Airbnb is an American brand, an online marketplace for homestays, staycation rentals and other tourism-related activities. For a couple of years, the platform has captured significant limelight across the globe.
The tourism industry is an ever-changing and evolving industry. Thus, now competition occurs between tour agents or hotels and among new tech-based platforms such as Airbnbs and others. The rise of Airbnb has shaped the world tourism industry in a more nuanced form, especially during the pandemic.
The rise of Airbnbs
The vacation rental company was established back in 2008, and, with the advancement and increase in the reach of the internet, the popularity of the platform also increased. Additionally, with the beginning of the COVID-19 pandemic, Airbnb properties became extensively popular globally.
GOOD SECTION: What is Ariva (ARV) crypto’s tourism ecosystem?
The platform played a major role in helping the tourism industry sustain during the pandemic. How? As coronavirus spread and restrictions were imposed, life suddenly came to a standstill. Following this, Airbnb became the first choice for people for workstations. The main advantage of booking Airbnb properties over hotels is minimum contact with others. Thus, people preferred booking more Airbnb properties during the pandemic.
How has Airbnb helped the tourism industry?
In 2021, Genesis Analytics released a report highlighting Airbnb’s contribution to tourism’s inclusive growth. Despite the tourism industry going downhill, especially in the first year of the pandemic, Airbnb continued to add output to the tourism sector and support thousands of employees globally. Airbnb properties have been the priority choice for domestic travellers in particular because it provides varied options depending on the stay requirements of tourists.
Additionally, many people faced financial challenges during the pandemic due to the job market slowdown. Thus, in this scenario, Airbnb has helped many people become an entrepreneur. People had unused properties, and during the pandemic, they furnished these properties and got them ready for rental purposes. Thus, after getting listed on the platform, thousands of people could earn an extra income through the pandemic.
MUST-WATCH: Australia Tourism Sector Gets Funding; Covid Restrictions To Ease
The tourism industry is vast. It is borderless, not only in terms of geographies but also in people. Anybody can become a part of the industry, and Airbnb has proved this. It is merely about an innovative idea to refurbish your skills to add to the industry to generate demand.
Source: © Letuve | Megapixl.com
Also, Airbnb and similar platforms have added positive competition in the travel sector. Hotel chains, earlier, dominated the tourism sector. Thus, with the advent of private rental accommodations, earnings can be made at both macro and micro levels.
FINAL READ: AIA, AIR, SKO: 3 NZX stocks to eye as travel starts to recover
Additionally, the platform is persistently advancing. Recently, in May, Airbnb added new features to the platform, calling it the biggest redesign on the platform in a decade. With increasing options for Airbnb categories, Aircovers and Splitstays, Airbnb is accessing a large share of the market across the world tourism industry.
SOURCE: KALKINE MEDIA
.jpg){kind=tracking}
