Short-term rentals supported more than 75,000 jobs in Arizona last year and generated $6.6 billion, according to report released Wednesday (Feb. 23) by Airbnb and Expedia.
“The study finds that short-term rentals are an integral part of the Arizona economy, with visitor spending lifting up local businesses, creating jobs, driving growth and generating significant tax revenue,” Airbnb said on its website.
The report — The Economic Impact of Short-Term Rentals in Arizona — found that the number of short-term rental related jobs exceeded that of those supported by the state’s educational services industry, which employed about 71,400 people in 2021.
In addition, the total labor income produced by visitor spending stemming from short-term rental activity was $2.8 billion last year, with a total economic output of $6.6 billion from guests’ spending. That’s as much as the economic activity generated by Arizona’s mining and agricultural sectors in the same time frame.
Short-term rental visitor spending produced more than $500 million in state and local tax revenue last year from transient occupancy taxes and employee and business-derived taxes, the report found. This money helps support services like public safety, education, parks, roads and infrastructure.
“This report shines an important light on the role vacation rentals play in the lives of so many local homeowners, small businesses, and communities,” said Ashley Hodgini, Arizona public policy lead for Expedia Group. “Every day across Arizona responsible hosts welcome traveling families, drive revenue to local businesses, contribute critical tax dollars to the state’s budget, and support 75,000 jobs.”
The report comes as Airbnb is seeing the pandemic reshape what its guest and host experiences look like.
Related: Airbnb Moves Deeper Into the Connected Economy as Blended Live/Work Bookings Expand
As PYMNTS noted last week, 20% of stays in Airbnb properties now last one month or longer, while long-term stays have become the platform’s fastest-growing category.
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