Airbnb boosted the Balearic Islands economy by more than €500 million in 2016

Today we are releasing new data that shows the positive impact Airbnb is having on the Balearic Islands economy (Download the report). In 2016, the Airbnb community generated €551 million of economic activity in the islands. Economic activity includes the money earned by hosts and the guest spending in local businesses.

Local households earned €115 million sharing their home. In Airbnb hosts keep 97% of the money when they list their space. This figure shows how home sharing spreads economic benefits beyond city centres to new areas, communities, local businesses and families.

Moreover, locals from the Balearic Islands are increasingly choosing the platform when looking for accommodation while travelling. 62,700 people used Airbnb to travel abroad, an increase of 84% in comparison to 2015.

Mallorca and Palma

  • Mallorca hosts earned €64 million last year. Two-thirds of this income went to hosts outside the city of Palma.
  • By the end of 2016, there were 5,000 active listings in Palma. The average host in Palma is 42 years old and earns about 5,900€ per year sharing their home, with 75% of hosts having only one listing.
  • In the rest of the island of Mallorca, there are 10.800 listings. The average host earned 5,700€ and stayed an average of 5,2 nights.
  • Palma has 16.000 empty homes (9% of the housing stock). There are more empty homes in Palma than listings in the whole island of Mallorca.
  • In Palma, there are only 1,400 entire homes that are rented for more than 120 nights, or 0.8% of the entire housing stock of the city.

Menorca and Maó

  • 47,700 guests used Airbnb to travel to the island Menorca in 2016, almost twice as last year.
  • In Maó the typical host earned 4.700€ per year. 83% of hosts in Maó have only one listing.

Ibiza and Formentera

  • By the end of 2016, there were 2,000 active listings in Ibiza city. The average host in Ibiza is 40 years old and earns 10,000€ per year sharing their home, with 71% of hosts having only one listing.
  • The average host outside Ibiza city earns 7,500 € hosting 38 nights per year. In total, 42 million Euros were earned by hosts outside Ibiza capital.
  • Ibiza has 23,732 housing units, and almost 4,000 are empty (8% of the stock).
  • In Ibiza, there are only 167 entire homes that are rented for more than 120 nights, or 0,7% of the entire housing stock of the city.