Airbnb is taking off in in tourism hotspots, with one in 10 Queenstown houses now listed on the site.
Infometrics says the website, which allows people to rent out their homes to tourists, is worth $55 million a year to our economy.
Senior Economist Benje Patterson told Mike Hosking that 70 per cent of Airbnb guest nights across the country are in Auckland and Queenstown.
"The most surprising thing for me was when I crunched the numbers and Airbnb is pushing one million guest nights across New Zealand per annum," he said.
Patterson added that it's important to remember Airbnb is growing at a time when tourism is flourishing.
"These hotspots like Queenstown, capacity is stretched at peak times. So rather than encroaching and stealing away visitors from the hotels, Airbnb is actually helping."
Airbnb was founded in 2008. Last March, Queenstown became the first city in the country where the site offers holiday experiences alongside accommodation.
LISTEN ABOVE AS MIKE HOSKING TALKS WITH BENJE PATTERSONÂ
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