Airbnb contributed over US$320 million (INR 22 billion) to India’s Gross Domestic Product and supported close to 50,000 local jobs in 2019 alone, according to the Oxford Economics’ “The Economic Impact of Airbnb in India” report.
The landmark report explores the total economic impact of Airbnb in India between 2015 and 2019. The report found that between 2015 and 2019 Airbnb guest spending grew at an annualized rate of 83.4% and Airbnb’s contribution to the Indian economy grew more than tenfold in real terms. Around 83% of the guests staying in Airbnb’s India listings in 2019 were domestic visitors, 34% higher than in 2015.
Importantly, the report also highlighted how Airbnb is spreading the benefits of tourism to local communities and supporting micro-entrepreneurship and small businesses. In 2019 alone Airbnb guests spent more than USD $249 million (INR 18 billion) in India, including more than USD $94.3 million (INR 7 billion) in local shops and restaurants. Rs 6500 out of every Rs 10,000 Rs spent outside accommodation by Airbnb guests in India went on shopping or food.
Amanpreet Bajaj, General Manager – Airbnb India, Southeast Asia, Hong Kong and Taiwan, said “The recovery of tourism and the recovery of the Indian economy are inextricably linked. The report shows how the authentic, affordable, and sustainable travel experiences offered by Airbnb can help accelerate recovery and create value for local microentrepreneurs, businesses and local communities. Looking forward, we want to continue to work closely with local governments to grow high-quality, sustainable tourism, support microentrepreneurship and help communities recover as quickly as possible. Our focus will continue to be to drive unique connections between our hosts and travel communities across segments.”