MANILA, Philippines — Global hospitality platform Airbnb has proven itself essential for many hosts and guests alike in the Philippines amid economic challenges such as soaring inflation.
A new survey by Airbnb showed that income earned through hosting has helped hosts in the Philippines navigate higher prices.
It found that almost half of the hosts surveyed said one of the reasons they host is to earn money to help cover the rising cost of living.
Against the backdrop of higher prices for everyday goods, the survey showed that nearly 60 percent of hosts surveyed in the Philippines said they use the income earned through hosting to buy food and other necessities that have become more expensive.
Airbnb said hosts also use the income they earned from the platform to help pay for housing and home improvement needs, with more than a third of them saying the income they earned through hosting has helped them stay afloat at the height of the pandemic lockdowns in 2021.
Of that group, over 50 percent said hosting helped them avoid foreclosure or eviction, Airbnb said.
Almost half of the hosts surveyed also indicated that they used the money earned through hosting to improve their homes.
Nearly two out of five hosts said they host to earn money to make ends meet, while over 50 percent said they host to earn extra spending money.
About 60 percent, meanwhile, said they host to earn money to grow their business.
Airbnb said hosts surveyed also indicated that they expect income earned through hosting would become more important, with almost half saying they expect to become more reliant on host income in the next 12 months.
In terms of guests, the survey found that in the Philippines, more than a third of those surveyed said they stayed at an Airbnb listing to travel and work remotely.
It also showed that almost 30 percent of guests in the country indicated that if staying at an Airbnb listing was not an option, they would have probably or definitely changed their length of stay.
According to Airbnb, approximately 35 percent surveyed stated they definitely or probably would not have visited the neighborhood in which they stayed if a listing was not available.
Airbnb said the pandemic has changed the way people travel globally, as millions of people have become more flexible.
In a trend that began last year and has continued into the first quarter, guests are staying longer, essentially living on Airbnb.
Globally, Airbnb said long-term stays were at an all-time high in the first quarter, which was more than double the size from the same quarter in 2019.
The surveys were based on 220 Airbnb listings booked in the Philippines between June 1 and Dec. 31 last year, and of 250 Airbnb home guests who booked a listing in the Philippines between the same period, and were surveyed between Feb. 17 and March 31.