Kenyans unlock Sh40m by renting out their homes

In Inspiration

More and more Kenyans are opening up their homes to visitors to make alternative income through the vacation rental site Airbnb which shows that listings increased by a half this year.

The site allows Kenyans to unlock capital from idol rooms in their homes by renting them out to tourists helping them to increase their incomes by tapping into the new business opportunity.

Airbnb website data also showed there was a more than 140 percent rise in the number of visitors hosted by Kenyans to 39,500 with the average host getting over Sh100,000 a year.

Room rental giant Airbnb continues to enjoy rapid growth in Africa. Annual guest numbers more than doubled over the past year from 572,000 to 1.2 million, the Californian company announced in a new report, with active listings up from 62,000 to 100,000.

The internet is continuously leading an onslaught on mainstream businesses by opening the markets to small businesses. Hotels are now sharing their revenues with home owners while banks share revenues with fintech startups as media houses share revenues with blogs.

Revenues

Revenues earned by Kenyan Airbnb hosts was a total of Sh40 million. “The collective earnings from hosting on Airbnb for Kenyans increased by 106 (per cent) compared to the previous year,” says Airbnb in a statistical release.

South Africa , Nigeria, Morrocco and Kenya remain the key hotspots of travel with most of the visitors averaging between 18-35 years of age most of them arriving from Europe and America.

Most of the beneficiaries in the sharing business in Kenya are women according to an earlier Airbnb report.

 

 

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