Airbnb Singapore has seen significant growth in 2020 despite the global pandemic. The home sharing platform saw a record number of stays in 2020, with an estimated 800,000 bookings taking place in Singapore alone. This is in stark contrast to the year before, when only around 350,000 bookings were made.
Reasons for Growth
The growth of Airbnb Singapore in 2020 can be attributed to several factors. Firstly, the pandemic has meant that many people are wary of staying in hotels and have opted for home sharing instead. Secondly, Singapore’s stringent travel restrictions have meant that people are more likely to stay in the country for leisure or business trips, leading to an increase in Airbnb bookings. Finally, Airbnb’s flexible cancellation policy has allowed guests to feel more secure when booking.
Impact on Local Communities
The growth of Airbnb Singapore has had a positive effect on local communities in the city. Airbnb hosts are often able to earn additional income by renting out their properties, which can be a lifeline for those affected by the pandemic. Additionally, the influx of tourists to the city has been beneficial for local businesses, who rely on the extra revenue.
It is expected that Airbnb Singapore will continue to see growth in 2021, as the pandemic continues to impact global travel. The combination of people’s desire to stay in local areas and Airbnb’s flexible cancellation policy is likely to drive further growth in the home sharing platform.
In , Airbnb Singapore has seen record growth in 2020, with a significant increase in bookings compared to the previous year. This growth has been attributed to a number of factors, including the pandemic, Singapore’s travel restrictions, and Airbnb’s flexible cancellation policy. The growth has had a positive effect on local communities, providing additional income for hosts and boosting local businesses. It is expected that Airbnb Singapore will continue to see growth in 2021 as the pandemic continues to affect global travel.