Hello, Airbnb community, and welcome to 2016! Turning the calendar page always brings renewed optimism, goals, and best intentions for the year ahead (see, we’re being optimistic). Maybe one of your new year’s resolutions is to become a host. Well, the new year is a great time for newcomers to start hosting, and we’ll give you a few really huge reasons why.
We’ve known for a while that hosting is a great way to make extra income. Gene Sperling, a former White House National Economic Advisor, noted that the typical Airbnb host rents out their primary residence for an average of 66 days a year. Those hosts make approximately $7,530 in supplementary income per year. $7,530! That’s a substantial amount of extra money, and all of our hosts use this extra income for a variety of reasons.
All that extra income can help pay off credit card bills from holiday spending, which we could no doubt all use a little help with. According to Gallup, the average American planned to spend $830 on gifts during the holiday season.
An important thing to think about: Hosts also use their Airbnb income to invest for the future. Wealthfront, an automated investing company based in Palo Alto, California, noted that an Airbnb host who contributes $500 per month to their investment account could have an additional $502,000 added to their nest egg after 30 years. Like the $7,530 stat from above, we’re guessing this statistic just startled you again (in a good way!). Wealthfront concludes that even relatively small amounts of additional monthly income can make a profound difference in both short term and long term wealth accumulation.
Hey, maybe you want to use your hosting income to take a trip around the world. That’s perfectly okay, too. Conveniently, we have a wishlist of beautiful Airbnb homes around the globe. If you want to live like a local and become deeply immersed in a culture that was previously inaccessible, might we suggest Cuba? If you plan to head to the Rio Olympics, remember that Airbnb is the official alternative accommodations provider. Brazilians are ready to open their homes to you. The list goes on.
What do you plan to accomplish in 2016? Reduce debt, invest for the future, treat yourself to a vacation, pay college tuition or fund retirement? Maybe something else all together. How can Airbnb help you reach your goals and live your dreams?
Here’s to a great year of hosting.