Airbnb Has Generated More Than $632 Million in NYC Economic Activity

AirbnbAirbnb has just released a new study highlighting the Airbnb community’s positive 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 $632 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 $880 at NYC businesses (compared to $690 for average New York visitors). Airbnb brings visitors to neighborhoods that traditionally have not benefited from tourism. Read the full story at Business Insider and the full press release at Airbnb's website.