The trade association that represents short-let landlords says the ‘Airbnb economy’ contributed £27.7 billion to the UK economy during 2021 and has helped create some 500,000 jobs, latest data shows.
The UK Short Term Accommodation (STAA), which is understandably keen to bat off accusations that short-lets harm some housing markets, says the biggest positive contribution was found in communities that are more reliant on tourism and in rural areas where there is typically a lower than average level of household income.
Its research, completed by an Oxford Economics report commissioned by Sykes Holiday Cottages in partnership with the STAA, shows that that some local holiday hotspots economies short term rentals activity contributes up to 4% of their GDP
Also, the sector boosted the UK Exchequer to the tune of £4.6bn in taxes during 2021.
Examples of the roles created by Airbnb bookings in many areas include multi property housekeepers, maintenance handypeople, gardeners and ‘meet and greet’ staff.
Underestimated
“Many people simply underestimate or are unaware of the positive impact that the short term rentals sector has on the UK economy, especially in those areas of the country that are typically not best served by highly paid jobs,” says Andy Fenner, CEO of the STAA (main image).
“The Oxford Economics report highlights how important short term rentals are to many communities in rural Britain and illustrates just how many people benefit from their operation.
“The flexibility of hours the industry offers means that a whole wave of people who were previously unable to take up a full or even part-time job can now be employed to do important jobs that fit around their family or other commitments.”
The Government is a little more lukewarm about the sector. Housing minister Lucy Frazer recently said that her plans to introduce a compulsory register for short and holiday let landlords and generally better regulated the sector, were “an important first step in making sure communities were not ‘hollowed out’ by the holiday-let market”.
