According to an independent study released on Tuesday surrounding the economic impact of Airbnb across the five boroughs of New York City, the vacation home rental service has been a fiscal life-preserve for residents struggling to afford their rents and business owners challenged with keeping their doors opened. One of the biggest findings the study was that Airbnb has allowed tourists to explore neighborhoods that traditionally have not benefited from tourism.
And interestingly, of the five boroughs, Brooklyn was the most popular destination overall for Airbnb users, with 28 percent of visitors choosing to stay in Kings County last year, compared to 21 percent of tourists who chose Manhattan.
In Bedford-Stuyvesant, for example, 643 residents hosted 22,450 guests in the past year, bringing in $14.5 million to Bed-Stuy– $6.1 million of which went into local households and $8.4 million to local businesses.
Other notable findings:
Airbnb generated $632 million in economic activity in New York in one year
Airbnb visitors stay on average 6.4 nights (compared to 3.9 for hotel guests) and spend $880 at NYC businesses (compared to $690 for average New York visitors)
82% of Airbnb listings in New York are outside of the main tourist area of midtown Manhattan, and the average Airbnb guest spends $740 in the neighborhood where she stays
In one year, Airbnb generated $104 million in New York City economic activity outside Manhattan
To download the pdf and see the full report, go here.