Despite the prevailing Enhanced Community Quarantine in the National Capital Region and adjoining provinces, signs point to travel coming back.
To entice more Filipinos to consider hosting for added income, Airbnb launched the What’s My Place Worth tool that will enable prospective hosts to calculate their potential monthly income.
The tool works by computing the estimated income through inputs for geography, type of listing and space and factors in prior Airbnb booking data in the area.
As the ongoing COVID-19 pandemic continues to impact local communities and businesses in the Philippines, the Philippine Statistics Authority (PSA) recently reported that some 4 million Filipinos remain unemployed in January 2021.
For many, sharing their homes on Airbnb allowed them to stay financially capable despite the COVID-19 pandemic. In Baguio City, for example, the P11,491″ estimated monthly income by hosting on Airbnb represents important supplemental revenue for prospective Hosts.
For those considering hosting, now is the time. A recent Meaningful Travel Trends survey commissioned by Airbnb indicated that Filipinos are ready to reconnect with their families as soon as travel restrictions ease, and there is pent-up demand for travel as people yearn to get out of the house after months of pandemic-caused isolation.
In fact, latest YouGov data indicates that travel with immediate and extended family will be the #1 reason for domestic travel amongst Filipinos this year. Filipinos are also seeking safe and affordable travel options, with quick getaways and nature retreats likely to gain traction.
The What’s My Place Worth tool is one of many resources Airbnb has for prospective Hosts, all of which can be explored at Airbnb.com/host.
*The earning estimate for Baguio City hosts stated here is for an entire home listing with a guest capacity of 6. It is based on booking data from the past 12 months for that area, and calculated by multiplying a nightly price by the total nights of occupancy.