In a recent analysis commissioned by Airbnb and conducted by leading experts at Oxford Economics, it was revealed that Airbnb has played a pivotal role in bolstering Thailand’s tourism industry, making a noteworthy impact on the country’s GDP and overall job market. Due to Airbnb’s substantial influence, Thailand’s Gross Domestic Product witnessed a significant augmentation of 31 billion baht in 2022, successfully supporting almost 56,500 jobs nationwide. Thus, an impressive 1.7% of the entire tourism sector’s GDP contribution can be attributed to Airbnb.
In addition to the platform’s substantial contribution to GDP, there’s another key factor that stands out from this new research — the multiplier impact of the spending of Airbnb guests within the local Thai communities. In the last year alone, the resulting economic injection into the Thai economy was a staggering nearly 41 billion baht. Such spending, primarily in local dining establishments, accommodation, retail centers, and transportation, experienced an immense 500% increase compared to 2021, reaching a striking 72% of pre-pandemic levels observed in 2019. The average guest spent a considerable 34,000 baht throughout their stay in Thailand, contributing to the local economy substantially.
The study also points out two crucial shifts in travel behaviors due to the Covid-19 pandemic. First and foremost, the rise of long-term stays propelled by remote work flexibility and secondly, a noticeable shift from urban to more rural tourist destinations. With the return of international travel, the United States emerged as the largest market for Thailand, constituting a considerable 14% of all international Airbnb guests.
Remarkably, long-term stays (those lasting 28 days or more) contributed 35.6% of all the guest nights in Thailand for the year 2022. This number has significantly risen from the 13.9% recorded in 2019. The benefits of the boom in Thailand’s tourism industry due to Airbnb have been widely distributed, impacting provinces beyond just the major urban centers like Bangkok and Phuket. Regions such as Koh Samui, Pattaya, and Krabi experienced a healthy increase in guest spending between 2020 and 2022, with Koh Samui specifically observing a spending increase of 12%, comfortably surpassing pre-pandemic levels.
James Lambert, the Economic Consulting Director for Asia at Oxford Economics, acknowledged Airbnb’s transformative role in stabilizing Thailand’s tourism sector post the global Covid-19 pandemic. He highlighted Airbnb’s role in facilitating the shift from urban to more rural destinations and the surge in demand for long-stay trips. Mich Goh, Airbnb’s Head of Public Policy for Southeast Asia, India, Hong Kong, and Taiwan, underpinned the economic ramifications resulting from Airbnb’s indispensable contributions to GDP and the creation of employment opportunities.
Since 2020, due to flexible work policies and initiatives such as Airbnb’s “Live and Work Anywhere” in collaboration with the Tourism Authority of Thailand, there has been a notable increase in long-term stays. This trend has attracted guests who stay longer and consequently spend more per trip. With a commitment towards working alongside government agencies and local communities, Airbnb strives to rebuild tourism economies across Thailand in a way that is equitable, inclusive, and sustainable.
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