How the popularity of concert tours creates economic opportunities for Hosts

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(BPT) - This past summer was a season of major concert tours, driven by renowned popstars and cultural icons like Queens Tay and Bey. From booming box office sales to sold-out arenas, 2023 summer concert tours inspired communities and boosted local economies across the globe.

For Airbnb hosts, the “shero” summer effect meant a boost in revenue. According to Airbnb, Hosts worldwide collectively generated $100 million over concert dates from Jan. 1 to June 30, 2023, including the day before each tour stop. Continuing concert tour trends could spell the perfect opportunity for Hosts to earn more in the coming year.

Global icons and their local impact

Across Europe and the U.S., Queen Tay and Bey’s concert tours ushered in hundreds of thousands of guest arrivals on the platform over the concert dates during the first half of this year. The megastars helped support local economies, and Airbnb Hosts experienced this boost firsthand.

Hosts in Europe earned more than $40 million and their U.S. counterparts earned over $62 million during the first half of this year. These earnings represent a 38% increase in collective Host earnings over concert dates from Jan. 1 to June 30, 2023, compared to the same dates from Jan. 1 to June 30, 2022.

These economic trends are likely to continue into 2024. The upcoming European leg of one of these stars’ tours prompted a remarkable surge in interest. Notably, there was a 1,000% spike in Airbnb searches based on the average increase in searches for concert tour cities from June 20 to June 26, 2023, compared with the week before the 2024 tour announcement.

Hosting fans, creating joy and increasing income

The shero summer doesn’t just mark a return to big events. The droves of fans flocking to these events show that people are excited to come together as a community to share their passion for music. With people feeling increasingly isolated and disconnected, Hosts on Airbnb are focusing on providing distinctive guest experiences to facilitate human connections, one superstar event at a time.

If you’re lucky enough to live in a Host city during the upcoming tour dates, there has never been a better time to join the growing community of Hosts on Airbnb. Based on the total earnings for new Hosts globally in 2022 who started hosting sometime between January and December 2022, new Hosts collectively earned over $5.5 billion in income from hosting on Airbnb. Also, many new Hosts are having great success securing bookings quickly. Half of the listings activated and booked in the third quarter of 2022 globally received their first booking within three days.

Becoming an Airbnb Host has never been easier. The introduction of Airbnb Setup connects new Hosts with Superhosts who can provide one-on-one guidance. The integrated platform also helps new hosts welcome an experienced guest for their first booking and receive specialized support from Airbnb Community Support agents in over 42 languages.

All Hosts also get even more AirCover, which provides top-to-bottom protection, guest identity verification, reservation screening and $3 million damage protection. Protection includes coverage for cars, boats, art and valuables.

Are you ready to become part of the collective joy of live entertainment and increase your own financial well-being? Visit Airbnb.com/Host to learn more about how you can become a Host.