Airbnb to contribute 340 billion euros to the European economy by 2020

Α Decrease font Enlarge font
Airbnb to contribute 340 billion euros to the European economy by 2020Airbnb puts €5M into ‘Community Tourism Program’ fund for local projects in Europe

According to recent media reports, Airbnb has become of the more popular ways of travelling around Europe, offering visitors to cities and regions home-based alternatives to staying in impersonal or expensive hotels when they are away from home.

The company continues to grow — to an estimated 24 million stays by 2020 in the region and is announcing a new fund called the Community Tourism Program — committing to give $5.6 million (€5 million) to projects in Europe that help foster local customs and traditions.

The community fund is the first of its kind for Airbnb — although it fosters local community development, this is the first time that it will back that up with funding.

“The question is, how do you support emerging tourism,” Chris Lehane, Airbnb Global Head of Public Policy and Public Affairs, noted in a call with journalists about the fund. “We have had a lot of success doing one-off projects in Europe and we want to put this in place and take it to the next level.”

Alongside that, Airbnb is announcing some milestones in how it’s contributing to the economy: specifically it’s projecting that it will contribute some €340 billion in economic output across communities in Europe by 2020 (including not just the accommodation, but the additional spending visitors will do once they are staying in an Airbnb somewhere).

It also said that some 1 million jobs will be tied to what we might call “the Airbnb economy” by that time.

Funds from the Community Tourism Program will be available to charities, non-profit agencies and community social groups “in need of financial support for innovative local projects.” This is Airbnb’s way of essentially providing a philanthropic angle to its message that it boosts the local economy.

“We want to work with communities to help boost and preserve the qualities that make them unique,” said Lehane. “Airbnb has a long history of supporting progressive local initiatives that boost communities and bring people together, and we’re excited to continue that tradition here in Europe.”

Some of the areas that Airbnb will be focusing on include “Placemaking” — essentially work focused on public spaces; innovation — new tech-based initiatives to “reinvent” tourism; and Festivals and events funding.

Last week, Lehane spoke at the OECD Forum about Airbnb helping bridge digital divides: “More people are staying with each other using Airbnb in Europe than anywhere else on earth,” he said. “It is a healthy and sustainable form of tourism that ensures benefits stay right here in Europe and are enjoyed by many, not kept in the hands of a few.”

Airbnb says that a typical host on its platform in Europe made €2,400 and on average rents or shares his/her space for 27 nights in 2016.

Airbnb, which is now active in 191 countries and expected by many to file for an IPO, is now worth some $31 billion after raising $3.4 billion in funding, and it says it is now profitable.

Read more here.

RELATED TOPICS: GreeceGreek tourism newsTourism in GreeceGreek islandsHotels in GreeceTravel to GreeceGreek destinations Greek travel marketGreek tourism statisticsGreek tourism report

 

 

Tornos
  1. 15/12 02:44

    The eternal glow of the Land of Olympia in Western Greece

  2. 15/12 02:33

    Greek PM calls for meeting with Juncker and Merkel on EU-Turkish relations

  3. 15/12 02:27

    Report: What did Greeks google the most during 2017

  4. 15/12 02:21

    Cyprus, Greece and Armenia in joint activities to promote issues related to the diaspora

  5. 15/12 02:17

    Legal saga for six ex-members of Greek privatization agency drags on

  6. 15/12 02:05

    Portable hotels: Latest trend in luxury travel eyes major expansion by new investment

  7. 14/12 19:25

    Chinese Cosco interested in second Thriasio Plain logistics tender

  8. 14/12 19:20

    Report: Snow batters Europe while the Sun shines in Greece

  9. 14/12 19:15

    Anarchist Rouvikonas group attacks Saudi Arabia Embassy in Athens (video)

  10. 14/12 19:11

    Greek-American actor John Stamos expecting child with fiancée at 54

  11. 14/12 19:07

    Prime Minister: Greece will not accept any changes to EU refugee deal

  12. 14/12 18:52

    United States accuses Turkey of supporting extremist groups around the globe

  13. 14/12 18:45

    Archaeologists unearth Greek Goddess Artemis’ Statue in Luxor

  14. 14/12 18:10

    Simon Fraser University's new program on ‘Rebooting the Greek Language’

  15. 14/12 18:02

    Greek President Pavlopoulos attends anniversary of Laskaridis Foundation

  16. 14/12 17:54

    National Bank: Tourism drives Greece’s recovery

  17. 14/12 17:41

    Greek banks eye €9.5 billion in capital after IFRS 9 and stress tests

  18. 14/12 17:34

    Labour minister declares December 26 as obligatory holiday in Greece

  19. 14/12 17:26

    Official dinner and Leadership Award held at Capital Link Forum on Greece

  20. 14/12 17:19

    Bank of Greece circulates first collectible coin with color

  21. 14/12 17:09

    EU Vice President calls for European solution to migration crisis

  22. 14/12 17:01

    EU court rejects Greek motion to annul EC decision on state aid to Piraeus

  23. 14/12 16:48

    Modern French Baraka circus in Elefsina, Cultural Capital of Europe 2021

  24. 14/12 15:43

    Turkish President accuses Donald Trump of having “zionist” mentality

  25. 14/12 11:33

    Magical trip to mountainous Nafpaktia region in central Greece

  26. 14/12 10:02

    Massive general strike shuts down Athens, transport and government

  27. 14/12 01:01

    German Tourism: Egypt and Greece are top winners of 2017 travel market

  28. 14/12 00:01

    UN Envoy Nimetz still considers FYROM name dispute solvable

  29. 13/12 23:55

    Government-appointed Experts Committee urges immediate start of Helleniko project

  30. 13/12 23:48

    The top-10 Ancient Greek inventions and discoveries still in use today

  31. 13/12 23:43

    EU Commissioner slams Council President over refugee quotas

  32. 13/12 23:38

    Latest poll: Greek opposition on the verge of absolute majority

  33. 13/12 23:32

    Greek court backs Russian bitcoin fraud suspect’s extradition to U.S.

  34. 13/12 23:20

    “Greek Day” at NYSE with Finance Minister ringing the closing bell

  35. 13/12 23:15

    US Congresswoman urges FM to reject Erdogan’s remarks on Greek borders

  36. 13/12 23:00

    Mom and daughter find clay lamp from Hellenistic Period in Israel

  37. 13/12 22:05

    Lampsa adds third Athens' Syntagma hotel to its group

  38. 13/12 21:58

    Greek resort won top European Award at Swiss event

  39. 13/12 21:51

    Report: Europe’s top city destination is located in Greece

  40. 13/12 21:45

    Greek city of Thessaloniki to build Jewish school and new Holocaust Museum

  41. 13/12 20:47

    IMF's Lagarde reiterates that restructuring Greece’s debt is essential

  42. 13/12 20:40

    Deutsche Bank forecast: Greece will make it out of the crisis

  43. 13/12 20:32

    Report: Which are the three investments that could change Greece’s fate

  44. 13/12 20:23

    Parameters of Greek bank stress tests to be announced in early January

  45. 13/12 20:13

    Counter-flooding project at Greek-Bulgarian river borders to kick off

  46. 13/12 20:01

    When will Greece's Panathinaikos team be kicked out of European football

  47. 13/12 19:52

    Greek shops required to charge for plastic bags after January 1st 2018

  48. 13/12 19:09

    14 Turkish Air Force jets violate Greek air space over the Aegean Sea

  49. 13/12 17:42

    Greek government to unveil e-auction platform replacing courtroom process

  50. 13/12 15:32

    Which EU Chief wants all refugees to remain in Greece and Italy

  51. 13/12 13:24

    Ergani: 128,230 new jobs in Greece during first 11 months of 2017

  52. 13/12 11:15

    The Greek-American who played key role in capture of bomber in NYC

  53. 12/12 23:41

    UK historian Mary Beard connects Greek myths and Twitter trolls

  54. 12/12 23:34

    Eirini from Crete sings US anthem in Gianni's game at Boston Garden (video)

  55. 12/12 23:29

    Greek FinMin rejects concerns about Ethniki Insurance and its investors

  56. 12/12 23:25

    Tito’s granddaughter questions viability of ‘Macedonia’ as talks with Greece restart

  57. 12/12 23:24

    TrainOSE trains to stop running in observation of 24hr strike on Thursday

  58. 12/12 23:14

    Athens metro, tram and train to operate only from 09.00-21.00 on Thursday

  59. 12/12 23:10

    Giannis to take part in GNTO campaign to attract US tourists

  60. 12/12 23:06

    Fraport Greece: Kavala airport project to be completed by 2019

  61. 12/12 23:02

    Third rail provider license to be approved in Greece

  62. 12/12 22:55

    Visit Greece for dreamlike winter walks as well

  63. 12/12 22:50

    Union work stoppage to alter Olympic Air flights on Thursday

  64. 12/12 22:44

    'Georgios Averoff' sets sail from Thessaloniki returning to Piraeus port (video)

  65. 12/12 22:38

    Stricter laws and crackdown on foreign-flagged pro vessels in Greek waters

  66. 12/12 22:30

    Athens Christmas Factory 2017 to stay open until 7 January 2018 in Technopolis, Gazi

  67. 12/12 22:25

    Tourism Minister calls on foreigners to invest in Greece

  68. 12/12 22:01

    Draft bill to allow marinas' management transfer to local bodies in Greece

  69. 12/12 20:16

    Lithuanian-based technology firm BitREC expanding to Greek market

  70. 12/12 20:12

    Mitsotakis: Climate change the greatest long-term threat to Greece

  71. 12/12 20:06

    Main opposition ND: We expect the Greek government to implement privatizations

  72. 12/12 20:02

    Erdogan interview: Turkish-Cypriots “joint owners” not minority

  73. 12/12 19:22

    4.1% decrease in building activity across Greece in September

  74. 12/12 18:45

    Eurostat: Greece has the highest tax rises in the European Union

  75. 12/12 15:10

    Israeli PM slams Turkish President over Jerusalem issue

  76. 12/12 13:57

    Authorities: Sixth bear killed in road accident in northern Greece

  77. 12/12 11:21

    PM: Greek state saved €764 million by renegotiating four highway projects

  78. 11/12 23:05

    Global Blue Hellas: Tax Free transactions soar in 12-month period

  79. 11/12 21:16

    Tourism: Athens in top-10 destinations for Scandinavians for Q1 2018

  80. 11/12 21:03

    Acclaimed King's College Choir to make a first appearance in Athens

  81. 11/12 20:56

    No trolleys in Athens on Thursday from 9am to 9pm due to work stoppage

  82. 11/12 20:48

    Greek banks team up to offer settlements to 170,000 debtors

  83. 11/12 20:43

    Prime Minister: We invite American investments to Greece

  84. 11/12 20:41

    FYROM and Greece back to the name game bargaining table

  85. 11/12 20:38

    Moody's credit positive: Greek banks meet non-performing exposure targets

  86. 11/12 20:33

    Cyprus airports celebrate surpassing 10-million-passenger milestone

  87. 11/12 20:25

    New York City fashion event helps save lives of women in Greece

  88. 11/12 20:16

    Extended shop opening hours for Christmas in Greece

  89. 11/12 20:10

    Athens Airport tops 2016 passenger total by end of November 2017

  90. 11/12 20:05

    Passage through the scenic Corinth canal a part of Greek history

  91. 11/12 19:55

    The Archaeological Museum of Eleusis: A true hidden treasure

  92. 11/12 18:29

    The three best performing Greek islands in tourism for 2017

  93. 11/12 18:23

    4th Greek Tourism Expo: Medical tourism a 'golden opportunity' for Greece

  94. 11/12 17:46

    Energy minister: Government seeks fair price for sale of stake in DESFA

  95. 11/12 17:40

    Body of mountain climber recovered from steep cliff on Mount Olympus in Greece

  96. 11/12 17:29

    Report: New light cast on tanker sinking in Saronic Gulf

  97. 11/12 15:24

    Greek trade deficit up by 20.6% during October 2017

  98. 11/12 13:17

    Bild: Rise in migrants trying to enter EU from Greek airports with forged travel docs

  99. 11/12 11:08

    1.13 million applications for 'social dividend' approved so far in Greece

  100. 10/12 17:49

    Prime Minister: Greece supports Serbia’s European Union bid