Athens has ranked in the top 10 list of European cities offering best value-for-money Airbnbs compared to hotels, according to a recent research published by digital financial magazine Moneyzine.
The magazine’s experts researched Airbnb.com and Trivago to retrieve the average cost per night for both Airbnbs and hotels across 35 European cities, and determined the European destinations where opting for an Airbnb is the more economical option.
According to the research, Athens ranked 2nd on the best value-for-money Airbnbs list, boasting an impressive 49.53 percent price drop from a standard hotel room fare to an Airbnb. Moneyzine noted that “price-conscious travelers would be better off booking an Airbnb (62.13 euros per night) as it costs only half of the average hotel rate (123.11 euros per night) in the historic Greek capital.”
Istanbul, Turkey was named the top European city where Airbnbs provide the best value-for-money compared to hotels. With an average nightly rate of 40.46 euros, Airbnbs are 61.77 percent cheaper than hotels (av. 105.85 euros), while boasting the second lowest prices of all cities analyzed.
Lisbon, Berlin and Paris rounded up the top 5.
According to a Bankrate survey, 80 percent of US travelers have altered their vacation plans due to inflation. With average hotel prices in Europe following an upward price trend and airfares soaring to a five-year high many vacationers have chosen to cost-saving strategies like opting for Airbnb bookings that can lower their overall holiday budget and allow then to travel for more days to their desired destination.