Short-term rental accommodations, such as Airbnb – are growing in popularity with 651,600 people using the site to access accommodation in Victoria over a one-year period.
A report released by Deliottes has revealed just how much short-term rental accommodation is contributing to Australia’s economy.
In a one-year period Airbnb bookings amounted to $413 million to Victoria alone. The second highest figure for any state after New South Wales. But this figure doesn’t include money spent in a number of other categories when people are on holidays.
It was also reported that Airbnb guests spent over $625 million in Victoria in 2015-16 on additional expenses such as groceries, dining, shopping and transport.
“It’s just like a home away from home”, says Ochra Bretherton, a regular user of Airbnb.
A guest arriving at a house listed on Airbnb. (Photo: Mikaela Ortolan)
Not only is short-term stays contributing to the economy, but reports also indicate it is a great source of additional income for the hosts.
Susan has had her Kennington property listed on Airbnb since January 2016 and says she loves being an Airbnb host.
“Their processes work very well, guests come for all sorts of reasons – tourism, work, study, sports and music festivals – and from all places.”
The Deliottes report revealed that Airbnb hosts earn a median income of $5,500 each year.
Susan says listing her site on Airbnb has been a great way to meet people from around the world.
“I have had the opportunity to travel widely in Australia and overseas, and to meet many different people. Being an Airbnb host and guest gives me the chance to do both.”
Sites such as Airbnb are supporting tourism in Australia by acting as a source of advertisement for Australian destinations.
“It is great to hear all the tales they have to tell about the places they have been as well as where they come from.”
The report also revealed that Airbnb supports 4,084 jobs in Victoria alone.
The Victorian Visitor Economy Strategy released earlier this year outlined its aim to increase visitor spending to $36.5 billion by 2025. With short-term rental accommodation on the rise, this goal is one step closer to being achieved.
