‘Homestay marketplace Airbnb contributed $920 mn to Indian economy in 2022; created 85,000 jobs’

October 03, 2023 09:23 pm | Updated 09:26 pm IST - Bengaluru

Airbnb, a U.S.-based online marketplace for short- and long-term homestays and experience, contributed more than $920 million to India’s Gross Domestic Product and supported in the creation of more than 85,000 jobs in 2022 alone, according to Oxford Economics, a global economic forecasting and econometric analysis outfit.

The company’s contribution in terms of revenue and jobs has more than doubled since 2019 despite the outbreak of COVID-19 and international border restrictions, it added.

In 2022, Airbnb guests spent a total of $815 million on transportation, restaurants, retail stores, and retail stores in the country, as per the study.

Goa has seen Airbnb’s highest presence, where its guests spent $190 million, this was followed by Bengaluru and Delhi, Mumbai and Manali.

James Lambert, Director for Economic Consulting in Asia for Oxford Economics said, Airbnb had clearly played a major role in the resilience and rebirth of the Indian travel and tourism sector in the wake of the COVID-19 pandemic.

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