Short-term rentals signal a boon for the travel industry

Short-term rentals are a huge contributor to the recovery of the global travel industry, according to the World Travel & Tourism Council (WTTC).

Moreover, they not only support the destinations but also the local communities. After all, 35% of Airbnb hosts worldwide say the business is an important financial livelihood.

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The world organization suggests that these rentals have increased the number of available accommodations and helped spread visitors to a destination. They broaden local community involvement in tourism and offer travelers a different and sometimes unique option.

Travelers are ready to explore the world

The WTTC report, entitled Best Practices for Short-Term Rental, prepared with the support of Airbnb, looked at the experiences of cities around the world to propose best practices to implement in this type of accommodation. , which has become a popular choice among travelers.

The report presents recommendations and best practices for the short-term rental, essential and fast-growing travel, and management segment of the tourism industry.

The report provides case studies on destinations such as Cape Town, Sydney and Seattle, among others, to help address the growing popularity of these accommodations. It includes simple policy recommendations such as data sharing, registration, smart taxation and long-term community investment approaches to benefit all travel and tourism stakeholders.

Julia Simpson, WTTC President and CEO, said: “As we begin to recover from the ravages of the pandemic, we need to focus on each of our industries to improve their performance. The best practices proposed in this report will provide governments with key policy recommendations. to promote tourism in their destinations while supporting their local communities.”

Simpson said the travelers are ready to explore the world again and their return will also help boost the global economy.

Customers are often drawn to short-term rentals for their flexibility and conveniences, such as full-size kitchens, offices and gardens, and the ability to stay in locations outside of traditional tourist areas.

According to a survey of guests who stayed in Airbnb listings in 2021, 20% indicated that if their choice of property was not an option, they would have changed their length of stay.

Kissimmee, which regularly features as one of Airbnb's top recipients for viajar in the EU.  (photo: Discover Kissimmee)
Customers are often drawn to short-term rentals for the flexibility and amenities they offer.

Short-term rentals provided a much-needed boost

Theo Yedinsky, Director of Global Policy at Airbnb, said, “Short-term rentals allow society to participate in the tourism economy. Income generated from accommodation helps many people to mitigate the effects of inflation.

Yedinsky noted that around 35% of Airbnb hosts globally say the business is an important financial livelihood. Additionally, short-term rentals help spread visitor spending between communities.

Carlos Mercado, CEO of Puerto Rico Tourism Company, said, “Throughout the pandemic, short-term rentals have provided a much-needed boost to our travel and tourism sector and our economy. Revenue generated from short-term rentals funds our marketing efforts, which are essential to attracting international visitors to Puerto Rico.”

According to the report, governments can consider adopting data sharing, registration, smart taxation and long-term community investment plans to help ensure that short-term rentals continue to benefit and support the destination community.

Data sharing enables governments to track and manage short-term rental activity and helps inform data-driven policy decisions. To support this, Airbnb has built its city portal as a one-stop-shop for relevant data that governments might need.

Cape Town, South Africa, took advantage of this data to make tourism and housing policy decisions during an affordable housing crisis in 2017. Meanwhile, authorities in Sydney, Australia, have Taken steps to regulate short-term rentals, including implementing a digital registration system to ensure consistency among all stakeholders.

Finally, residents can benefit from additional income generated by housing. French authorities worked with Airbnb to ensure that the regulatory framework for short-term rentals was simple and proportionate for occasional hosts.


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