According to the World Travel and Tourism Council (WTTC), short-term rentals have contributed significantly to the recovery of the travel sector.
In addition, they support not only destinations but local communities. After all, 35 percent of Airbnb hosts say this activity represents a significant source of income.
According to the international organization, these rentals have helped to increase the number of accommodation available and attract visitors to the destination. They offer travelers a different and sometimes unique option by expanding the local community’s involvement in tourism.
Travelers are ready to explore the world.
The WTTC report titled Best Practices for Short-Term Rentals, prepared with the support of Airbnb, offers best practices from cities around the world to implement this type of accommodation, which has become popular with travelers.
The report outlines recommendations and best practices for managing a segment of the short-term rentals and travel and tourism industry.
The report provides case studies of destinations such as Cape Town, Sydney and Seattle to help address the popularity of these destinations. It includes simple policy recommendations such as information sharing, registration, smart tax and long-term community investment approaches to benefit all travel and tourism stakeholders.
Julia Simpson, President and CEO of WTTC, said: “As we begin to recover from the dangers of the pandemic, we must focus on each of our industries to improve their performance. The best practices presented in this report provide key policy recommendations for governments to promote tourism in their destinations while supporting their local communities.”
Simpson says travelers are ready to explore the world again and their return will help boost the global economy.
Guests are often attracted to short-term rentals for their flexibility and convenience, such as full-size kitchens, office space and gardens, and the ability to stay in areas outside of traditional tourist areas.
In the year A survey of Airbnb listing guests in 2021 found that 20 percent would change their stay if their choice of property was not an option.
Short-term rentals have provided a much-needed boost
“Short-term rentals allow communities to participate in the tourism economy, where income from accommodation is helping many people mitigate the effects of inflation,” said Theo Yedinsky, director of global policy for Airbnb.
Yedinsky says that 35 percent of Airbnb hosts worldwide say this activity represents a significant source of income. Additionally, short-term rentals help spread visitor spending across communities.
“During the pandemic, short-term rentals have provided a much-needed boost to the travel and tourism sector and our economy,” said Puerto Rico Tourism Company CEO Carlos Mercado. Income from short-term rentals covers our marketing efforts. which are crucial in attracting international visitors to Puerto Rico.
According to the report, governments can consider data sharing, registration, smart tax and long-term community investment plans to ensure short-term rentals benefit and support the destination community.
Data sharing allows governments to track and manage short-term rental activities and helps inform data-driven policy decisions. To support this, Airbnb has built a city portal as a one-stop shop for relevant information that governments may require.
Cape Town, South Africa benefited from this information to inform tourism and housing policy decisions during the 2017 affordable housing crisis. Meanwhile, authorities in Sydney, Australia, have taken steps to regulate short-term rentals, including implementing a digital registration system. Ensuring consistency among all stakeholders.
Finally, residents can benefit from additional income from accommodation. French authorities have worked with Airbnb to ensure that the regulatory framework for short-term rentals is simple and affordable for occasional hosts.
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