Instead of crashing on couches, or in motels and hotels, hundreds of thousands of Olympic fans in Rio de Janeiro are checking into Airbnb rentals instead. The online home sharing platform now lists almost 40,000 units in Rio, a humongous change from the mere 900 listed in 2012.
Locals are taking full advantage of the influx of tourists from the Olympics and charging them a sweet penny for using their homes during Olympics, which run from August 5th to August 21st. Airbnb host income in Rio will be around $25 million during the Olympics, according to CNN.
While hotel rooms are known to be costly and concentrated within certain parts of the city, Airbnb's can be found in all corners of Rio -- rich, poor, developed or developing. While hotel prices can exceed $600 a night, some Airbnb hosts are offering beds for as little as $30 a night.
Approximately 66,000 Airbnb guests are expected to occupy rooms during the Olympics with about half Brazilians themselves from other cities and the other half international, from other parts of the globe. This spike in tourism comes during Brazil's worst recession in decades.