Airbnb says it has generated $240 million for Paris

The peer-to-peer hotel service highlights how it helps the European city's economy.

(Credit: Airbnb)

Airbnb, which some cities have targeted as a threat to residential housing, has released a report (PDF) highlighting how much money it pours into local economies. The company's latest economic impact study said it generates about $240 million (185 million euros) for the city of Paris.

The company also took care to highlight how Airbnb hosts are actually using the service to supplement their income and pay for their homes. Airbnb found that 83 percent of Paris hosts rent the home they actually live in and 46 percent said they need the income for "essential living expenses such as rent and mortgage payments."

In San Francisco, where the company conducted a study last year (PDF), the figure is even higher. Ninety percent of hosts rent the home they live in and 56 percent said they need to do that to help pay their mortgage or rent. Airbnb visitors generated about $56 million in San Francisco, according to the company.

Here are a few other stats Airbnb emphasized from the two reports:

• The average Paris hotel guest visits for 2.3 nights and spends $584. The average Paris Airbnb guest, visits for 5.2 nights and spends $1,151.

• 70 percent of Airbnb properties in Paris are located outside the main hotel districts.

• The average San Francisco hotel guest visits for 3.5 days and spends $840. The average San Francisco Airbnb guest visits for 5.5 days and spends $1,045.

• 72 percent of Airbnb properties in San Francisco are located outside the central hotel district.