spending in the duration of their stay.

Travellers themselves said that 42 pct of their spending took place in the neighborhood the rental was located. They also said that Airbnb had led them to extend their trip by an average of 4.3 days.

According to the Airbnb statistics, Greece is on the 14th place following Germany, China and Brazil:

The online rentals platform notes that *2018 estimated direct economic impact is the sum of Homes host earnings and estimated guest spending. Host earnings is based on internal Airbnb data. Estimated guest spending is based on nearly 12,000 responses to a voluntary survey sent to a sample of Airbnb guest accounts that had taken a trip to those countries in 2018. No payment or other incentive was provided in exchange for completing the survey.

PS As long as everyone pays the taxes, it’s fine with me. Pity only for locals that they can hardly fin 1- to 2-bedroom apartments anymore.

Check Also

Greek state budget primary surplus at €5.596 billion an-Aug

The Greek state budget showed a primary surplus of 5.596 billion euros in the January-August …

One comment

  1. Xenos_sthn_A8hna

    If the economic model of AirBNB consisted of ordinary cash-strapped householders renting out a spare room or two, or even a whole apartment when they are away on holiday, then I would have no criticism of it. The fact is that the online system is being abused by big business — one hears in particular of Chinese investors — who buy entire buildings and effectively turn them into illegal hotels. The result is that the State receives much less in taxes, the profits from the rentals do not benefit locals, and — most important — the effect on the housing market is to reduce the housing stock (especially rented) thereby forcing up prices or simply making rented property unavailable.

    Overall, the nett economic impact of AirBNB in its current modus operandi is very damaging to hte mainstream economy and to ordinary people. Outfits like this and Uber are parasitic: they take advantage of new technology to evade taxes, employers; obligations, property obligations and other laws. Many cities have more or less banned them, for these reasons. There are also political initiatives at the EU level to do something.