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A recent survey by the accommodation giant showed Australian Airbnb hosts have been using income earned through the platform to stay afloat and fight the costs of living during recent tough times.<\/p>\n
The survey of those who rented out their homes during 2020 showed:<\/p>\n
A third of respondents said the primary reason they started hosting was to \u201cmake ends meet\u201d, with 30 per cent looking to earn extra spending money and 13 per cent wanting to earn money to grow their business as a host on Airbnb, with the latter highlighting the platform\u2019s ability to foster entrepreneurship<\/p>\n
More than a third of hosts (36 per cent) said the money earned through Airbnb helped them stay in their home during the last year, with seven per cent saying it helped them avoid eviction or foreclosure<\/p>\n
Almost 30 per cent said money earned through Airbnb in the last year enabled them or a household member to avoid working extra hours or a second job<\/p>\n
More than a quarter of hosts (27 per cent) reported receiving a pay cut or reduced hours due to the pandemic, with 11 per cent losing their job or being laid off at some point, and<\/p>\n
Hosts spent the money earned in the past year in a variety of ways, which included 15 per cent using it to save for retirement, 10 per cent donating to charity, 34 per cent improving their home and 16 per cent offsetting holiday costs.<\/p>\n
A stay at the Pole House costs from $750 per night and can now be booked locally through Great Ocean Road Holidays.<\/p>\n