Lagos Is One Of Airbnb’s Fastest-Growing Markets, Listings Have Doubled

Lagos Is One Of Airbnb’s Fastest-Growing Markets, Listings Have Doubled

Lagos, Nigeria has become a popular destination with travelers using the Airbnb platform. AP Photo – Sunday Alamba

Lagos, with a population of 21 million people, is Nigeria’s economic hub and an attractive destination for Airbnb users.

Listings on the accommodations-sharing app are up 100 percent since a year ago in Nigeria’s most populous city, according to Quartz.

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Nigeria is among the eight fastest-growing global markets for Airbnb, alongside Ghana and Mozambique, thecompany reports.

Airbnb allows people to make their homes or spare rooms available to visiting guests for a fee, and it continues to thrive and grow in Africa.

Since launching in Africa in 2010, the travel startup has garnered more than 130,000 listings which have seen over 3.5 million guest arrivals.

The mobile hospitality-booking app saw listings for properties in Lagos nearly double from May 2018 to May 2019, according to AirDNA data.

Lagos residents who make their homes available as Airbnb rentals are earning more money than in previous years thanks to greater demand.

Over the past year, revenue per available rental in Lagos has risen 40 percent, AfricanBusinessCentral reports.

Reasons for Airbnb’s growth in Lagos

As Lagos is a financial hub that attracts many business people, industry insiders speculate that business travelers make up much of the increased interest in Lagos, according to Yahoo.

Nigerians in the diaspora are also contributing to Airbnb numbers in the city, with those who have moved to the U.S. or U.K. and come home for holidays such as Christmas increasingly using the Airbnb platform to book their accommodation, Aledeh reports.

South Africa was the first African country to join the Airbnb platform in 2010.

Cape Town continues to be the most popular African city on the travel startup’s platform, with rentals in the South African city increasing from 10,000 in 2015 to around 40,000 in 2018, IOL reports.