A recent study by money.co.uk examined the average nightly cost of an Airbnb over the dates of the most popular global events in 2022. The average cost of an Airbnb in the same area was also taken for the week before the event, to show the difference in price, and discover the most profitable major events for Airbnb owners.
The Global Music Events Increasing Airbnb Prices the Most in 2022
|
Rank |
Event |
City |
Dates |
Average Nightly Price (during event) |
Average Nightly Price (previous week) |
Increase From Previous Week |
|
1 |
Glastonbury Festival |
Pilton, UK |
June 22 – 26 |
£521 |
£162 |
221.6% |
|
2 |
EXIT |
Novi Sad, Serbia |
July 7 – 10 |
£145 |
£59 |
145.8% |
|
3 |
Coachella |
Indio, US |
April 15 – 17 |
£1,297 |
£550 |
135.8% |
|
4 |
Eurovision Song Contest |
Turin, Italy |
May 10-14 |
£166 |
£88 |
88.6% |
|
5 |
Primavera Sound |
Barcelona, Spain |
June 2 – 4 |
£291 |
£190 |
53.2% |
|
6 |
Afro Nation |
Portimão, Portugal |
July 1 – 3 |
£218 |
£145 |
50.3% |
|
7 |
Bilbao BBK Live |
Bilbao, Spain |
July 2 – 9 |
£224 |
£150 |
49.3% |
|
8 |
Osheaga Festival |
Montreal, Canada |
July 29 – 31 |
£285 |
£192 |
48.4% |
|
9 |
Splendour in the Grass |
North Byron |
July 22 – 24 |
£310 |
£231 |
34.2% |
|
10 |
Electric Daisy Carnival |
Las Vegas, US |
May 20 – 22 |
£518 |
£389 |
33.2% |
According to money.co.uk’s research, Glastonbury which is held in Pilton, Somerset ranks in first place and experiences the biggest increase of 221.6%. Glastonbury has had many superstar headliners ranging from Taylor Swift, Beyonce, Jay-Z, Stormzy and Ed Sheeran. 2022 marks the return of the festival after a three-year absence and Paul McCartney and Billie Eilish will be headlining this year’s festival. The massive increase in Airbnb’s prices is probably driven by the lack of hotels in the area.
The American music event increasing Airbnb prices the most is Coachella, with prices rocketing by 135.8%. The festival hasn’t taken place for two years due to the pandemic, so 2022 is set to be a big year with the likes of Kanye West (officially billed as Ye), Billie Eilish and Harry Styles headlining the event at Empire Polo Club in Indio, California.
In comparison to the other music events which make the top ten, Afrobeats festival, Afronation is relatively new. The event was first held in Portimão, Portugal in August 2019 and its lineup featured Nigerian music heavyweights such as Burna Boy, Davido and Wizkid. Because of the disruption of the pandemic, Afronation hasn’t been held in Portugal since its first festival and 2022 sees its return to the southern European country. The highly-anticipated festival sees a price increase of 50.3%.
The Global Sporting Events Increasing Airbnb Prices the Most in 2022
|
Rank |
Event |
City |
Dates |
Average Nightly Price (during event) |
Average Nightly Price (previous week) |
Increase From Previous Week |
|
1 |
PGA Championship |
Tulsa, USA |
May 16 – 22 |
£1,123 |
£161 |
597.5% |
|
2 |
Kentucky Derby |
Louisville, USA |
May 7 |
£1,107 |
£250 |
342.8% |
|
3 |
Monaco Grand Prix |
Monte Carlo, Monaco |
May 27 – 29 |
£1,045 |
£255 |
309.8% |
|
4 |
British Grand Prix |
Silverstone, UK |
July 1 – 3 |
£624 |
£186 |
235.5% |
|
5 |
Canadian Grand Prix |
Montreal, Canada |
June 17 – 19 |
£634 |
£196 |
223.5% |
|
6 |
24 Hours of Le Mans |
Le Mans, France |
June 11 – 12 |
£310 |
£109 |
184.4% |
|
7 |
Hungarian Grand Prix |
Budapest, Hungary |
July 29 – 31 |
£274 |
£114 |
140.4% |
|
8 |
UCI Road World Championships |
Wollongong, Australia |
September 18 – 25 |
£584 |
£260 |
124.6% |
|
9 |
Daytona 500 |
Daytona Beach, USA |
February 20 |
£496 |
£223 |
122.4% |
|
10 |
Indianapolis 500 |
Indianapolis, United States |
May 29 |
£421 |
£193 |
118.1% |
Following record-breaking attendance in 2021, The Formula 1 Pirelli British Grand Prix returns as the biggest and fastest sporting event in the UK, causing Airbnb prices to rise by 235.5%. An average nightly Airbnb can be seen to shoot up from £186 to £624 during the event.
The event that sees rental prices increase the most is the PGA Championship, which in 2022 will take place at the Southern Hills Country Club in Tulsa, Oklahoma. While an Airbnb costs £161 on average in the city in early May, prices rise by almost 600% for the week of the tournament, to £1,123.
To view the full research complete with graphics by Money.co.uk, click here.
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