Tourism solves New York City’s financial problems by bringing in funds from abroad.
Established in 2008, Airbnb is an online community for people to list, find, and rent unique accommodations around the world. Proud of their accomplishments, Airbnb published a report highlighting the amount of business and positive economic impact the company has brought to NYC.
According to their new study, the site has generated over $600 million in economic activity, and collected nearly $31 million in sales tax from Airbnb guests. When compared to the typical tourist, Airbnb guests, on average, spend more time and money in New York.
Not only does the travel rental site helps everyone in NYC pay their bills, but it also creates a melting pot of international travelers that fortifies relationships for the future. Travelers are given a chance to explore New York in a different way, and visit neighborhoods that are not traditionally popular. The best part is that all five boroughs are benefiting from the Airbnb system, which means New York as a whole is growing and increasing its value.