New Research Finds Short Term Rentals Bring $7 Million To Annapolis Every Year
Annapolis, MD – ?New Internet Association research released today finds that short term rentals (STRs) create dozens of jobs and add millions of dollars to Annapolis’ economy each year. Internet Association, the only trade association representing leading internet companies, examined the economic and job contributions of STR platforms like Airbnb and HomeAway to the Annapolis economy last year.
IA’s exclusive economic analysis combines federal government datasets with proprietary data. Key findings include:?
- STRs in Annapolis created an additional $7 million in economic activity through bookings for the city and its residents in 2018.
- The average revenue per listing in Annapolis is about $7,200, which adds an additional 10 percent to the median household income of residents who use an STR platform.
- Despite a citywide employment drop of 10 percent since 2009, the STR economy of Annapolis has created 60 additional jobs in the city across numerous industries, including 10 direct jobs, while opening up additional choices to visitors and tourists.
- The STR economy in Annapolis creates six indirect jobs in related industries for every one direct job created.
To read the full report, click here.