How much do Greeks earn on Airbnb?

Owners of properties listed on short-term rental platforms Airbnb earn on average around 3,700 euros per year in additional income, according to the company’s own internal research, which was published on social networks under the title “Everyday Truth” (“Καθημερινές αλήθειες”).

While many European cities are putting a barrier to the uncontrolled expansion of short-term rentals, Greece has taken measures (such as introducing VAT, etc.) to ensure a level playing field (on par with hoteliers).

Airbnb executives say the company has become part of everyday life in Greece, helping ordinary Greeks achieve financial prosperity and supporting tourism’s recovery from the pandemic. In 2021, Airbnb and other platforms signed a “voluntary cooperation agreement” with the Internal Revenue Service (AADE) to improve transparency and ensure compliance. Since then, Greece has become an “example” for Europe of successful cooperation between platforms and authorities.

In addition, Airbnb cites AADE data, which states that the agreement guaranteed the appearance on the platforms only registered adsand also contributed €540 million in reported 2022 revenue to the Greek state budget, while Greek tax authorities said it could reach €700 million by the end of the year.

According to Airbnb, for 70% of hosts in Greece, homesharing is a way to keep the family home they inherited or the holiday home they bought with their savings. This means that with Airbnb, ordinary people have the opportunity to earn extra income from properties that would otherwise be an additional burden on their budget.

Moreover, in 2022, 52% of hosts in Greece stated that short-term rentals helped them cope with inflation and afford daily expenses. For more than a third of Greeks, renting out their home was necessary to survive. This data comes from an internal study conducted with over 1,800 Airbnb property owners in Greece (period August 2022 to August 2023. Margin of error +/- 2%).

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