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Airbnb generates an estimated $590 million in Kentucky in 2024
KENTUCKY (FOX 56) — Airbnb saw a record year in 2024.
The platform has paved the way for tourists to visit off-the-beaten-path destinations since its launch in 2007.
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Data shows that the surge in popularity is predominantly in less saturated areas or for travelers in need of more flexible accommodations, and its demand continues to rise year after year, according to AirDNA, the leading provider of data and analytics for the short-term rental industry.
In 2024, it welcomed its two billionth guest nationwide.
'In doing so, they're also supporting local economies—from small towns to big cities—and driving meaningful economic impact into every corner of the country,' Airbnb wrote. 'According to newly released estimates, travel on Airbnb generated more than $90 billion in economic activity across the United States in 2024—a record figure reflecting the total contribution driven by guests, hosts, and the businesses guests support.'
A new study breaks down Airbnb's economic impact in 2024 amid battles against short-term rental restrictions.
In November 2024, FOX 56 reported that Lexington supports over 1,000 short-term rentals, of which, at the time, only 729 were licensed.
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According to Airbnb, in Kentucky, it contributed:
$590.5 million in total contribution to gross domestic product
8,700 jobs supported
$146.5 million in tax revenue
The typical guest in the U.S. spent more than $775 per trip on other goods and services like restaurants, entertainment, shopping, and other local businesses. That influx of visitor spending helped support more than one million estimated jobs nationwide last year, helping to generate over $52 billion in labor income,' the study reads.
Airbnb said that short-term rental regulations have caused major cities like New York to forego as much as $82 million.
Click here for a state-by-state view of Airbnb's economic impact.
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