New Vancouver Airbnb hosts have earned $2.5M during the pandemic
Vancouver Airbnb hosts who joined the platform within the last year have raked in quite a bit of money during the pandemic — $2.5 million, to be exact.
The hefty amount was collected by new Vancouver hosts who listed just one property on the vacation rental website since March 2020, according to a new global report on Airbnb earnings released on Wednesday
That’s not including established hosts or those with multiple listings, which Airbnb didn’t provide earnings information for.
The new report analyzed worldwide earnings by new hosts over the past year in a bid to entice more people to list their residences on the website.
Airbnb attributes this influx of new listings and high revenues to the pandemic both shifting consumers’ travel preferences to more local destinations and creating a need for places where travellers can go to stay and still feel safe.
“The COVID-19 pandemic has sent travellers looking for safe, comfortable settings in which to connect with family and friends, creating economic opportunity for others to earn needed extra income by listing their homes on Airbnb,” the report reads.
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Other Canadian cities and regions also saw substantial earnings. Airbnb hosts with only one listing in Toronto took home a collective $2.5 million. One-listing hosts in the Ontario’s more rural Bancroft-Madawaska and Blue Mountain areas also brought in $4 million collectively.
That extra income “has provided a critical and urgent COVID social safety net to help stay economically afloat in these unprecedented times,” the report says. Host surveys revealed that this money was often used to pay bills.
South of the border, the average one-listing American host earned significantly more over the past year, taking in about $3,900. Warm-weather states like California and Florida brought in the most amount of money.
With files from Daily Hive’s Laura Hanrahan