AIR BNB
3. Economic Impact: Airbnb’ s Role in local Economies
The Local Picture
AIR BNB
3. Economic Impact: Airbnb’ s Role in local Economies
Global Observations
• In 2023, Airbnb claimed it supported $ 150 billion USD in economic activity worldwide.
• Hosts are no longer“ just locals”- many are property managers, developers, and investors building professional hospitality businesses.
• Airbnb is investing $ 200 –$ 250 million into platform expansion and new services( announcement expected mid-2025).
The Local Picture
• Airbnb contributed R23.5 billion to the South African economy in 2022.
• Airbnb claims to have supported nearly 50,000 jobs- cleaners, cohosts, photographers, handymen, and managers.
• In Cape Town alone, guests spent R14.4 billion in 2023, making it one of the most valuable STR markets in the Southern Hemisphere.
Investor Tip: Think beyond accommodation. Could you bundle experiences, offer airport transfers, or partner with a local cafe or tour guide?
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