Airbnb’s R10bn for the economy is money that ‘stays in SA’

Business

Airbnb’s R10bn for the economy is money that ‘stays in SA’

Hosts on the platform keep 97% of the money they earn, and that gets spent locally, the company says

Mudiwa Gavaza

Airbnb generated nearly R10bn for SA in 2018, underlining its small but significant role in the ailing economy as the short-term rental company battles regulators seeking to limit its impact on private housing and the hotel industry.   

SA has proposed a new set of rules under the Tourism Amendment Bill that, if enshrined into law, will specify how much an Airbnb host can charge in rentals and the number of nights guests can stay at chosen locations.  

SA joins a host of other countries regulating or contemplating regulations that have put up roadblocks for the San Fransisco-based company founded in 2008...

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