Airbnb Says It Generated $US632 Million In Economic Activity In New York

AirbnbScreenshot/AirbnbA NYC apartment listed on Airbnb

Airbnb has just released a new study highlighting the
Airbnb community’spositive economic impact in New York City.

Conducted by HR&A Advisors, the study found that Airbnb, the popular peer-to-peer apartment sharing startup, generated $US632 million in economic activity in New York in one year and supported 4,580 jobs throughout all five boroughs.

Nearly 90% of Airbnb hosts rent out the home they live in and use the money they earn to help make ends meet. Meanwhile, Airbnb guests spend more time and money in New York than typical tourists.

In a statement from Airbnb, other highlights from the study were shared:

● Airbnb visitors stay on average 6.4 nights (compared to 3.9 for hotel guests) and spend $US880 at NYC businesses (compared to $US690 for average New York visitors).

● Airbnb brings visitors to neighborhoods that traditionally have not benefited from tourism. 82% of Airbnb listings in New York are outside of the main tourist hotel area of midtown Manhattan and the average Airbnb guest spends $US740 in the neighbourhood where that guest stays.

This study follows last month’s news that New York Attorney General Eric Schneiderman filed a subpoena to obtain data on thousands of New York Airbnb hosts in an attempt to tighten up laws surrounding rental properties.

Airbnb has has been cooperating with New York’s lawmakers to root out illegal hotel operators and slumlords, but it also filed a motion last week stating the subpoena was “unreasonably broad”. The company
maintains won’t turn over sweeping amounts of information on hosts who have done no wrong.

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