INDUSTRY UNLOCKED
Europeans turn to hosting as cost of living rises
Airbnb hopes that the European Commission will use the short term rental ( STR ) initiative to help give more EU citizens the option to share their homes to boost their income . Currently , local rules sometimes mean that EU citizens are not able to share their homes . The holiday rental company argues that these rules are often designed with large-scale tourism operators in mind and it put forward its own vision on how to unlock the benefits of hosting . The company say this is more important than ever as homeowners struggle to cope with the cost of living crisis , as it gives people the option to make money through their homes .
Airbnb started in 2008 during the Great Recession to help people afford their homes . Now , as households across the EU battle a cost of living crisis , Airbnb has shared new data on the income that hosting is generating for new hosts across the EU .
The data shows EU hosts who welcomed their first guest in the first six months of 2022 have already earned more than € 270 million . As guests seek affordable travel options across the EU , hosts have not had to wait long to generate an income from their home – half of new EU listings in Q2 2022 received a booking within just two days of being active on the platform , and three-quarters received a booking within eight days .
More than 40 % of EU hosts say they share their homes to help afford rising living costs with the typical EU host earning just over € 3,000 in 2021 – an increase of 18 % compared to 2019 and equivalent to two months ’ additional pay for the median EU household .
EU hosts have welcomed more guests on Airbnb than any other region in the world and have collectively earned more than € 43 billion by
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