A combination of factors including budget airlines and ride-sharing have made traveling more affordable than ever. Still, when it comes to finding a place to stay, hotel rooms tend to cost a small fortune. Nowadays, there are solutions for people trying to save money thanks to the rise of the sharing economy, particular websites such as CouchSurfing and Airbnb. Both services give hotels a run for their money but how much is Airbnb actually saving people in major cities?

German hotel reservation website HRS released data on hotel prices in major cities around the world with New York the most expensive with a room averaging $306 a night. AirDNA is a website that tracks and analyzes the Airbnb market and according to their data, an Airbnb room in New York would average $187 a night by comparison. That would save travelers an impressive $119 which they could then splurge on all the attractions The Big Apple has to offer. Cooking in an Airbnb flat and avoiding restaurants can also save even more money for budget travelers.

The trend of Airbnb beating the hotel repeats itself in most cities, as can be seen in the following infographic which shows how things stack up in eight major tourist destinations. Choosing an Airbnb in Tokyo, for example, could save you $127 a night. Of course, some travelers will still prefer to stay in a hotel despite the higher costs, pointing out that it negates the stress of searching for a suitable Airbnb flat, collecting the key and having to integrate and talk with strangers.

source: statista