The Impacts of

Home Sharing
in Athens

Contents

Executive Summary / 2
The Sharing Economy / 4
Airbnb Community Overview / 6
Economic Impacts / 12
Social Impacts / 26
Environmental Impacts / 32
Conclusion / 36
Methodology and Data Sources / 40

Executive Summary

Airbnb hosts in Athens have been welcoming guests into their

homes since 2009. Over the past five years, Athens residents
have formed a vibrant Airbnb community, sharing unique
experiences with travelers from around the world.
The following report examines the impacts of Airbnb and its
community in Athens. Economic, social, and environmental
impacts have all been evaluated to understand how Airbnb
fits into the city. The analysis is based on all travel to Athens
during the year-period from October 2013 through
September 2014.

Airbnbs community in Athens has

significant positive economic, social,
and environmental impacts.

Economic Impacts The economic impacts

evaluated within this report include impacts
to the economy at large, the tourism industry,
neighborhoods, and local households.

Social Impacts Diverse communities around

the world are already seeing the personal social
benefits of the sharing economy. These peerto-peer transactions build community, foster
cultural exchange, and strengthen empathy
and understanding.

Environmental Impacts By helping residents

share their homes, Airbnb promotes the efficient
use of existing resources as well as a more
environmentally sustainable way of traveling.
This type of travel results in a significant
reduction in energy, water use and waste
generation, compared to hotel stays, and also
encourages sustainability awareness among
both residents and visitors.

69M Total economic impact

1,060 Jobs supported as a result
of Airbnb host and guest spending
52% of hosts in Athens said that
hosting has positively affected
the way they interact with their
community

621 Homes-worth of
electricity saved

Homes-worth of electricity savings is measured based on the 60th percentile efficient EU home.

Executive Summary 3

The Sharing Economy

Airbnb and our community are part of the new Sharing

Economy, a movement that enables residents to access new
economic opportunities, promotes entrepreneurship, strengthens
communities and conserves resourcesall aspects of urban life
in which cities have invested significantly. It is fueled by network
technology and social tools, which are redefining the ways that
goods and services are exchanged and created amongst citizens,
businesses and governments.
Residents can share their underused assets with others willing
to pay to use them; individuals can co-create, collaborate and
participate more easily, enabling affordable access to resources of
all kinds. Not only is this movement promoting sustainability by
encouraging the re-use of existing resources, it also thrives across
all socio-economic levels, allowing ordinary people to benefit from
new economic opportunities. The Sharing Economy is about how
resources are used, how hospitality is exchanged, how residents
are empowered, and how economic opportunities are distributed
across diverse neighborhoods. These values are at the heart of who
we are.

The sharing economy is creating new

markets, boosting local economies,
transforming tourism, and helping cities
meet their needs worldwide. Greece has
a unique opportunity to harness the
power of the sharing economy as a tool
for its economic recovery. In doing so it
can also play a leading role in promoting
innovation, resilience and a more
sustainable future for the country.
April Rinne, Sharing Economy Expert
Greece and the Sharing Economy national conference. Athens, March 2014.

The Sharing Economy 5

AIRBNB PROPERTIES IN ATHENS

Airbnb Community Overview

Airbnbs Community in Athens

Founded in August of 2008, Airbnb is a trusted community

marketplace for people to list and book accommodations in more
than 34,000 cities around the world. Airbnb connects travelers to
unique, local experiences, at any price point. On any given night,
more than 140,000 people from more than 190 countries are
traveling on Airbnb around the world.

AIRBNB AT A GLANCE: ATHENS (OCTOBER 2013-SEPTEMBER 2014)

720
Hosts

3.3 M
Host Income

43,740
Inbound Guests

27,570
Outbound Guests

Inbound guests are all visitors to a location. Outbound guests are residents who live in a given location who have used Airbnb to travel elsewhere.

Community Overview 7

Airbnbs Host Community

Between October 2013 and October 2014, 720 Athens hosts welcomed guests
into their homes. These hosts reflect the diverse Athens community. The
average host is 39 years old, with a large percentage working in art,
design or creative services. While Airbnb hosts are highly educated91
percent of hosts hold a college, university, graduate degree or higherover
half earn below average income.

Athens hosts rent many different property types, providing a

range of experiences.

HOST MONTHLY PRE-TAX HOUSEHOLD INCOME

PROPERTY TYPE

Prefer not to say

>4,000

0 - 500

16%

18%

Private room

The typical Airbnb

property in Athens
is an entire home or
apartment.

17%

4%
14%

1,500 - 3,999

1% Shared room

Airbnb hosts
come from diverse
income brackets.

501 - 749

19%

82%
15%

1,000 - 1,499

Entire home/apt

751 - 999

14%

Almost a third of
all Athens hosts
are employed in
Creative Services.

HOST OCCUPATIONS
7% Leisure and Hospitality
7% Financial Activities
9% Professional and Business Services

HOST GROWTH
1000
800

720
(by October 2014)

600

The Athens host

community has
more than doubled
annually since 2009.

400
14% Education and Health Services

31% Art, Design, and Creative Services

Occupations representing fewer than

6 percent of hosts, and Other
15%
5%
4%
4%
2%
1%
1%

Other
Manufacturing and Construction
Information Technology
Trade, Transportation and Utilities
Government
I am a student
Prefer not to Answer

200
0
2009

2010

2011

2012

2013

2014

Source: Airbnb host survey.

Community Overview 9

Airbnbs Guest Community

Since 2009, more than 74,500 guests have traveled to Athens.

The number of guests using Airbnb has grown steadily since 2009,
with visitation more than doubling between 2012 and 2013.

GUEST REASONS FOR VISIT

94 percent of guests
to Athens visited for
vacation and leisure

4% Visiting Friends/Family
3% Conference/Convention
2% Business
1% Study

90%

92%

75%

85%

of Airbnb guests are looking

to live like a local

of Airbnb guests are looking to

explore a specific neighborhood

of all trips involve families

traveling with partners,
children, relatives or friends

Vacation / Leisure

GUEST GROWTH

GUEST ORIGIN

50,000

43,740
(Year-to-date
by October
2014)

40,000
30,000
20,000

Since 2009, more

than 74,500 guests
have visited Athens
with Airbnb

56% Europe
15% France
10% United Kingdom
6% Germany
26% North America

2% Greece

6% Asia

2% Africa

44 percent of
Airbnb guests to
Athens are from
outside of Europe

With year-over-year growth rates at

more than 450 percent since 2010

10,000

7% Australia

0
2009

2010

2011

2012

2013

2014
3% South &

Latin America

Source: Airbnb guest survey and Airbnb bookings data

Community Overview 11

Economic Impacts

Airbnbs business model has far reaching economic impacts that

benefit a) the city overall, b) the tourism industry, c) neighborhood
businesses and d) local households.
Airbnb helps bring one of the worlds most economically powerful
industries right to the front door of local residents. In the process,
visitors are connected to a more diverse and affordable range
of experiences, local households earn additional income, and
spending is distributed throughout the city among businesses and
neighborhoods that do not traditionally benefit from tourism.

Overall Economic Impact

Host income and visitors daytime spending has a significant

economic impact in the economy. The following figures account
for all direct, indirect and induced spending in Athens.

69M
Total economic impact

1,060
Total jobs supported

The emerging peer-to-peer,

collaborative sharing economy will
be a significant segment of the
countrys future economic activity,
stimulating new consumption, raising
productivity and catalyzing individual
innovation and entrepreneurship.
Arun Sundararajan, New York University Stern School of Business professor
Trusting the Sharing Economy to Regulate Itself. New York Times Economix Blog,
March 3, 2014.

The 69 million euro of total economic impact includes direct,

indirect and induced spending. The amount of direct spending
to Athens households and businesses alone from October 2013
through September 2014 is significant.

3.3 M Hosting income earned

by Athens hosts
20.2 M Direct guest spending
at Athens businesses

Airbnbs total economic impact and jobs supported were calculated by Dr. Christos Genakos of Ana-Lysis. The time period under study is October 2013 through September 2014. For additional notes
on methodology and approach, please see the Data Sources and Methodology section.

Economic Impacts 15

Impacts to the Tourism Industry

Airbnb hosts provide a safe and high quality stay, resulting in

unique experience that brings guests back again and again.

Airbnb attracts new visitors, who stay longer, spend more, and are
more likely to return to Athens, fundamentally strengthening the
tourism industry and creating additional opportunities for growth
without requiring new investment or infrastructure on the part of
the city.

71%

67%

of guests visited Athens

for the first time

of guests reported that their

Airbnb experience made them
more likely to return to Athens

91%
of guests would recommend the
Airbnb property that they stayed
in Athens to friends and family.

26%
of Airbnb guests would not
have come, or would not have
stayed as long without Airbnb

We had an amazing stay in Athens thanks to our Airbnb

apartment and our amazing host. The comfortable apartment
and the kindness of our host gave us a safe and comfortable
space in which to relax after a busy day of sightseeing. We
would not have enjoyed Athens nearly as much if we would
have stayed in a regular hotel room.
Carley H., Airbnb Guest in Athens

551
Total spending per visitor per trip

128
Daily average
daytime spending
per visitor

25

Daily accommodation
spending per visitor

153
Total spending per
visitor per day

3.6
Average nights
per stay

Airbnb visitors
contribute significantly
to Athenss tourism
industry

I love Airbnb because hosts do not run it as an impersonal

business, but you feel welcome, almost like a relative. You
also truly experience the local culture and hospitality. Its like
going home away. I am able to travel to more places every
year than I would if there were only hotel options.
Airbnb Guest in Athens

Our Airbnb was awesome. The hosts were wonderful. It was

clean and felt very safe.
Airbnb Guest in Athens

Sources: Airbnb guest survey, Due to lack of data for Athens, a comparison to typical Athens
tourists has not been made.

Economic Impacts 17

Impacts in Neighborhoods

Airbnb distributes economic impacts to neighborhoods that have

not traditionally benefited from tourism spending. With Airbnb
properties across more than 25 Athens neighborhoods, Airbnb
visitors are staying in and exploring places they might never have
otherwise visited.

Guests are much more likely to explore neighborhoods off the

beaten track.
Hosts encourage this by recommending alternative neighborhoods
to their guests, with 98 percent of hosts preparing personalized
recommendations, and all of those hosts recommending local
neighborhood favorites.

75%

83%

69%

70%

of guests who were drawn to

Airbnb because they wanted to
stay in a specific neighborhood

of guests who stayed in Airbnb

properties because the location
was more convenient than a
comparable hotel

Percent of Airbnb properties are

located outside of the traditional
hotel neighborhoods.

of hosts provide their guests with

locally produced products

We met amazing people who

adopted us and became our Greek
family. They took us to many local
restaurants, bars and music venues
that we never would have found on
our own.
Heather S., Airbnb Guest in Athens

AIRBNB PROPERTIES VS. HOTELS

47%
of Airbnb guests daytime
spending is spent in the
neighborhood in which they stay

As a result of
where guests stay,
they spend more
money at local
neighborhood
businesses.

218
Spent per guest in the
neighborhood in which he stays

Airbnb properties
Hotels

Hotel location data from by Hotelsbase.org API

Economic Impacts 19

Neighborhood Case Studies

Between October 2013 through September 2014, guests stayed in and spent
money across many of Athenss neighborhoods.

Koukaki / Neos Kosmos

Ambelokipi / Neapoli

76 Current local hosts

269,300 Total income to hosts
3,630 Inbound guests
584,700 Total spent at local businesses by local guests

76 Current local hosts

165,400 Total income to hosts
2,600 Inbound guests
417,900 Total spent at local businesses by local guests

Plaka / Psyri

Pangrati / Mets

101 Current local hosts

720,200 Total income to hosts
9,350 Inbound guests
1,505,000 Total spent at local businesses by local guests

80 Current local hosts

220,500 Total income to hosts
3,050 Inbound guests
491,500 Total spent at local businesses by local guests

Source: Airbnb host and guest surveys; Airbnb bookings data

Economic Impacts 21

Impact on Residents and Households

Airbnb also enables hosts to afford to take professional chances and

pursue their dreams. 73% of Airbnb hosts are non-traditionally
employed, with 28 percent saying that income from hosting has
allowed them to support themselves while freelancing.

Airbnb helps many Athens residents make ends meet. The typical
Airbnb host in Athens earns 4,290, renting out her home about 68
nights per year. This modest, yet significant amount of income has
helped more than half of hosts, 68 percent, stay in their homes.

HOSTING INCOME USE

Long-term savings

Rent/mortgage
7%
7%

Vacation

8%

35%
Other

11%
20%

Extra spending
money :

Many hosts indicated

that Airbnb income
helps pay their
property taxes.

42%

22%

Percent of hosts are

freelancers, entrepreneurs
or self-employed

Percent of hosts use Airbnb

income to support themselves
while starting a new business

14%

16%

Hosts use much of

their Airbnb income
to pay for regular
household expenses.

24%

19% Other regular household expenses

(bills, groceries, etc.)

9%

Because of the recession, my work has become a part-time

occupation. Airbnb helps cover my expenses and pay the
ever-increasing property taxes. Airbnb helps me survive!
Doros T., Athens Airbnb Host

Im unemployed. My Airbnb income complements

my unemployment benefits in order to cope with
my familys basic needs.
Athens Airbnb Host

Source: Airbnb host survey; Airbnb bookings data

Source: Airbnb host survey

Economic Impacts 23

Social Impacts

By sharing their homes with guests, Airbnb hosts participate in

an ongoing cultural exchange with people from around the world.
Each of these exchanges helps promote a community of tolerance,
empathy and trust. Not only does this expand horizons, but many
hosts find that it deepens their connection to their neighbors and
neighborhoods in the process.

Cultural Exchange

Ninety-eight percent of Airbnb guests visiting Athens come

from outside of the United States, 44 percent come from outside
of Europe. In the past year, this resulted in hosts engaging with
guests from more than 115 countries who spoke more than forty
different languages.

LANGUAGE DISTRIBUTION OF ATHENS GUESTS

English 57%

Greek 2%

!
Hello! Bonjour!
Hola! Hallo!
Ciao!
!
Ol!
Hello!
French 15%

Other 2%

German 4%

Spanish 4%

Italian 3%

Chinese 2%

Portuguese 1%

At its core, [the collaborative consumption

movement] is about empowerment. Its
about empowering people to make
meaningful connections. Connections that
are enabling us to rediscover a humanness
that weve lost somewhere on the way, by
engaging in marketplaces, like Airbnbthat
are built on personal relationships versus
empty transactions.

Korean 1%

Dutch 1%

I feel a sense of fulfillment since I started hosting on airbnb.

The apartment where I live is now open to the world. The
overall hosting experience has enriched my life. It feels like
traveling through the eyes of my guests.
Doros T., Athens Airbnb Host

Ive met people from around the world and become friends
with some of them. I realized that sometimes one might have
more things in common with a person coming from the other
side of the globe than with a person living next door.
Athens Airbnb Host

Rachel Botsman, Author, Whats Mine is Yours, TED June 2012

Source: Airbnb host survey; Airbnb bookings data

Social Impacts 27

Airbnb and its Community

In addition to helping Athens hosts connect with people from all walks
of life, Airbnb also helps create stronger local community connections,
as hosts build relationships with one another, with local business and
with local community organizations, and find ways to support each
other as hosts and as members of the same community.

52% of hosts in Athens said that

hosting has positively affected
the way they interact with their
community

61% of hosts say that hosting

has positively changed the way
they look at life
Hosting on Airbnb has made me even more open minded
than before, Im sharing my personal stuff like my records
with more pleasure.
Athens Airbnb Host

Seeing the city through the eyes of my guests has allowed

me to reassess the places and the people around me.
Athens Airbnb Host

Hosting has caused me to be more open and welcoming

towards tourists in Athens.
Athens Airbnb Host

Source: Airbnb host survey

Social Impacts 29

Environmental Impacts

By helping residents share their homes, Airbnb promotes

the efficient use of existing resources as well as a more
environmentally sustainable way of traveling. This type of
travel results in significant reduction in energy and water
use, greenhouse gas emissions, and waste generation, and
also encourages sustainability awareness among both
residents and visitors.

Sustainability Awareness

Airbnb hosts are more environmentally aware than typical residents,

for example by having energy efficient appliances, and providing
recycling for guests.

By staying in Airbnb properties instead of traditional

accommodation options, Airbnb guests to Athens between
October 2013 and September 2014 resulted in an estimated:

Less than half of Airbnb hosts in Europe provide single-use

toiletry products for their guests, also reducing waste per stay.
Seventy-two percent of Airbnb hosts in Europe also reported using
green or sustainable cleaning products, helping to reduce harsh
chemical use.

Energy savings equivalent of

621 homes

Water reduction equivalent of

10 Olympic-sized pools

Greenhouse gas emissions

reduction equivalent of
1,790 cars

Waste reduction of
Up to 89 metric tons

When staying at an Airbnb, guests are 10-15 percent more likely

to use public transportation, walk or bicycle as their primary mode
of transportation than if they had stayed at a hotel.

Airbnb, by the very nature of its

business, has raised the bar in
sustainable tourism to a level that
the conventional travel industry
will find hard to beat.

66% Percent
of Athens hosts
incorporate
environmentallyfriendly practices
into their household
or hosting practices

Jonathan Tourtellot, Founding Director of the

National Geographic Center for Sustainable Destinations

Note: Environmental impact of typical Airbnb guests in Athens estimated based on conservative comparison of energy and water usage and waste generation of European Airbnb guests, residences
and hotels. Environmental Impacts of Home-Sharing: Phase I Report, April 2014.

Environmental Impacts 33

While Athens economy, environment and

community have already started to enjoy the
benefits of home-sharing, the practice is still
just getting started. There is exciting potential
to harness the sharing economys momentum
and growth for even greater good.

35

Photography and Illustration

All of the photography in this report is by Anastasia S., a resident

Athenian, who regularly shoots Airbnb listing photography for hosts
around the city. The illustrations are drawn by Athens-based artist,
Philippos Avramidis. Airbnb is excited to share Athens talented
artists with our larger community, all of whom help make the city
a beautiful place for visiting Airbnb guests.

Anastasia S. was born in North Greece in

1984 and has lived in Athens since 2002. She
studied Photography and Visual Arts at the
Technological Educational Institute of Athens
and the Venice Fine Art Academy.
Anastasias favorite fields are interior and food
photography. She has worked for Airbnb since
2011, for an international culinary website, and
she also runs her personal wedding and event
photography business. She speaks Greek,
English and Italian. She loves classic cinema
and literature, and she used to volunteer for
marine conservation projects. As traveling is
a basic part of her life, she discovered Airbnb
as a guest on her trip to Portugal, and then as
a contract photographer.

Philippos Avramidis an Athens native

is currently a student at the school of
graphic design at the faculty of fine arts
and design of Technological Educational
Institute of Athens (TEI). He is currently
working on his postgraduate degree
project, which is about city tourism
campaign. Philipposs projects include
the 30th anniversary of TEI Athens, and
the redesign of the magazine (2014) as
well as an animation spot for the Greek
Ornithology Company (2015). He has
participated in group exhibitions for the
30TH (the original Greek text does not
mention that this is the 30th anniversary)
Greek Graphic Designers anniversary in
Athens and Thessaloniki.

37

Data Sources and Methodology

Geography

Data Sources

With the exception of the economic impact geography, this report

focuses entirely on the City of Athens. Surveys were sent to hosts and
guests within the city limits, and public and bookings data are for the
city. While host income and guest spending presented in this report
reflect income and spending within the city, impacts of this money is
calculated at the national level.

The findings in this report are based on extensive data about Airbnb
hosts and visitors to Athens from October 2013 through September
2014.

Economic Impact Methodology

The economic impact presented in this report were calculated using
the input-output table by product category for Greece, developed
by Eurostat. In addition, data on employment by sector (NACE Rev.
2, Structural Business Statistics) and on total taxes and employer
contributions from the Ministry of Finance were used as inputs into the
MATLAB program. The analysis is based on the latest available table,
from 2010.
Hosts Airbnb income spending is distributed across six household
spending categories: Rent/Mortgage, Other Household Expenses,
Long-term Savings, Vacation, Extra Spending Money, Other. Guests
daytime spending is distributed across six industries: Gastronomy,
Groceries, Shopping, Other Leisure Activities, Transportation, and
Other Services.
The economic impacts presented in this report were calculated by Dr.
Christos Genakos of Ana-Lysis.

Acknowledgments

Key data sources include:

Host Survey
Email surveys were sent to all eligible Athens hosts, who hosted
guests from October 2013 through September 2014. 165 Athens
hosts responded to the survey. These results generated a 95 percent
confidence level and a confidence interval of +/-7 percent.
Guest Survey
Email surveys were sent to 8,000 guests who traveled to Athens from
October 2013 through September 2014. 792 guests responded to the
survey. These results generated a 99 percent confidence level and
a confidence interval of +/- 5 percent.
Bookings Data
Proprietary Airbnb bookings data from October 2013 through
September 2014 for the City of Athens
Economic Impact Analysis
Dr. Christos Genakos reviewed all data and calculations used in the
economic impact analysis and conducted the economic impact analysis.
Environmental Impact Inputs
Environmental Impacts of Home-Sharing: Phase I Report, June 2014.
Prepared by environmental consulting firm, Cleantech Group.
Additional Data Sources
.. Wage data from www.aftodioikisi.gr

Many thanks to the local hosts and businesses which were

photographed for this study.

39