Short-term rentals are boosting...

Non-hoteliers are cashing in on the tourism economy and helping to spread visitor spending to local communities

A recently released World Travel & Tourism Council (WTTC) report has highlighted the importance of short-term rentals, a growing segment of the travel and tourism sector.

WTTC's report, titled 'Best Practices for Short-term Rentals', was compiled with the support of Airbnb. It draws from the experiences of cities around the world to offer easy-to-implement best practices for short-term rental accommodation, which is becoming increasingly popular among travellers, particularly as hotel rates skyrocket in response to post-pandemic pent-up demand.

The report includes case studies from destinations from Sydney to Seattle, and offers simple policy recommendations for data sharing, registration, smart taxation and long-term community investment approaches.

“As we begin to recover from the ravages of the pandemic, we must focus on building back better in each of our industries," said WTTC president and CEO Julia Simpson. “The best practices offered in this report will provide governments with key policy recommendations that will both promote tourism in their destinations while supporting those local communities. We know travellers are ready to explore the world once again and their return will also help power the world’s much-needed economic recovery.”

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Guests are often drawn to short-term rentals for the amenities they offer, such as kitchens, work spaces and gardens, and the opportunity to stay in locations outside of traditional tourist zones.

“Short-term rentals allow everyday people to take part in the tourism economy, and the income earned through hosting is helping many people navigate the impacts of inflation," said Airbnb Global Policy Director Theo Yedinsky.

35% of Airbnb hosts globally say they host to help cover the rising cost of living

Yedinsky added: “Short-term rentals also help spread visitor spending through communities, and, as travel returns, governments and tourism officials can partner with short-term rental platforms like Airbnb to develop fair, reasonable rules that strengthen destinations, and preserve these economic benefits for communities and local residents.”

Short-term rentals have bolstered the travel sector in Puerto Rico, according to Carlos Mercado, executive director of the Puerto Rico Tourism Company, which commissioned the report.

Mercado said: “Throughout the pandemic, short-term rentals provided a much-needed boost not only to our travel and tourism sector, but to our economy. The revenue short-term rentals generate is used to fund our marketing efforts, which is critical to driving international visitors back to Puerto Rico.”

For more information and to read the report, visit www.wttc.org