Airbnb Says It Generated $632 Million In Economic Activity in New York

Conducted by HR&A Advisors, the study found that Airbnb, the popular peer-to-peer apartment sharing startup, generated $632 million in economic activity in New York in one year and supported 4,580 jobs throughout all five boroughs.

Nearly 90% of Airbnb hosts rent out the home they live in and use the money they earn to help make ends meet. Meanwhile, Airbnb guests spend more time and money in New York than typical tourists.

In a statement from Airbnb, other highlights from the study were shared:

This study follows last month's news that New York Attorney General Eric Schneiderman filed a subpoena to obtain data on thousands of New York Airbnb hosts in an attempt to tighten up laws surrounding rental properties.

Airbnb has has been cooperating with New York's lawmakers to root out illegal hotel operators and slumlords, but it also filed a motion last week stating the subpoena was "unreasonably broad". The company maintains won't turn over sweeping amounts of information on hosts who have done no wrong.