Advertising feature from Airbnb

‘Airbnb was founded in the recession of 2008, but there are parallels to where we are today, and we certainly see that with hosts in the UK. As living costs continue to rise, the extra earnings from hosting on Airbnb help hosts to pay for higher mortgages, higher energy costs – whatever the bill is. ‘Hosting is a really flexible way to make the most of what is, for most people, the most expensive thing they will buy in their life – their home – and to earn income from it. On average, hosts let out space in their home for three nights a month, and earn just over £6,000 a year. This can be quite a significant source of additional income for many families who need it.

Earlier this month, the UK Housing Secretary confirmed what experts have been saying for years; there simply aren’t enough homes in Britain. This lack of supply – paired with the worst financial crisis in more than a decade – has seen home, rental, mortgage and living costs soar, hitting families hard. On Airbnb, we see the impact of these challenges facing families across the UK. As the cost of living has risen, more people have turned to hosting to boost their income and afford their homes. Today, the vast majority of UK hosts share one listing and more than a third say the additional income helps them make ends meet and afford rising living costs.

The short-term letting industry has changed how people worldwide choose to travel. No longer are you confined to traditional tourist spots; it’s easier than ever to stay in almost any city, town or village and live like a local. One company that has been instrumental in driving this change is Airbnb. Launched amid the 2008 financial crisis, Airbnb has given everyday families the chance to earn extra income for more than a decade. In a recent survey, more than a third of UK hosts on Airbnb say they use the income from sharing their own homes to help with rising living costs.1 As a new cost-of-living crisis bites, the UK government has a critical opportunity to make it easier, not harder, for regular families to share their homes and make a little extra money.

Russia’s invasion of Ukraine has seen an unprecedented outbreak of solidarity across Europe, with millions wanting to help those fleeing the violence. As well as donating money to relief funds, many people have offered to shelter Ukrainian refugees in their own homes. But are governments across the world doing enough to respond to their citizens’ generosity? Take the UK, for example. In the weeks following the Kremlin’s invasion, 150,000 Britons signed up to a government website to host a Ukrainian refugee in their home. Yet the resulting scheme (unveiled by Michael Gove) has since been slammed for being unnecessarily cumbersome, placing bureaucratic hurdles between refugees and would-be hosts. Could the private and nonprofit sector help speed things up?