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Airbnb provides critical and urgent COVID social safety net in unprecedented times

Posted at 8:19 AM, Mar 03, 2021
and last updated 2021-03-03 10:20:05-05

Families and workers around the world have struggled financially because of the economic hardship caused by the pandemic, and in the US, one in four adults have had a hard time paying bills and one third have tapped their savings or retirement funds. For many, sharing their homes on Airbnb has provided a critical and urgent COVID social safety net to help stay economically afloat in these unprecedented times.

According to a new report [news.airbnb.com] from Airbnb, in the US, the typical new Airbnb host with only one listing earned $3,900 since March 2020. Globally, new hosts have earned $1 billion.

This is income being used to pay important bills. Half of all hosts worldwide use their Airbnb earnings to stay in their homes. During the pandemic, three in 10 US hosts (29 percent) have used their hosting income to pay their rent or mortgage—including half (49 percent) of hosts aged 25-34. One quarter of hosts (26 percent) have used the income to pay down debts, and 10 percent have used it to pay for healthcare.