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12° Nicosia,
30 September, 2022
 

Cost of living crisis pushing people to become Airbnb hosts

Hosts across the EU have said that it has helped them cover rising costs for food and other essentials

Source: Schengen Visa Info

A recent study by Airbnb conducted with more than 70,000 EU hosts and guests reveals for the first time that the cost-of-living crisis is pushing people to become hosts on Airbnb.

The EU is consulting on harmonized EU rules for short-term rents that can unlock the benefits of waiting as the cost of living has also risen, and families are looking for new ways to increase income.

According to this analysis, over 40 percent of hosts across the EU say the reception has helped them cover rising costs for food and other essentials. Meanwhile, over a third say extra income helps them afford to live, SchengenVisaInfo.com reports.

In 2021, the typical EU host earned over €3,000, equivalent to two months of extra payment for the average EU family.

“The vast majority of Hosts are regular people, and three-quarters of EU Hosts share only one listing. Nearly 1 in 5 EU Hosts or someone in their household work in either education or healthcare. More than half are women, over a half are in full or part-time employment, and over a quarter are retirees,” the statement issued by Airbnb reads.

In addition, the survey also shows that the rising cost of living is pushing guests to look for more affordable family travel on Airbnb.

Last year another study by Oxford Economics found that Airbnb travel supports almost 345,000 jobs in the EU and generates nearly €19 billion of GDP contribution through guest spending.

In this regard, Airbnb Policy Director Juliette Langlais says that as the cost of living crisis continues, everyday Europeans across the bloc are increasing their incomes by opening their homes on Airbnb.

“Airbnb supports the EU’s work to update its rules and has put forward proposals that would unlock the benefits of hosting for families across the EU while clamping down on speculators and giving governments the tools they need,” she also added.

The EU, in this situation, is consulting on harmonized EU rules for short-term rents that can unlock the benefits of waiting as the cost of living has also risen, and families are looking for new ways to increase income.

Due to local rules that can be difficult and disproportionate, EU citizens are currently unable to take advantage of the economic opportunities that home sharing brings.

Thus in response to the EU consultation, Airbnb has submitted proposals to the EU Reception Action Plan, which the company launched in response to the EU Commission consultation on the short-term lease initiative.

According to Airbnb, these rules support the reception of ordinary Europeans while suppressing speculators and giving governments the tools they need to tackle issues related to superstition.

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