Are you curious about the Airbnb market in 2024? Perhaps you’re an Airbnb host, and you’re wondering about the global state of the platform. Or perhaps you’re just interested in companies, capital and international markets. Whatever the case, this article will shine a spotlight on the Airbnb market in the current day. We’ll cover some interesting statistics and figures about this market, so you’ll be fully informed by the time you’ve finished reading. So, continue to learn more about this interesting topic.
Overall Statistics
First, let’s begin with some overall statistics as of this year. Across the globe, there are over 5 million Airbnb hosts and over 7.6 million currently active listings on the accommodation platform. Over 100,000 cities around the world have current Airbnb listings within them. There are more than 150 million global users of the platform, and between them, they have booked 1.5 billion stays. This is a staggering figure.
Six guests check into an Airbnb location every single second of each day. Every moment there are also people checking out as well.
In terms of average cost, in North America, the cost of a stay is approximately USD $163 a night, and most guests stay for around 4.3 nights per booking. Here is an interesting Airbnb app use statistic: it takes a user around 11 minutes and a half to book a stay on the app.
Airbnb is best used as a passive income stream, as the average host earns around $13,800 USD per annum from their property listed on the platform. Some people host full-time if they have enough properties to sustain a regular income from the platform.
The company is currently valued at $113 billion, which is a staggering amount. The platform currently has over 20% market share of the holiday rental industry worldwide, competing with hotels and other accommodation providers.
Global Listings
Some of these statistics are older than 2024 but are still interesting to explore. Globally, in 2021, there were 12.7 million listings on the platform. This is down slightly from the previous year when there were 14.3 million listings. That’s an over 210% reduction from one year to the next.
In terms of continental regions, Europe has the most listings, with over 4 million in 2021. Closely following is the Asia Pacific region, with over 3 million listings. Next is North America, with around 2.5 million listings, and next is Latin America, with around 1.7 million listings. Africa is the continent with the lowest listings, with only around 367,000.
Global Demand
Now, let’s discuss the global demand for Airbnb listings. Demand is calculated by the total number of nights guests stay in each region per year. In 2021, there was an increase of 42% or so from 2020, with around 251 million total nights stayed across Airbnb properties during that year. That figure increased in 2022, with around 393 million nights stayed, which is a 31% increase from 2021. The global demand is highest in Europe and lowest in Africa, with North America and the Asia Pacific region making up the middle band.
Gross Revenue
The global gross (total, before expenses) revenue from Airbnb locations rose from 27 billion in 2020 to nearly 29 billion in 2021, a huge increase of over 76%. This time, North America came out on top, with an over 10 billion increase, due to the fact that North American listings tend to cost more. However, Latin America experienced the biggest increase by pure percentage growth, rising over 80% in gross revenue.
Airbnb Commission Revenue
The platform earns a commission fee on each listing, which is how the company remains profitable. Airbnb’s revenue from its listings almost doubled worldwide from 3.88 billion to 6.85 billion from 2020 to 2021. In 2024, the company’s revenue was over 15 billion, which is over double again from 2021.
North America is Airbnb’s biggest growth region, and Europe follows closely behind. Together, these two regions make up over 80% of the company’s total revenue.
Airbnb Market Overview
As the above statistics have demonstrated, Airbnb is a global titan in the short-stay accommodation space, especially in areas like Melbourne which see a considerable amount of tourism year-round. The company’s unique business model, which means it owns none of the properties and instead allows hosts to earn money while the company takes a commission, is a savvy one. Similar companies exist in other markets, such as rideshare and food delivery platforms. The company has grown in the last few years, with more listings available, bigger revenue and increased stays. The current Airbnb market is healthy and is likely to grow year on year.
A Short Stay Summary
This informative article covers the 2024 Airbnb market, with some interesting statistics from prior years also discussed. The market is booming, and the platform is also a great opportunity for property owners to earn passive income or a full-time income stream for hosts with multiple properties.
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If you’re interested in putting your property on Airbnb, but want some professional assistance in getting your property noticed in the crowd, Oasis Stay is here to help. To learn more, contact our Airbnb hosting team today.
