Aussies $11.5k bounce in cost-of-living crisis

Aussies $11.5k bounce in cost-of-living crisis

Australians, hit hard by the cost of living crisis, are looking for new ways to make more money, and many are considering becoming Airbnb hosts for the first time, according to the billionaire co-founder.

The typical host in Australia made nearly $11,500 from his listing last year, new Airbnb data released Thursday revealed.

Meanwhile, total revenue from hosts worldwide grew 30 percent in the third quarter compared to the same period last year, Airbnb said.

Hosts are using this extra money to cover mortgage payments, necessities and rising expenses, the accommodation provider added.

According to a recent survey, nearly 40 percent of Australian hosts said the money they made from hosting helped them stay in their home, with 41 percent saying they used the extra money to Food and other items to pay for become more expensive.

Airbnb was actually founded during the global financial crisis, but had to lay off 25 percent of its workforce during the pandemic.

Airbnb co-founder Nathan Blecharczyk said more than 30 million people visited Airbnb’s hosting site in the last year to potentially list their home, while only 4 million hosts are currently listed on the platform.

“We’re living in times of increasing economic uncertainty, with inflation and the possibility of a recession, and you know, it reminds me a lot of when we started the company,” said Mr. Blecharczyk The Australian.

“Many of our first hosts in 2008 and 2009 were people who had lost their jobs due to the financial industry collapse and the Great Recession, so we think people will appreciate the extra income now more than ever.”

Rising interest in becoming Airbnb hosts has prompted the company to introduce a number of new features to encourage people to sign up.

This includes a free one-to-one consultation from a superhost already listed on the platform, which increased the damage protection from $1 million (US$1.49 million) to $3 million (US$4.47 million). -dollars) to include cars, boats, art, jewelry and other valuables and the addition of six new categories of houses.

Categories include new homes added to the site in the last 10 weeks, properties with stunning views that are approximately 10,000 feet above sea level, locations that are wheelchair accessible, and homes with basketball courts, game rooms, miniature golf and water slides .

For the first booking, hosts can also select an “experienced” guest who has at least three stays and a good track record on the site.

Airbnb said half of the listings activated in the third quarter of this year received their first reservation within three days.

Airbnb also launched new categories in May, which have seen 300 million views since launch.

The top five categories by average revenue since launch in Australia are Design, which brought in $9,692 for Hosts, $7,416 for Chefs, while $5,874 for Skiing, $5,727 for Golf and $5,590 for Vineyards.

Airbnb CEO and co-founder Brian Chesky said the platform was born during a recession when the duo couldn’t afford to pay their rent, so they inflated three air mattresses and created an AirBed and Breakfast.

“We were soon joined by people from all over the world,” he said. “Today, just like during the big ones

recession in 2008, people are particularly interested in earning extra income through hosting.”

Over two-thirds of Australians were looking for ways to offset the rising cost of living, and almost one in three were looking for ways to offset the cost of their trip, a new YouGov poll commissioned by Airbnb also found.

But when it came to travel, Australia’s top Airbnb destinations for the coming summer months were Paris, Singapore, London, Whistler in Canada and Wellington in New Zealand.

However, Airbnb has been hit during the pandemic as lockdowns forced people to stay at home and over the past 12 months the company’s shares have plunged 48 percent, forcing the company to downsize its workforce.

“A lot of companies are in pain right now and have to make decisions for these people,” Blecharczyk said.

“Prior to the pandemic, we basically had a decade of growth and access to easy capital, and that meant we didn’t have to make some of these tough decisions.

“We looked at things like flights and magazines, and then we had a sort of reckoning where we had to ask ourselves, ‘What is our true competitive advantage?’ And of course that was our hosts and hosts.”

But Airbnb hosts in the US panicked over a sudden drop in bookings last month, prompting a spate of complaints from thousands of former guests.

A viral Twitter post in October shared a screenshot of a private Facebook group for “Airbnb superhosts,” a term for the top-rated owners on the platform.

This sparked a flurry of reactions from angry travelers, who argued that rising prices, high cleaning fees and other onerous guest demands had simply made traditional hotels more attractive.

Meanwhile, in the run-up to the World Cup in Qatar, some of the Airbnb listings have been exposed as dirty rip-offs.

These included a roach-infested $1,140-a-night shack that is among the filthy rip-off apartments being offered to England fans at the World Cup in Qatar.

The apartment, with its cracked walls, dirty mattress and at least five cockroaches in the kitchen, was next to a noisy construction site in Doha.

Another Airbnb host, Riham, offered a shack in the capital with stained walls and a lounge kitchenette for $938 a night.

Read related topics:AirBnB

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