Airbnb contributed over INR 22 billion (USD 320 million) to India’s Gross Home Product (GDP) and supported near 50,000 native jobs in 2019 alone, based on the Oxford Economics’ The Financial Affect of Airbnb in India report.
The landmark report explores the overall financial influence of the corporate in India between 2015 and 2019. The report discovered that between 2015 and 2019 Airbnb visitor spending grew at an annualised fee of 83.4% and Airbnb’s contribution to the Indian economic system grew greater than tenfold in actual phrases.
Importantly, the report additionally highlighted how it’s spreading the advantages of tourism to native communities and supporting micro-entrepreneurship and small companies. In 2019 alone the corporate’s visitors spent greater than INR 18 billion (USD 249 million) in India, together with greater than INR 7 billion (USD 94.3 million) in native outlets and eating places.
James Lambert, Oxford Economics’ director of financial consulting in Asia, mentioned: “Airbnb is well-placed to play an vital function in bringing vacationers, and their spending, again to vacation spot economies, and in supporting the sooner restoration of home journey by serving to households, notably those that search to substitute a global journey with a home one, uncover new areas in their very own nation to go to.”
Amanpreet Bajaj, common supervisor of Airbnb in India, Southeast Asia, Hong Kong and Taiwan, mentioned: “Trying ahead, we wish to proceed to work carefully with native governments to develop high-quality, sustainable tourism, assist micro-entrepreneurship and assist communities get better as rapidly as potential. Our focus will proceed to be to drive distinctive connections between our hosts and journey communities throughout segments.”
