More South Africans have turned to this side hustle for extra income

Rising interest rates, energy price hikes, and the eye-watering amount it takes to fill up your car at the petrol station have many South Africans looking for ways to earn extra income.

A new survey of 1,800 South African hosts and guests on Airbnb highlights – for the first time – how the cost of living crisis is driving people to become hosts on the online platform. Half of hosts across the country say they host to afford the rising cost of living, and over a third say the additional income helps them make ends meet.

The typical South African host earns just over R26,000 – equivalent to approximately one month’s additional pay for the average income earner – by renting their space on Airbnb. The vast majority of hosts are regular people, and 4 in 5 hosts share only one listing.

Almost 1 in 5 hosts work in either education, healthcare or hospitality, the group said. Two-thirds are women and a quarter are over 60.

The survey shows that the rising cost of living is also pushing guests to seek more affordable family travel on Airbnb.

A 2021 report from Genesis Analytics highlighted Airbnb’s contribution to the inclusive growth of tourism, with travel on the platform contributing more than R8 billion to the economy supporting around 22,000 jobs in 2020, a crisis year for local tourism.

Velma Corcoran, regional lead for Middle East Africa at Airbnb, said: “As the cost of living crisis bites, people are looking for new ways to boost their income. Airbnb was born during an economic crisis to help people afford their homes and 15 years later, more families across South Africa are doing the same.

A poll conducted by BusinessTech in May found that nearly a quarter of 3,843 respondents said they have a side business to generate extra income.

Read: These South Africans don’t need to submit a tax return in 2022

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More South Africans have turned to this side hustle for extra income