- Florida saw a 20 percent increase in tax revenue from Airbnb hosts in 2022, generating more than $371 million.
- For the second consecutive year, Florida was the top beneficiary of the platform’s tax revenue.
- Florida welcomed 137.6 million domestic visitors and 5 million international tourists in 2022, contributing $96.5 billion to the state’s economy and surpassing New York as the most-visited destination in America for the first time since 2001.
The state of Florida saw a significant increase in tax revenue generated from Airbnb hosts last year, bringing in more than $371 million in tax revenue, according to data released by the rental platform.
The figure illustrates an uptick of 20 percent in comparison to 2021 when Airbnb reported $308 million in tax revenue generated. For the second consecutive year, Florida was the top beneficiary of the platform’s tax revenue, exemplifying its emergence as a national tourism leader despite the challenges posed by the pandemic’s past impact on travel.
“Many major cities in North America experienced a dramatic drop in tax dollars that historically came from their downtown and office space markets,” said Airbnb in a statement. “In contrast, tourism taxes collected on behalf of Hosts on our platform increased by almost 130 percent since 2019 in the US. These taxes help local governments fund essential services throughout the pandemic.”
Other states in the US also saw increases in tax revenue from Airbnb hosts in 2022. California generated more than $198 million, marking an increase of approximately 25 percent from the previous year, while Tennessee saw an increase of approximately 30 percent, with over $120 million in tax revenue generated by Airbnb hosts.
North Carolina, Texas, and Arizona also experienced significant increases of approximately 25 to 35 percent in tax revenue from Airbnb hosts. In total, Airbnb reports $1.9 billion in tourism taxes across all 50 states in the US, Washington D.C., and Puerto Rico.
Florida imposes a Tourist Development Tax of 6 percent on the revenue generated from rentals of six months or less, which is in addition to the sales tax. This tax is allocated to support county-specific expenditures, such as infrastructure repairs, tourism development initiatives, and cultural endeavors, including theaters and sporting events.
Florida welcomed 137.6 million domestic visitors in 2022, an 11.4 percent increase when compared to 2021. The state also reported an additional 5 million international tourists, marking a 94.8 percent year-over-year increase off the back of terminated COVID-19 travel restrictions.
Moreover, tourists contributed $96.5 billion to Florida’s economy and supported over 1.6 million Florida jobs en route to growing its market share of overseas visitors by 21 percent, surpassing New York as the most-visited destination in America for the first time since 2001.
“Quarter after quarter, our vacation message has clearly resonated with travelers far and wide, and delivered record-breaking results on behalf of all Floridians,” said Visit Florida President and CEO Dana Young.