One of the industry’s pioneers, it is rumoured to be raising $1.5bn of new funds that would value the seven-year old company at $24bn, up from $10bn last April. By comparison, Marriott International, one of the largest hotel groups in the world, has a market cap of $21bn. A report conducted by Airbnb in 2013 estimated that the San Francisco-based company had a total economic impact of £502m in the UK – including £243m in direct spending and £259m in induced spending – and supported 11,629 jobs. That figure is likely to have jumped, as the 53,000 UK properties listed on Airbnb, which includes the 27,000 in London, is 87pc higher than last year. • The best of Airbnb in Britain • Why Airbnb shouldn't be stopped Airbnb is a force for good in the UK economy, said Mr McClure. “It promotes the UK as a destination and spreads tourist spend to local businesses”. Travellers are more likely to stay in non-central neighbourhoods, where 72pc of Airbnb properties in London and 78pc in Edinburgh are based, rather than in hotel hotspots. In the March Budget, George Osborne unveiled “steps to put Britain at the forefront of the online sharing economy”. Government employees would be encouraged to use these services, which are often cheaper and more convenient, to book accommodation and transport while travelling on official business, the Chancellor said. • Airbnb and ZipCar found UK sharing economy trade body • UK sharing economy will take a decade to hit its stride The average Airbnb visitor spent £911 in 2013, of which £570 was spent at local businesses in the neighborhood where they stayed. Figures from the Office for National Statistics released on Friday show that accommodation contributed more to the UK economy than any other tourism subcategory in 2014, outperforming other subcategories such as air transport, food and drink, travel agencies, sports and culture. Accommodation is the UK tourism industry's biggest economic contributor (Source: ONS)
James McClure has called the UK the centre of the sharing economy" and his company now has a total economic impact of £502 million (£243million direct spending, £259 million induced spending) and it supports 11,629 jobs. The company"s growth has been huge in the past year with listings having grown 87% this year to 57,000 listings (27,000 of which in London). George Osborne in March unveiled steps to put Britain at the forefront of the sharing economy and James McClure has also stated that companies such as Airbnb "promote the UK as a destination and spreads tourist spending on local business", This is supported by the figures that of the £911 that an average Airbnb user spends £570 goes towards local businesses.