Since launching in 2008, Airbnb has transformed the way people travel and experience cities all over the world by offering more flexibility, comfort and variety in accommodation. Short-term let properties can suit all kinds of guests, from tourists and holiday goers to those visiting family or travelling for work.
The flexibility that comes from the Airbnb model and wide range of properties available open new opportunities for both visitors and property owners. Within cities, this has been having a direct impact on how long people stay and how much they spend – Airbnb guests stay 2.1 times longer and spend 2.1 times more than visitors staying in typical accommodation, according to Airbnb research. This has been something that Scotland has experienced the effect of in recent years.
Airbnb in Scotland
The number of Airbnb listed Scottish properties grew from 10,500 in 2016 to around 32,000 by May 2019. Combining the host income and guest spending from 2018, Airbnb properties were responsible for a whopping £693m economic impact on the Scottish economy that year.
In Edinburgh alone, the most popular Airbnb destination in Scotland and second-most popular in the UK, Airbnb guests accounted for 75% of the total £320m generated for the economy in 2018. The 12,000+ registered properties played host to guests that spent an estimated £531m.
So, what is it that makes short-term lets such a popular option in Scottish destinations and how does this impact the economy?
A Local Experience
One of the biggest draws of short-term let properties is how they allow guest to “live like locals”. During the first study on the economic impact of Airbnb in the UK, taken between 2013 and 2014, the company found that 85% of people using Airbnb-registered properties were doing so in order to experience a more homely, local atmosphere during their stay. This has become a more popular alternative to staying in a busy hotel district for many people.
Once again, this results in a boom for local economies, as around 42% of visitor spending ends up being in the neighbourhood they are staying in.
For Scotland, the rise in short-term let properties is likely to be encouraging local tourism and helping to support smaller businesses. Owners can take this into account and provide a guest experience that gives an authentic feel of their local neighbourhood and city.
The Future for Scotland
If these trends remain consistent for guests using Airbnb, the Scottish economy and tourism industry will continue to benefit. With modern travellers changing the way they stay in and experience a location, short-term let properties can help to satisfy their desire to venture further and discover more within Scotland’s magnificent cities, towns and island communities.
Property owners should be looking to maximise their guest’s enjoyment by providing homely accommodation that allows for the longer stay and adventurous desires of the typical Airbnb user. When it comes to keeping everything in order, from interior decoration to bookings to cleaning and laundry, BNBHOST are on hand to help!
At BNBHOST, we provide several services that suit the needs of busy property owners who may not have enough time, knowledge or resources to effectively manage their Airbnb lets. We take care of every single detail, so you don’t have to! Whether it’s handling your property’s set up and online profile, taking photography or managing bookings, we work to ensure price optimisation and the best possible experience for your guests.
If you’re looking to maximise your property’s potential, or even begin the journey to running your own Airbnb, get in touch with us today.