London Mayor is right: #LondonIsOpen

As the London Evening Standard reported today, Post-Brexit London is more popular and diverse on Airbnb than ever. #LondonIsOpen, indeed, and the UK sharing economy is going from strength to strength.

London is the third most popular city in the world for Airbnb guests. Later this week, hosts will welcome the 3 millionth Airbnb guest arrival from around the world to stay in a London home. It took six years to reach 1 million Airbnb guest arrivals in London. From that date, it took 11 months to reach 2 million guest arrivals in London and a further nine months to hit 3 million guest arrivals.

Mayor of London Sadiq Khan said,

There is a reason why so many people love to come to London, and that is because this is the greatest city in the world. We have something for everyone and as the Mayor of this fabulous city, I am delighted to hear that Airbnb hosts are continuing to welcome guests from hundreds of countries. Our aim now is to make sure that even more people across the planet hear that London is open.

Since the EU referendum result, Airbnb hosts in London have welcomed guests from more than 164 countries across the world. Guests from the four corners of the globe – from Spain to Singapore, Chile to China and New Zealand to New Delhi – are flocking to the capital and choosing to experience London life like a local in the homes of local residents.

The most popular countries of origin for international guests to London on Airbnb include:

  1. USA
  2. France
  3. Australia
  4. Germany
  5. Canada
  6. Italy
  7. Spain
  8. China
  9. Netherlands
  10. South Korea

Our General Manager for the UK, James McClure had this to add:

Post-Brexit London is more popular and diverse than ever. Guests from around the world are staying in local homes to experience authentic London hospitality and the diversity we hold dear – from different cultures, communities and experiences to local hidden gems. This remains the most welcoming and hospitable city in the world, and the future for London’s sharers is bright. London truly is open.

Last month, PwC released new research showing Britain’s sharing economies have grown faster than the rest of Europe. It predicts that major sharing economy sectors in the UK could grow to 20 times their current worth in the next decade. Sharing economy platforms currently deliver £7 billion in transactions across the UK and this is predicted to increase to £140 billion by 2025. This is good news for Londoners who share their homes, who keep 97 pence of every pound they charge to rent their space.

Rob Vaughan, economist at PwC, said the EU referendum result will not impact on these projections and “…the fundamental drivers of the sharing economy will continue to drive adoption in this space over the long-term”.

Earlier this year, Airbnb released data showing London’s outer boroughs are growing faster than inner London boroughs as a destination for Airbnb guests in London. In a survey, 85 percent of Airbnb guests in London said they chose to travel on Airbnb to experience life like a local, 78 percent to explore a specific neighbourhood.

Airbnb hosts in London span all 33 London boroughs. The typical host earns an additional £3,500 by sharing their space for 50 nights a year. Almost half of Airbnb hosts surveyed said they rely on the additional income to help make ends meet. More than half of Airbnb hosts in London are freelancers or work in creative industries.