SINGAPORE, 27 July 2023: European hotel prices have risen above inflation this year, whilst airfares soar to a five-year high. With consumers becoming increasingly price-driven amid intense inflation, 80% of surveyed travellers reportedly altered their summer plans.
In light of this, the financial experts at Moneyzine were keen to unveil the European cities where Airbnb accommodations offer superior value to hotels to alleviate financial stress for summer vacationers.
To do this, the team scraped Airbnb.com and Trivago to retrieve the average cost per night for Airbnb and hotels across 35 European cities. It identified European destinations where an Airbnb stay was the more economical.
Best value for money: Airbnb vs hotel
Graphic: https://moneyzine.com/uk/
*Average rates are on a per-night basis for one adult
For the complete data of the 35 cities analysed, please click here.
Moneyzine can reveal that Istanbul, the former Turkish capital, is the European city where Airbnb provides the best value for money compared to hotels. With an average nightly rate of USD45.37, Airbnbs are 61.77% cheaper than hotels (av USD118.69), boasting the second lowest prices of all cities analysed. Declared to be one of the world’s cheapest destinations, the exotic Mediterranean city is ideal for travellers on a budget.
In second place is Athens, with a staggering 49.53% price drop from a standard hotel room fare to an Airbnb. Price-conscious travellers would be better off booking an Airbnb ($69.67 per night) as it costs only half of the average hotel rate USD138.05 per night) in the historic Greek capital.
Coming a close third is Lisbon, with an Airbnb averaging around $107.51 per night compared to a standard hotel room priced at USD210.30. Lisbon ranked 7th out of 100 cities in a recent study on the most popular 2023 destinations. Travellers believe Airbnbs are more cost-effective in the Portuguese capital, with nightly rates being 48.88% lower than hotels.
Berlin and Paris follow in fourth and fifth place, respectively, with a significant price difference between Airbnbs and hotels. Opting for an Airbnb would save travellers, on average, a noteworthy USD109.66 in the German capital and USD111.38 in the City of Love.
On the other hand, Oslo in Norway and Tirana in Albania stand out as cities where a single hotel room for a one-night stay is around $8 cheaper, on average, than an Airbnb.
Moneyzine CEO Jonathan Merry provided money-saving tips to prevent high costs from dampening travel plans.
Plan ahead for meals
Food and drink expenses are often the biggest budget-busters when travelling. Curb your food spending by choosing accommodations with kitchen facilities or a refrigerator. Opt out for lunch instead of dinner and seek restaurants that offer happy hour deals.
Maximise your travel credit card benefits
Sign up for travel rewards programmes and consider credit cards to earn points and miles, which can be redeemed for flights, accommodation, and other travel-related expenses. Opt for credit cards with generous welcome bonuses and take advantage of various perks, including free travel insurance and discounts on attraction tickets.
Look for vouchers and free activities
Trim travel costs by planning your activities around vouchers and discount deals, or do a simple Google search to find free or low-cost events and activities at your destination. From the Louvre in Paris to the Vatican Museums in Rome, many offer free or discounted admission on certain days of the week, so make sure to plan and research in advance.
For more information, visit Moneyzine at https://moneyzine.com/uk/.
