Recent Release | 13 Dec 2023
The economic impact of Airbnb in APAC
Economic Consulting Team
Oxford Economics
Oxford Economics was commissioned by Airbnb to explore the economic impact of Airbnb in APAC, in the context of the tourism recovery and this new travel landscape. This study quantifies the economic footprint of travel and tourism activity related to Airbnb in 10 APAC countries, from 2019 to the first full year after the reopening of international travel, referred to as 2022* (the 12 months to March 2023).
Airbnb is at the heart of many of the new trends driving change in the travel sector. The platform’s uniquely flexible supply of accommodation has enabled APAC destinations to adapt to changing travel constraints and shifting consumer demands. In doing so, major trends reshaping the industry are being catalysed by the Airbnb platform.
We estimate that Airbnb’s activities contributed US$ 22.5 billion to APAC GDP in 2022*. The rapid recovery of tourism spend via Airbnb travel since the pandemic meant that its GDP contribution in 2022* was already 5% higher than in 2019, in real terms. In addition, we estimate that Airbnb’s activities supported a total of 652,700 jobs across APAC in 2022*. This Airbnb-linked employment is associated with some USD 7.2 billion in wages paid to these workers.
To learn more about this research, please click here.
The experts behind the research
Our Economic Consulting team are world leaders in quantitative economic analysis, working with clients around the globe and across sectors to build models, forecast markets and evaluate interventions using state-of-the art techniques. Lead consultants on this project were:
Qi Yu Chan
Economist, Economic Impact Consulting, Asia
Liam Cordingley
Lead Economist, Economic Impact Consulting, Asia
Dave Goodger
Managing Director, Tourism Economics, EMEA
Tags:
Recent Economic Impact reports
Urenco’s socioeconomic impact on the UK economy
Urenco provides uranium enrichment services and fuel cycle products for nuclear power generation. Operating in a pivotal area of the nuclear fuel supply chain for over 50 years Urenco serves more than 50 customers in 19 countries, facilitating zero carbon electricity generation for consumers around the world.
Find Out More
Using economics to improve business dialogue with governments in Asia
In Oxford Economics’ Singapore office, overlooking the historic Singapore river, we count as our neighbours the Asian headquarters of most the world’s major multinational companies.
Find Out More
Helping Us Help Them: Lessons from Five Years Consulting with Asia-based Clients
This “winter” marks my fifth year in Asia, after moving from London to Singapore to help build Oxford Economics’ consulting business in the Asian market.
Find Out More
State of German Fashion
The latest report from Oxford Economics and the Fashion Council Germany analyses the economic impact of the fashion industry on the German economy in 2023, looking at key aspects such as employment, GDP contributions and tax revenues generated.
Find Out More