Airbnb doubles economic impact in SA

Airbnb's accommodation sector has more than doubled its contribution to South Africa's growth of inclusive tourism since 2019, according to a new report from Genesis Analytics. In 2022, Airbnb's contribution to the economy surpassed R23.5 billion, creating almost 50,000 jobs in the country. Velma Corcoran, Regional Lead for Middle East Africa at Airbnb, shared key highlights from the report in an exclusive interview with CNBC Africa. Corcoran emphasized that Airbnb's impact goes beyond traditional tourism hotspots, with South Africans driving much of the platform's growth. She highlighted that domestic travelers are exploring less-known destinations, spreading economic benefits across the country. The platform's data revealed that guests spend an average of R3,000 per day on non-accommodation related expenses, supporting local businesses like coffee shops and restaurants. Cities experiencing the fastest growth on Airbnb include Gauteng, Bumalanga, Northwest, and the Western Cape, indicating a shift towards unconventional travel destinations. Corcoran discussed Airbnb's role in making travel more affordable and accessible for South Africans, particularly during challenging economic times. The platform has provided a lifeline for ordinary citizens, with 50% of hosts hosting to cope with rising living costs. Despite economic pressures, Airbnb saw a 33% increase in domestic travel from 2019 to 2022. Corcoran mentioned that typical South African hosts earned around R32,500 in 2022, and expressed hope for further improvements as tourism recovers. As the festive season approaches and consumers face financial constraints, Corcoran remains optimistic about tourism numbers. She highlighted South Africa's appeal as an international tourist destination, with a favorable value proposition and quality listings garnering positive feedback from guests. Looking ahead, Corcoran emphasized the platform's commitment to providing safe and secure accommodation experiences, with 77% of guests feeling secure during their stays.