New report cites Airbnb’s contribution to PH economy

Airbnb, the leading global online accommodation platform, is an important pillar of the Philippines’  tourism industry, with its activities contributing $840 million to gross domestic product (GDP) and supporting almost 103,800 jobs in the country in 2022 alone, a new research from Oxford Economics revealed. 

The report, commissioned by Airbnb, found that in 2022  one in every 77 jobs in the tourism industry in the Philippines was associated with Airbnb.
In the same year, Airbnb guests spent over $870 million on the Philippines’ dining, retail and transportation services.  Of total, domestic Airbnb guests’ contribution reached more than half at $445 million. 

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The report discusses two notable shifts in travel behavior since the pandemic: the spread of tourism away from urban areas and the rise of long-term stays due to flexible job arrangements.

The report also explores dispersal of tourism away from urban areas, and long-term stays driven by the emergence of flexible work arrangements since the pandemic.

James Lambert, Director for Economic Consulting in Asia for Oxford Economics, said Airbnb has clearly played a major role in the resilience and rebirth of the Philippines travel and tourism sector in the wake of the Covid-19 pandemic.

“Airbnb has been at the heart of some of the trends reshaping the nation’s travel and tourism industry, including the shift in travel away from cities and towards more rural communities, and the increase in demand for long-stay trips, exemplified by the live and work anywhere phenomenon,” Lambert said.

Amanpreet Singh Bajaj, Airbnb’s General Manager for Southeast Asia, India, Hong Kong and Taiwan also noted of the economic contribution to both GDP and jobs driven by travel on Airbnb in the Philippines saying it 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 travelers experience a destination — and created job opportunities for the locals.

He further observed that the growth of the long-term stays segment since 2020 — enabled by flexible work policies and supported by Airbnb’s Live and Work Anywhere program — is helping destinations attract guests who stay longer and spend more per trip.

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The study also said that travel is now more dispersed, and so the economic benefits are being shared across more destinations, enabling a valuable economic contribution to rural and regional areas. “This dispersal is being driven by Hosts on Airbnb and in turn creating economic opportunities for various communities,” he said.

“As destinations across the Philippines continue to recover, we are committed to partnering with governments and communities to rebuild their tourism economies in a way that is equitable, inclusive, and sustainable,” he added.

The report presents results for the 12-month period up to and including March 2023, referred to as 2022, which represents the first full year after the reopening of international travel. Prevailing exchange rates at the time of study were applied, using proprietary data from Oxford Economics.

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The article was originally published in Manila Bulletin and written by Bernie Cahiles-Magkilat.

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