Airbnb generates $402 million in economic activity in Vancouver

VANCOUVER, Nov. 1, 2016 /CNW/ - A new report written by Dr. Brock Smith, a professor in the Faculty of Business at the University of Victoria, shows that Airbnb guests and hosts generated $402 million in local economic activity in Vancouver in the past year.

The economic impact report looks at guest travel from September 31, 2015 to August 31, 2016, a period where roughly 267,000 guests booked their stay with Vancouver's Airbnb hosts and directly spent almost $180 million at local businesses during their stay.

"This level of economic activity supports more than 9,100 full-time equivalent jobs for the City of Vancouver," said Dr. Smith. "When you look at the overall drivers of economic activity in Vancouver, this is a meaningful contributor."

Airbnb tends to attract visitors who stay longer and spend more money in local neighbourhoods. Airbnb guests report that more than half of their daytime spending in Vancouver is spent within the neighbourhood where they stay.

"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," said Alex Dagg, Public Policy Manager for Airbnb in Canada. "Vancouver is home to a growing community of responsible Airbnb hosts that love their city and want to help local businesses flourish."

Hosting on Airbnb also helps everyday Vancouverites make ends meet. The typical Vancouver host earns $6,500 a year in modest, supplemental income.

About Airbnb

Founded in August of 2008 and based in San Francisco, California, Airbnb is a trusted community marketplace for people to list, discover, and book unique accommodations around the world – online or from a mobile phone. Whether an apartment for a night, a castle for a week, or a villa for a month, Airbnb connects people to unique travel experiences at any price point, in more than 34,000 cities and 192 countries. And with world-class customer service and a growing community of users, Airbnb is the easiest way for people to monetize their extra space and showcase it to an audience of millions.

SOURCE Airbnb

PDF available at: http://stream1.newswire.ca/media/2016/11/01/20161101_C3062_PDF_EN_808801.pdf

For further information: Patricia Favre, pfavre@navltd.com, 647-290-6320


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