One billion euros in economic benefits: this is what the Deloitte study commissioned by the real estate rental platform Airbnb and revealed by Le Parisien predicts, for the period of the 2024 Olympic Games in Paris. People who rent a property through Airbnb have smelled the opportunity, while the Olympics are expected to attract between 12 and 15 million visitors, most of whom will be concentrated in Île-de-France.
According to Deloitte’s estimate, 13,000 people will offer a rental on Airbnb during the period of the Olympic Games (July 26-August 11, 2024) and Paralympics (August 28-September 8, 2024), and will not hesitate to skyrocket the price of their good. “Airbnb hosts are expected to earn around $2,000 gross (before taxes and miscellaneous fees) renting their listing for ten days according to our estimates,” the study reveals. In other words, the revenue per night should be around 200 euros and represent an average increase of 70% compared to the prices charged in 2022.
In Île-de-France, this income per night could rise to 221 euros, compared to an average of 119 euros over the year 2022, which would constitute a price increase of 85%. Deloitte even explains that it makes a low estimate here. However, according to Ifop, “supply should be so strong that prices will adjust and the market will self-regulate”.
The study is not limited to the income directly pocketed by the rental of a property on Airbnb. She also predicts that in addition to their rent, tourists who stay in rentals listed on Airbnb will spend half a billion over the period of the Games, on leisure and restaurants for example.
In conclusion, according to Deloitte, tourists who will use Airbnb to attend the Olympic Games will generate “€1 billion in sales, €73 million in tax revenue (including €15 million in tourist taxes) and should enable the creation of nearly 7,300 full-time equivalent jobs during the year”.
