Airbnb contributed over $920 million to India's economy in FY23: Research

A report based on research by Oxford Economics has claimed that Airbnb contributed over USD 920 million to India's GDP and supported over 85,000 jobs in the country between April 2022 and March 2023.

The report compares the findings for FY23 in terms of GDP contribution and jobs supported in India during the period between April 2019 and March 2020. The findings were not released for two fiscal years.

According to the report, Airbnb guests spent a total of USD 815 million in India during FY23, more than double of the FY20 levels.

In India, Airbnb's presence was the highest in Goa, where Airbnb guests spending amounted to almost USD 190 million. This was followed by Bengaluru and Delhi, Mumbai and Manali, it stated.

James Lambert, Director for Economic Consulting in Asia for Oxford Economics, said: "Domestic travellers have been crucial to the tourism sector's resilience over the past three years as Indian guests saw opportunities in domestic travel as a substitute for international holidays, with self-drive and regional trips increasing in popularity which led to a wider dispersion of tourism spend outside the traditional or 'popular' destinations in India."

Amanpreet Bajaj, Airbnb's General Manager for India, Southeast Asia, Hong Kong and Taiwan, said: "The economic contribution to both GDP and jobs driven by travel on Airbnb in India has created powerful economic ripple effects that have enabled the growth of local businesses, such as shops, restaurants, bars, and cafes -- which are often central to how travellers experience a destination -- and created job opportunities for the locals.